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approved by Ulster Bank
Ready to buy a new home? Failing to check that a lawyer is on the Ulster Bank list of approved solicitors can put your transaction at risk of delay or failure.
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Ulster Bank Conveyancing Panel : Questions and Answers
Is the fact that my solicitor is not isted on the Ulster Bank Solicitor panel that there is a problem with the standard of her conveyancing?
It would not be wise to jump to that conclusion. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The top 3 reasons are as follows: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should simply call the firm and ask them why they are no longer on the approved list for Ulster Bank.
Much to my surprise my lawyer is asking me for proof of ID documents asserting that this forms part of his obligations as a conveyancer on the Ulster Bank Solicitor panel. Am I being spun a yarn?
Anti-terror and anti-money-laundering rules require solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with before they can accept their conveyancing business. The Terms and Conditions that you need to sign will no doubt confirm this. Your lawyer is right that Ulster Bank also require certain documents to be viewed. If a you refuse to provide ID verification documents, your conveyancer would not be able to accept instructions from you. Your lawyer also has obligations to obtain certain documents in accordance with Ulster Bank CML Handbook requirements last updated on Ulster Bank
Is it necessary during the course of the conveyancing process to have a meeting at the offices of the Ulster Bank conveyancing panel solicitor to sign the legal charge? If so, I will choose one who does conveyancing in Manchester so that I can pop in to their offices when needed.
Whereas this was necessary 12 years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in Manchester .
My grandfather passed away six months ago and as sole heir and executor was left the property. The house had a small mortgage remaining of approximately £8000. I want to have the title changed into my name whilst I re-mortgage to Ulster Bank , pay off the mortgage etc. Is this allowed?
If you intend to re-mortgage then Ulster Bank will insist on your using a conveyancer on the Ulster Bank 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 Ulster Bank 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 Ulster Bank mortgage is registered as a charge at the Land Registry.
Is it the case that all conveyancing solicitors on the Ulster Bank conveyancing panel work on a no sale no fee basis?
In the main there are no requirements by lenders for their firms to operate on a no-sale-no-fee basis. There a small number of lenders who operate a very restricted conveyancing panel managed by a third party company (often termed in the industry as a ‘gatekeeper’). That third party may impose certain conditions such as non-sale-no fee on the panel firms. If you require this as a condition of your conveyancing then you should check with the conveyancing firm that this is part of their service
I am selling my flat. I had a double glazing fitted in month 8 but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Ulster Bank are being problematic. The solicitor who is on the Ulster Bank conveyancing panel is recommending indemnity insurance as a solution but Ulster Bank are requiring a building regulation certificate. Why do Ulster Bank have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Ulster Bank have referred the matter to their valuer. The reason why Ulster Bank 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.
Intending to buy a flat with a mortgage with Ulster Bank. 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 Ulster Bank 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 Ulster Bank conveyancing panel
Other TopicsTransfer of Equity for Ulster Bank
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