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approved by Bank of Ireland
Ready to buy a new home? Failing to check that a lawyer is on the Bank of Ireland list of approved solicitors can put your transaction at risk of delay or failure.
Looking for information about your firm's panel status?How does my firm apply to be on the Bank of Ireland (UK) plc Conveyancing Panel? How can my firm be reinstated onto the Bank of Ireland (UK) plc Conveyancing Panel?
Find an Approved Solicitor on the Bank of Ireland (UK) plc Conveyancing Panel
FAQs for the Bank of Ireland Solicitor Panel
For what reasons would a law firm be excluded from the Bank of Ireland approved conveyancing panel?
A survey recently commissioned by the Solicitors Regulatory Authority found that three quarters of law firms had been excluded from a lender panel. The top reasons in order are :
- Low volume of transactions
- the lawyer is a sole practitioner
- as part of the HSBC panel reduction
- regulatory contact by SRA
- accidental removal. We are not aware of the specific or common criteria for removal by Bank of Ireland
My son is purchasing a newly built flat with a home loan from Bank of Ireland. His conveyancer has advised him of a delay in completing the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The form is intended to provide information to the main parties engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Bank of Ireland conveyancing panel as a standard part of the process, and to the valuer when asked.
The Developer will be required to start the process by downloading the form and completing it.
The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Bank of Ireland conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Do banks and building societies provide you with an approved list of solicitors? How do you know who is on the Bank of Ireland conveyancing panel?
The firms themselves provide us confirmation that they are on the Bank of Ireland conveyancing panel as opposed to being supplied with a list from Bank of Ireland directly.
My uncle passed away six months ago and as sole heir and executor was left the property. The house had a small mortgage remaining of approximately £5k. I want to have the title changed into my name whilst I re-mortgage to Bank of Ireland , pay off the mortgage etc. Is this allowed?
If you intend to re-mortgage then Bank of Ireland will insist on your using a conveyancer on the Bank of Ireland conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Bank of Ireland conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Bank of Ireland mortgage is registered as a charge at the Land Registry.
Is the case that all CQS (Conveyancing Quality Scheme) solicitors on the Bank of Ireland conveyancing panel?
It is true that some lenders now use CQS as the starting point for Panel membership such as HSBC and Santander. CQS accreditation however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of conveyancing solicitors.
When it comes to lenders such as Bank of Ireland do solicitors have to be pay a fee to be on the list of approved solicitors?
We are not aware of any lender fees to be on their panel although some do charge an administration charge to deal with the processing of the conveyancing panel application.
It is not clear whether my mortgage offer requires a lease extension . I have telephoned Bank of Ireland on various occasions and was told they are content with the situation and they would lend. My solicitor - who is on the Bank of Ireland conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. I simply dont know who is right
As long as the conveyancer is on the Bank of Ireland panel she or he must comply with the CML Handbook requirements for Bank of Ireland. Unless your lawyer obtains specific confirmation in writing that Bank of Ireland will go ahead your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask Bank of Ireland to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.
Other TopicsTransfer of Equity for Bank of Ireland
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