Hi,
It seems Ulster Bank has started refusing to release deeds to solicitors on Accountable Trust Receipt (the normal way to sell a house) where a property whose sale they have directed is in negative equity - this will basically prevent a solicitor from drawing up contracts for sale. The Law Society is understandably unimpressed. Link:
They have also come up with a new requirement that any second-hand property constructed in the past ten years must have Homebond cover, despite same often not being required at the time of construction. They are treating this as a title issue, which it isn't (according to the Law Society). Link:
One would have to wonder whether they intend to deal with conveyancing at all any more or if it's just yet another layer of their usual incompentance.
It seems Ulster Bank has started refusing to release deeds to solicitors on Accountable Trust Receipt (the normal way to sell a house) where a property whose sale they have directed is in negative equity - this will basically prevent a solicitor from drawing up contracts for sale. The Law Society is understandably unimpressed. Link:
They have also come up with a new requirement that any second-hand property constructed in the past ten years must have Homebond cover, despite same often not being required at the time of construction. They are treating this as a title issue, which it isn't (according to the Law Society). Link:
One would have to wonder whether they intend to deal with conveyancing at all any more or if it's just yet another layer of their usual incompentance.