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approved by Ecology BS
Ready to buy a new home? Failing to check that a lawyer is on the Ecology BS list of approved solicitors can put your transaction at risk of delay or failure.
Find an Approved Solicitor on the Ecology Building Society Conveyancing Panel
Common questions asked concerning the Ecology Building Society Conveyancing Panel
I instructed a firm of solicitors to conduct the legal paperwork on my purchase three weeks ago having applied for a mortgage with Ecology Building Society. The law firm assured me that they are on Ecology Building Society conveyancing panel and provided me their panel reference. Ecology Building Society then told me that their panel number was dormant and would need to be reactivated. What do I do from here? Should I appoint a new solicitor currently on the approved panel for Ecology Building Society?
The answer depends on whether you still have confidence in the said solicitors and how long it will take for the firm to be reinstated on the Ecology Building Society conveyancing panel You may wish to enlist the help of your broker to check with the Ecology Building Society as to how long they think it will take to get the firm to get back on the panel.
Our conveyancing solicitor is asking me for personal identification documents saying that this is part of his legal duty as a solicitor on the Ecology Building Society Conveyancing panel. Am I being spun a yarn?
Anti-terror and anti-money-laundering rules require solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with before they can accept their conveyancing business. The Client Care letter that you need to sign will no doubt confirm this. Your lawyer is right that Ecology Building Society also require certain documents to be viewed. If a you refuse to provide ID verification documents, your conveyancer would not be able to accept instructions from you. Your lawyer also has obligations to obtain certain documents in accordance with Ecology Building Society CML Handbook requirements last updated on Ecology Building Society
Do all the firms listed on your search have online case tracking as I understood that this was a condition of being on the Ecology Building Society solicitor panel?
No. There is no CML Part 2 or Building Society Association requirement relating to online case tracking. Some law firms operate such technology and some don't.
I am selling my house. Does my solicitor have to be on the Ecology Building Society conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Ecology Building Society conveyancing panel they can still act for you on your sale. it might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
is it true that all solicitor practices on the Ecology Building Society conveyancing panel regulated by the SRA?
As solicitors, in order to be on the Ecology Building Society conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
Two weeks ago we had a mortgage agreed in principle with Ecology Building Society. Solicitors have been instructed? What is the average time that one could expect to receive a mortgage offer from Ecology Building Society?
Some lenders take longer than others. Have Ecology Building Society done the valuation? Have you advised Ecology Building Society as your lawyers details and checked that your lawyer is on the Ecology Building Society conveyancing panel? sometimes it can take as long as six weeks for a mortgage offer to be issued
Completion of my remortgage has taken place with a loan from Ecology Building Society. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about Ecology Building Society. How does one go about formally complaining?
All banks and building societies have complaints procedures. Your first port of call should be one of the Ecology Building Society branches or the Customer Services Department at Ecology Building Society head office. In most cases complaints to Ecology Building Society are resolved very quickly. If you feel that the matter is not resolved you can write to the
Financial Ombudsman Service at South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.