FAQs for the Ulster Bank Conveyancing Panel from members of the public
My IFA has says he needs my lawyer’ panel reference for the Ulster Bank conveyancing panel. Can you suggest how I discover this. I have called my local Ulster Bank branch but they have not responded to me.
the sensible thing to do is ask for this information from your solicitor. A law firm is likely to keep a file or database of lender panel information which would include, if applicable their conveyancing panel details for Ulster Bank.
Our conveyancer has discovered a legal deficiency with the lease for the property we are purchasing. The seller’s lawyers have suggested defective title insurance as a workaround. We are happy with insurance and will pay for it. Our lawyer says that as he is on the Ulster Bank conveyancing panel he must ensure that the lender is happy with this solution. Are we the client or is Ulster Bank?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and Ulster Bank are the client. A precondition to being on the Ulster Bank approved panel is to comply with the CML Handbook requirements (last updated for this lender on Ulster Bank). The CML Handbook conditions require your lawyer to disclose issues such as defects will the lease so that Ulster Bank can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . 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.
Having used your search tool I can't find the lawyer I was hoping to instruct as being on the Ulster Bank conveyancing panel. My lawyer has said that they are on the Ulster Bank approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the Ulster Bank conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the Ulster Bank solicitor panel.
I was scheduled to move into my first house last Thursday. My solicitor is on the Ulster Bank solicitors panel but has changed address in the past couple of months and had not advised Ulster Bank of their new address. Ulster Bank has locked down the release of mortgage funds until such time as their systems are up to date with the correct details.
This is a rare situation indeed. The majority of lender Terms of Conveyancing Panel Appointment specifically oblige the solicitor to inform the lender of an address change. Your solicitor needs to treat this with the utmost urgency. Do speak with or register your concern with the senior partner (assuming he or she is not your direct lawyer). Most lenders would be reasonable in this situation and expedite the resolution of this issue. It may be prudent to enlist the help of your local Ulster Bank branch or your mortgage broker to see if they can help.
Are all solicitors on the Ulster Bank conveyancing panel regulated by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Ulster Bank conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
I had instructed online solicitors based in Bristol who are on the Ulster Bank solicitor panel. They are now charging me a separate fee of £135 for dealing with the Ulster Bank mortgage. Is this a supplemental conveyancing fee specified by Ulster Bank?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitors can charge a fee for this. This fee is not set by Ulster Bank but by your lawyers. Some firms on the Ulster Bank will charge an ‘acting for lender’ fee and others do not.
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 in the pipeline. My conveyancing solicitor has been instructed. What do I do now? 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.