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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.
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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
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For what reasons would a law firm be excluded from the Ecology Building Society solicitor panel?
According to a recent survey report by the solicitors regulator three quarters of law firms had been removed 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 between the surveyor’s assumptions in Ecology Building Society’s home valuation report and what is in the conveyancing documents. My solicitor has advised that as he is on the Ecology Building Society conveyancing panel he is duty bound to check that the lender is with this discrepancy and is still content to lend. Is my lawyer’s stance correct?
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 you.
I am looking to buy a house and require a conveyancing solicitor in Newcastle who is on the Ecology Building Society solicitor. Could you point me in the right direction as regards a solicitor?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for Ecology Building Society . We don’t recommend any particular firm.
The solicitors that just started acting on my house acquisition in Brighton has without warning closed. They were on acting for me because I had to have a solicitor on the Ecology Building Society conveyancing panel and my previous lawyer was not. I gave them a cheque for £150 in advance. What do I do now?
If you have an estate agent involved then inform them straight away so that they advise the vendors that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Ecology Building Society conveyancing panel and notify the lender. If you have paid over any money it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to help
is it true that all solicitor practices on the Ecology Building Society conveyancing panel overseen by the SRA?
As solicitors, in order to be on the Ecology Building Society conveyancing panel they would need to be regulated by the SRA. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
The for formalities of my purchase 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?
Almost all banks and building societies have complaints procedures. Your first point of contact should be one of the Ecology Building Society branches or the Customer Care Team 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.
Planning on purchasing a house with a mortgage with Ecology Building Society. I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Ecology Building Society conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that they are on the Ecology Building Society conveyancing panel