Adam & Company International Conveyancing Panel Information

Lexsure only know of a couple of banks that operate a distinct conveyancing panel where the mortgage advance is over a certain threshold. You should nevertheless check directly with Adam & Company International. At one stage HSBC would only allow Sole practitioners to act for them where the mortgage was below £150,000. We are not sure if HSBC still operate such a condition. In your case it is best to check with Adam & Company International

The CML Part II requirements of Adam & Company International are silent on this. Most mortgage companies deal with the issue of file retention via their Terms and Conditions where they generally provide that for evidential purposes, the firm must keep the file for a minimum six years from the date of the mortgage. Data imagining is normally suitable compliance with this requirement. Many lenders point out in that it is the practice of some fraudsters to demand the conveyancing file on completion in order to destroy evidence that may later be used against them. It is therefore important to retain these documents to protect Adam & Company International’s interest. To be absolutely sure of Adam & Company International requirements in this regard please check the Terms and Conditions of Adam & Company International’s conveyancing panel acceptance.

You need to be careful here as what you are intending may not be acceptable to the mortgage company. It is possible that you (as a non-panel firm) or the mortgage applicant are not entitled instruct a panel firm of your choice. Lenders such as Nationwide BS make it clear to their panel firms that where a non-panel member firm is instructed by one of their mortgage applicants, the lender must appoint a panel firm to carry out its instructions and to liaise with the borrower's conveyancer. You also need to make the costs implications and potential for delay very clear to your client.

The key here is the caveat ‘more onerous’. You have to try and take an objective view as to whether the Terms relating to the Adam & Company International conveyancing appointment (or other terms for other lenders) are ‘more onerous’ than the UK Finance Lenders’ Handbook Conditions. Depending on the Terms you may need to provide details on your renewal form. If you are in any doubt please call your broker to discuss before moving forward on this question.

It would be advisable to provide details of the date of removal, information on the reason for removal, date of appeal and any reason given for reinstatement. This should not adversely impact your application but gives the Law Society a complete picture of what has happened.

You should get in touch with Adam & Company International to obtain standard documents. The The Council of Mortgage Lenders Handbook includes an individual inquiry for lenders to establish who to contact to obtain standard documents. Adam & Company International in their Part 2’s state: Please remember to quote your Adam & Company International solicitors panel number.