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How does my firm apply to be on the Bank of Ireland as Bank of Ireland Mortgages Conveyancing Panel? How can my firm be reinstated onto the Bank of Ireland as Bank of Ireland Mortgages Conveyancing Panel?Find an Approved Solicitor on the Bank of Ireland as Bank of Ireland Mortgages Conveyancing Panel
Bank of Ireland Mortgages Solicitor Panel Recently Asked Questions
I would like to know the reason why all UK lawyers aren't included on the Bank of Ireland Mortgages Conveyancing panel?
Lenders 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
Much to my surprise my conveyancing solicitor is asking me for identification documents asserting that this forms part of his obligations as a conveyancer on the Bank of Ireland Mortgages Solicitor panel. Is this right?
Due to Money Laundering Regulations your conveyancing lawyer is duty bound to confirm positively your identification when entering into a business relationship with you. It is a criminal offense if your lawyer not do this. If you do not provide ID early in the transaction the solicitor must refuse to act for you. It’s unlikely a lawyer will turn you away if you come to the first meeting without relevant ID but you will have to produce it at some point so you might as well bring it with you to the initial meeting so the lawyer can tick the ID verification box and start sorting out the conveyancing straight away. If you are getting a mortgage with Bank of Ireland Mortgages your lawyer also has to check ID documents to satisfy Bank of Ireland Mortgages
Do all the licensed conveyancers and solicitor practices listed on your directory have online case tracking as I was under the impression that this was a precondition of being on the Bank of Ireland Mortgages conveyancing panel?
The Council of Mortgage Lenders or BSA do not require online case tracking. Some law firms operate such technology and some don't.
The lawyers that just started acting on my house acquisition in London has without warning closed. I only went with them because I needed a solicitor on the Bank of Ireland Mortgages conveyancing panel and my family lawyer was not. I paid them £200 on account. What should be my next steps?
If you have an estate agent involved then inform them straight away so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Bank of Ireland Mortgages conveyancing panel and notify the lender. If you have paid over any money it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers should be in a position to help
Two weeks ago we had a mortgage agreed in principle with Bank of Ireland Mortgages. Solicitors have been chosen? What is the average time that one could expect to receive a mortgage offer from Bank of Ireland Mortgages?
Some lenders take longer than others. Have Bank of Ireland Mortgages done the valuation? Have you advised Bank of Ireland Mortgages as your lawyers details and checked that your lawyer is on the Bank of Ireland Mortgages conveyancing panel? sometimes it can take as long as six weeks for a mortgage offer to be issued
I currently have a mortgage with with Bank of Ireland Mortgages. Conveyancing was finalised some time ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Bank of Ireland Mortgages?
Bank of Ireland Mortgages must be informed of your intention in advance of letting out your property as this is likely to be a breach of Bank of Ireland Mortgages’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Bank of Ireland Mortgages directly. It should not be necessary to do this via a Bank of Ireland Mortgages conveyancing panel lawyer.
I am due to exchange contracts on my house. I had a double glazing fitted in month 8 but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Bank of Ireland Mortgages are being a right pain. The solicitor who is on the Bank of Ireland Mortgages conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Bank of Ireland Mortgages are insisting on a building regulation certificate. Why do Bank of Ireland Mortgages have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Bank of Ireland Mortgages have referred the matter to their valuer. The reason why Bank of Ireland Mortgages 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.