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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?Is my firm on the Bank of Ireland (UK) plc Conveyancing Panel? 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
Examples of recent questions relating to the Bank of Ireland Solicitor Panel
Am I correct in assuming that the fact that my solicitor is not isted on the Bank of Ireland Solicitor panel that there is a problem with the standard of the firm’s work?
That would more than likely be a wrong assumption to make. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should simply call the firm and ask them why they are no longer on the approved list for Bank of Ireland.
Please help. My solicitor is advising me that he has to apply for a Local Authority search stemming from the fact that the firm are on the Bank of Ireland solicitor panel. The searches cost a lot of money. Can this be avoided?
Unfortunately both you and your lawyer have little choice here. Given that you are taking out a loan with Bank of Ireland your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of Bank of Ireland’s conveyancing panel appointment which obliges them to follow the CML Handbook requirements last updated Bank of Ireland. even if you were a cash buyer you would be ill advised not to carry out a local authority search.
I am planning to acquire a flat and need a conveyancing solicitor in Liverpool who is on the Bank of Ireland solicitor. Could you point me in the right direction as regards a conveyancing firm?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for Bank of Ireland . We don’t recommend any particular firm.
Can you clarify what the consequences are if my solicitor is removed from the Bank of Ireland Conveyancing panel in advance of the moving date as agreed at exchange of contracts?
The first thing to point out is that, this is very unlikely to happen. 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.
The mortgage over my property is with Bank of Ireland. Conveyancing was finalised months ago. In the event that I decide to rent out the flat 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?
Bank of Ireland must be informed of your intention prior to letting out your property as this is likely to be a breach of Bank of Ireland’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 directly. You need not do this via a Bank of Ireland conveyancing panel firm.
I can not work out if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date . I have called 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. Who do I believe?
Your lawyer has to follow the CML Handbook Part 2 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.
Bank of Ireland have agreed my mortgage in principle, my offer on house has been accepted, now what?
The estate agent will want to know who your solicitors are (make sure these solicitors are on the lenders panel). Call up Bank of Ireland or your broker and complete any relevant paperwork. Bank of Ireland will tell you what documents they want. Bank of Ireland will instruct a valuer. The valuer will get in touch with the estate agent or seller to book an appointment. Once conducted (assuming no problems) it takes about week to get a mortgage offer. Bank of Ireland will issue the offer to you and your lawyer. The transaction will then take it’s course according the nature and complexity of the conveyancing.