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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.
Looking for information about your firm's panel status?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?
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Ecology Building Society Solicitor Panel Example Support Desk Enquires
For what reasons could a firm of solicitors be excluded from the Ecology Building Society approved conveyancing panel?
According to a recent survey report by the solicitors regulator three quarters of law firms had been excluded from a lender panel. The most common reasons in order are :
- lack of transactions
- the lawyer is a sole practitioner
- as part of the HSBC panel reduction
- regulatory contact by SRA
- accidental removal. We are not aware of the specific or common criteria for removal by Ecology Building Society
My solicitor has discovered a discrepancy when comparing the information in Ecology Building Society’s valuation report and what is in the title deeds. My lawyer says that as he is on the Ecology Building Society conveyancing panel he is duty bound to check that the bank is OK with this discrepancy and is content go ahead. Is my lawyer’s stance legitimate?
A precondition to being on the Ecology Building Society approved panel is to comply with the CML Handbook requirements (last updated for this lender on Ecology Building Society) which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
Whilst your website is a good idea there are many lawyers listed near Hackney on the Ecology Building Society conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the Ecology Building Society approved panel?
We do not recommend specific firms as the right firm for you depends on where your priorities lie. For example you may require a local firm with local knowledge or you might be looking for the low cost conveyancing. Before you appoint your lawyer we advise you to speak to two or three of the firms listed to gain comfort as to which one is right for you..
I am considering applying for a Ecology Building Society mortgage for purchase of a new build (under development) with 65 per cent LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Ecology Building Society?
In theory, you could use a solicitor that is not on Ecology Building Society conveyancing panel, but Ecology Building Society would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
Is the case that all CQS (Conveyancing Quality Scheme) solicitors on the Ecology Building Society conveyancing panel?
Some major lenders now use CQS as the starting point for Panel approval such as HSBC and Santander. The Law Society’s CQS membership 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 join their panels.
When it comes to lenders such as Ecology Building Society do lawyers have to be pay a fee to be on the conveyancing panel?
We are not aware of any lender fees to be on their panel although some do charge an administration charge to deal with the processing of the conveyancing panel application.
I am due to exchange contracts on my flat. I had a double glazing fitted in month 6 but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Ecology Building Society are being difficult. The solicitor who is on the Ecology Building Society conveyancing panel is saying indemnity insurance will be fine but Ecology Building Society are requiring a building regulation certificate. Why do Ecology Building Society have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Ecology Building Society have referred the matter to their valuer. The reason why Ecology Building Society may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing correctly and safely installed. It merely protects against enforcement action which is very unlikely anyway.