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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.
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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
Bank of Ireland Solicitor Panel Recently Asked Questions
My partner and I are FTBs. Within the last couple of days our lawyer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Bank of Ireland have this evening contacted us to inform me that they have now hit a problem as our solicitor is not on their conveyancing panel. Is this a problem?
If you are buying a property with the assistance of a mortgage it is usual for the purchaser's solicitors to also act for the purchaser's lender.
In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your property lawyers should contact Bank of Ireland and see if they can apply for membership of the Bank of Ireland conveyancing panel, but if that is not viable Bank of Ireland will instruct their own lawyers to represent them. You don't have to instruct a firm on the Bank of Ireland conveyancing panel as you are at liberty to use your preferred lawyers, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
We are due to exchange on the purchase a house but as a result of damage from the recent storms I have agreed compensation from the seller of £3k approx by way of a reduction in the price. This was going to be dealt with as part of the conveyancing process but my mortgage company Bank of Ireland will not agree to this. Why was Bank of Ireland even consulted?
Your lawyer being on the Bank of Ireland conveyancing panel is duty bound to inform Bank of Ireland of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to Bank of Ireland then they would have to discontinue acting for you and Bank of Ireland.
Your search tool is useful but there are many lawyers listed near Middlesbrough on the Bank of Ireland conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the conveyancing panel for Bank of Ireland ?
We are not in the business of recommending one firm above another 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. We recommend that you speak to 3 or 4 lawyers listed before you make your choice..
What happens if my solicitor is suspended from the Bank of Ireland Solicitor panel before the moving date as agreed at exchange of contracts?
First, 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.
is it true that all solicitors on the Bank of Ireland conveyancing panel overseen by the SRA?
As a firm of solicitors, in order to be on the Bank of Ireland conveyancing panel they would need to be regulated by the SRA. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
I have today made my last payment due on mortgage with Bank of Ireland. I assume I don't need a solicitor on the Bank of Ireland panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Bank of Ireland mortgage they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Bank of Ireland mortgage from the register. Bank of Ireland,and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
but are not moving to another property
where the Bank of Ireland has sent the Land Registry the discharge electronically, and
the Bank of Ireland has instructed the Land Registry to do so
The Land Registry will send you a letter confirming that your Bank of Ireland mortgage has been paid off.
The for formalities of my purchase has taken place with a mortgage from Bank of Ireland. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about Bank of Ireland. How does one go about formally complaining?
All banks and building societies have complaints procedures. Your first port of call should be one of the Bank of Ireland branches or the Customer Care Team at Bank of Ireland head office. In most cases complaints to Bank of Ireland are resolved effectively and efficiently. If you feel that the matter is not resolved you can write to the
Financial Ombudsman Service who will take matters further.
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Transfer of Equity for Bank of IrelandPlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors