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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.
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How does my firm apply to be on the Ecology Building Society Conveyancing Panel? How can my firm be reinstated onto the Ecology Building Society Conveyancing Panel?Find an Approved Solicitor on the Ecology Building Society Conveyancing Panel
Ecology Building Society Solicitor Panel Recently Asked Questions
We are hoping to buy a 2 bedroom flat in London with a mortgage from Ecology Building Society. We like our lawyer but Ecology Building Society says she’s not on their "panel". We have to appoint one of the Ecology Building Society panel firms or keep our solicitor and pay for one of their panel ones to represent them. This seems very unfair; Can we not simply insist that Ecology Building Society use our lawyer?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the Ecology Building Society conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for Ecology Building Society
We are due to exchange on the purchase a house but as a result of damage from the recent storms I have agreed compensation from the seller of £3k approx by way of a reduction in the price. This was going to be dealt with as part of the conveyancing process but my mortgage company Ecology Building Society will not agree to this. Why was Ecology Building Society even consulted?
Your lawyer being on the Ecology Building Society conveyancing panel is duty bound to inform Ecology Building Society of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to Ecology Building Society then they would have to discontinue acting for you and Ecology Building Society.
Do all the firms listed on your directory have online case tracking as I was under the impression that this was a precondition of being on the Ecology Building Society solicitor panel?
The Council of Mortgage Lenders or BSA do not require online case tracking. Some law firms operate such technology and some don't.
My grandmother passed away last year and as sole heir and executor was left the house. The house had a relatively small loan left on it of around £4500. I want to transfer the title deeds into my name whilst I re-mortgage to Ecology Building Society , pay off the mortgage etc. Is this allowed?
If you intend to re-mortgage then Ecology Building Society will insist on your using a conveyancer on the Ecology Building Society conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Ecology Building Society conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Ecology Building Society mortgage is registered as a charge at the Land Registry.
Is the case that all CQS (Conveyancing Quality Scheme) solicitors on the Ecology Building Society conveyancing panel?
It is true that some lenders now use CQS as the starting point for Panel membership such as HSBC and Santander. CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of conveyancing solicitors.
We have a mortgage agreed in principle with Ecology Building Society. Solicitors have been appointed? How long does it take for Ecology Building Society to send the offer to our conveyancer
Some lenders take longer than others. Have Ecology Building Society completed the survey? Have you advised Ecology Building Society as your lawyers details and checked that your lawyer is on the Ecology Building Society conveyancing panel? It is not unusual for a mortgage offer to take a month to come through
After shopping around on the internet I have found a solicitor having made sure that they are on the Ecology Building Society conveyancing panel. Does my lawyer arrange the survey of the property?
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I've read lots of mortgage guides,I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my solicitor - who is on the Ecology Building Society conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Ecology Building Society will need an independent valuation of the property. Your lawyer will not arrange this. Usually Ecology Building Society will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey.
You may wish to consider appointing your own surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
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Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by postcode. As you are getting a mortgage with Ecology Building Society you could contact your them to see if they have a list of approved surveyors.