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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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How does my firm apply to be on the Ulster Bank Conveyancing Panel? How can my firm be reinstated onto the Ulster Bank Conveyancing Panel?Find an Approved Solicitor on the Ulster Bank Conveyancing Panel
Common questions asked concerning the Ulster Bank Solicitor Panel
Is there a reason why all property lawyers are not on the Ulster Bank Conveyancing panel?
Mortgage companies point to the fact that solicitor-led fraud is thought to be responsible for millions of pounds of fraud every year. The removal of law firms off of lender panels started with the rise in mortgage fraud, which prompted a thematic review by the Financial Services Authority in 2011. Its outcome included recommendations for lenders to review their conveyancing panels, which kicked off a major policy change in the sector. It led to banks and building societies purging less reputable firms off their books
Can you clarify something for me?. For no fault of my lawyer but, the conveyancing for my house purchase has been going on for months. The Local Authority Search from Ulster Bank was dated random date and we have agreed a date for me to move into the property on Tues etc. My solicitor has advised that as she is on the Ulster Bank conveyancing panel she needs to reorder the searches as they are now out of date.
One of the many conditions to being on the Ulster Bank approved panel is to comply with the CML Handbook requirements (last updated for this lender on Ulster Bank)which states that a local authority search be not more than 6 months old. You should nevertheless ask your lawyer to check whether something called ‘search validation’ indemnity insurance is acceptable to Ulster Bank.
Is it necessary during the course of the conveyancing process to visit the offices of the Ulster Bank conveyancing panel solicitor to sign the legal charge? If so, I will instruct a firm who offer conveyancing in London
so that I can attend their offices if necessary.
Whereas this was necessary 15 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 London
.
Please explain the implications if my solicitor is suspended from the Ulster Bank Conveyancing panel prior to completion?
First, this is a very rare occurrence. 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.
My brother and I have agreed a price on a apartment I spoke to a lawyer previously used by my brother and he recommended using a law firm approved by Ulster Bank. The estate agent recommended two local firms so I asked Ulster Bank if the 2 suggested solicitors are approved, which they are not. Ulster Bank pointed out that either firm can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of Ulster Bank 's conveyancing panel solicitors (2) Use the local solicitor and accept there may be delays etc as they go through the approval process.
Enquire of Ulster Bank for conveyancing panel firms in your area. Lenders have them all over the country. You can also use our search tool at the top of this page to search for a lawyer on the Ulster Bank conveyancing panel based on location. If you particularly like the sound of one of the local lawyers that you have spoken to ask them if they would go onto Ulster Bank conveyancing panel as it may only take about 2-3 weeks. As long as they meet Ulster Bank’s requirements it can be a very simple job for the solicitor. Other stuff will be going on in parallel (as you are at an early stage) so it may not delay matters.
My offer on house has been accepted, but there is a chain. The vendors have offered on somewhere, but not been accepted yet, and have viewings of other properties booked. My conveyancing solicitor has been instructed. What should be my next step? When should I get the mortgage app going with Ulster Bank?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx £1k, then survey/valuation, conveyancing search costs, etc). First you should check that your solicitor is on the Ulster Bank conveyancing panel. As to the next stages this very much depends on the circumstances of your case, desire for this property and on the state of the market. In a hot mortgage some buyers would pally for the mortgage with Ulster Bank and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.
We are are remortgaging a penthouse in Hendon. Conveyancing solicitors in Hendon are about to begiven the go-ahead. My agentsuggested that we check that the property lawyer in Hendon is on the Ulster Bank approved list of lawyers. Is this right?
A limited percentage of Hendon conveyancing firms are on the Ulster Bank conveyancing panel. 8 people a month use our search tool to locate a Hendon conveyancing solicitor on the on the Ulster Bank list of approved conveyancing firms.
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Transfer of Equity for Ulster BankPlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors