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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 Conveyancing Panel : Questions and Answers
My mortgage broker has asked me for my lawyer’ panel reference for the Ecology Building Society conveyancing panel. Can you suggest how I discover this. I have contacted my local Ecology Building Society office but they have not got back to me yet.
the sensible thing to do is ask for this information from your solicitor. A law firm is likely to keep a file or database of lender panel information which would include, if applicable their conveyancing panel details for Ecology Building Society.
Expecting to complete my purchase next Tuesday. My conveyancing lawyer has asked me to provide him with a copy of the building insurance for the house as as he informs me that he is duty bound to validate that it is in order for Ecology Building Society. What does the insurance need to cover?
All property lawyers on the Ecology Building Society conveyancing panel would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in Ecology Building Society’s Part 2 requirements of the CML Handbook (last updated on Ecology Building Society). Being on the Ecology Building Society conveyancing panel your lawyer is expect to follow these instructions.
I need to find a Ecology Building Society panel solicitor in Stirling. Could you help me?
It is not clear why you need a Ecology Building Society panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to Ecology Building Society to find out which solicitors in Ecology Building Society are on their panel. If you do find such a firm not listed please direct them to our site to list. After all the cost is only one £1 a month
Please explain the implications if my lawyer’s firm is expelled from the Ecology Building Society Conveyancing panel prior to completion?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have ti instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by the regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
Do most banks operate their own panel of solicitors?
Many lenders do operate a restricted conveyancing panel but a lot of lenders allow any solicitors to join their panel so long as they meet their criteria. Each lender sets their own criteria. For example the Ecology Building Society conveyancing panel requirements are different to Ecology Building Society’s conveyancing panel criteria.
I have today made my last payment due on mortgage with Ecology Building Society. I assume I don't need a solicitor on the Ecology Building Society panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Ecology Building Society mortgage they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Ecology Building Society mortgage from the register. Ecology Building Society,and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
but are not moving to another property
where the Ecology Building Society has sent the Land Registry the discharge electronically, and
the Ecology Building Society has instructed the Land Registry to do so
The Land Registry will send you a letter confirming that your Ecology Building Society mortgage has been paid off.
My ex -wife’s name is on the Ecology Building Society mortgage of my property but not on the land registry. The apartment was transferred to me on our divorce many years ago by way of a sealed court order. Does my ex still have a say on the sale even though the land registry showing the property in my name alone? Will I be required to take her name of the Ecology Building Society mortgage in order to sell?
In terms of the Ecology Building Society mortgage, it is unusual that your ex-wife’s name remains on the mortgage but not on the title. It is conceivable that this is an oversight on the part of your conveyancers to ensure that her name was removed or even an administrative error on the part of Ecology Building Society in failing to update their data. In any event, it should cause difficulty providing her name no longer appears on the Land Registry title and you have a court order ordering that the property is transferred to you.