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Ready to buy a new home? Failing to check that a lawyer is on the AUB list of approved solicitors can put your transaction at risk of delay or failure.
Find an Approved Solicitor on the Ahli United Bank (UK) plc Conveyancing Panel
Ahli United Bank Conveyancing Panel : Questions and Answers
We are buying a 3 bedroom flat in Newcastle with a mortgage from Ahli United Bank. We would like to retain our solicitor but Ahli United Bank says she’s not on their "panel". It seems we have little choice but to instruct one of the Ahli United Bank panel firms or keep our solicitor and pay for one of their panel ones to represent them. This seems very unfair; is there anything we can do?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the Ahli United Bank conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your lawyer to apply to be on the conveyancing panel for Ahli United Bank
Expecting to complete my purchase next Friday. I have now been asked to send a copy of my building insurance schedule by my solicitor as as he informs me that he is duty bound to validate that it is in order for Ahli United Bank. What risks do Ahli United Bank expect the insurance to cover?
Any lawyer on the Ahli United Bank conveyancing panel would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in Ahli United Bank’s Part 2 requirements of the CML Handbook (last updated on Ahli United Bank). Being on the Ahli United Bank conveyancing panel your lawyer is expect to follow these requirements.
Your search tool is useful but there are many lawyers listed near Hackney on the Ahli United Bank conveyancing panel. Can you recommend a specific firm on the Ahli United Bank approved panel?
We do not recommend specific firms as the right firm for you depends on where your priorities lie. For example you may require a local firm with local knowledge or you might be looking for the low cost conveyancing. Before you appoint your lawyer we advise you to speak to two or three of the firms listed to gain comfort as to which one is right for you..
Can you clarify what the consequences are if my lawyer’s firm is suspended from the Ahli United Bank Solicitor panel prior to the moving date as agreed at exchange of contracts?
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.
Can you point me to a directory of Ahli United Bank panel conveyancers on the Council of Mortgage Lender’s Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few lenders make their panel listings available online.
My fiance and I are in the process of looking at flats and am about to put in an offer. Is it premature to have a solicitor in place? I will be getting a home loan with Ahli United Bank
It would be sensible to have your start your search soon rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on the the estate agent. As you are getting a mortgage with Ahli United Bank , make sure you remember to check that your lawyer is on the Ahli United Bank conveyancing panel.
Planning on purchasing a flat with a mortgage with Ahli United Bank. I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Ahli United 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 Ahli United Bank conveyancing panel