Examples of recent questions relating to the Ulster Bank Conveyancing Panel from members of the public
Is the fact that my conveyancer is not isted on the Ulster Bank Solicitor panel that there is a problem with the standard of the firm’s conveyancing?
That would more than likely be a wrong assumption to make. 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.
Can you clarify something for me?. For no fault of my lawyer but, my purchase conveyancing 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 6 months + 3. My lawyer says that as she is on the Ulster Bank conveyancing panel she needs to redo the searches as they are now out of date.
A precondition to being on the Ulster Bank approved panel is to comply with the CML Handbook Part 2 obligations (last updated for this lender on Ulster Bank)which states that a local authority search be not more than half a year old. You should nevertheless ask your lawyer to check whether something called ‘search validation’ indemnity insurance is acceptable to Ulster Bank.
Do all the licensed conveyancers and solicitor practices listed on your search have online case tracking as I understood that this was a condition of being on the Ulster Bank conveyancing panel?
No. There is no CML Part 2 or Building Society Association requirement relating to online case tracking. Some law firms operate such technology and some don't.
I am buying a new build flat and getting a mortgage with Ulster Bank. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing you will have to appoint a solicitor on the Ulster Bank conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to made in you doing to conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on the Ulster Bank conveyancing panel in your location.
Can I be sure that the solicitor on the Ulster Bank panel is any good?
obtaining recommendations is a sensible start. Before you go ahead check if they offer a no sale no fee offer. Also you often get what you pay for - a firm which quotes more will often provide a better service than one which is cheap as chips. We would always suggest that you speak with the lawyer carrying out your conveyancing
I have a mortgage with Ulster Bank. My father has just retired and wants to pay off my mortgage. After Ulster Bank is paid, I want to transfer the property to my mother's name; How long will it roughly take? Do we need two separate solicitors on the Ulster Bank conveyancing panel? I do not intend to live at the property once the Ulster Bank mortgage is discharged.
Although you do need to retain the services of a lawyer they dont
need to be on the Ulster Bank panel.
You will need a solicitor to draw up the transfer and
to deal with the Land Registry formalities. The only thing you need to
consider is that by selling at an undervalue so ask your lawyer about
the implications. There could be an inheritance tax issue if you die
within 7 years of this. As the property is your main residence you need
not pay CGT but you should speak with your accountants in any event.
I am due to exchange contracts on my flat. I had a double glazing fitted in month 7 but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Ulster Bank are being pedantic. The solicitor who is on the Ulster Bank conveyancing panel is saying indemnity insurance will be fine but Ulster Bank are insisting on 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.
