Q and A’s regarding the Allied Irish Bank Solicitor Panel
from members of the public
I am obtaining a offer of a mortgage from Allied Irish Bank. I intend to employ the services of a Licensed Conveyancer. Does the Allied Irish Bank Solicitor panel allow for conveyancers regulated by the CLC
Allied Irish Bank’s conveyancing panel is, like many other lenders represented by the Council or Mortgage Lenders or BSA, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
Our solicitor is asking me for personal identification documents asserting that this forms part of his obligations as a solicitor on the Allied Irish Bank Conveyancing 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 Allied Irish Bank your lawyer also has to check ID documents to satisfy Allied Irish Bank
Do all the licensed conveyancers and solicitor practices listed on your search have online case tracking as I understood that this was a condition of being on the Allied Irish Bank solicitor panel?
The Council of Mortgage Lenders or BSA do not require online case tracking. Some law firms operate such technology and some don't.
Can you clarify what the consequences are if my solicitor is expelled from the Allied Irish Bank Conveyancing panel before the completion date?
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 for a fee.
How can we tell if a solicitor on the Allied Irish Bank panel is any good?
Getting recommendations is a good starting point. Before you go ahead check if they offer a no sale no fee offer. Also you often get what you pay for - a firm which quotes more will often provide a better service than one which is cheap as chips. We would always advocate that you speak with the lawyer conducting your conveyancing
I am about to exchange contracts on a purchase with a mortgage from Allied Irish Bank. The report from my solicitor mentions that Allied Irish Bank could withdraw their offer before completion. Is this right?
Lenders such as Allied Irish Bank can revoke their mortgage offer although this rarely happens. If Allied Irish Bank withdraw their offer they may or may not inform you or the lawyer as to their reasoning. There are various possible reasons but here are 5 examples:
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Where information comes to Allied Irish Bank ‘s attention regarding the customers or the security that they were not aware of prior to offer that affects their original decision to lend
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Allied Irish Bank may amend or withdraw an offer if the Allied Irish Bank conveyancing panel solicitor is unable to confirm compliance with any of the conditions of the mortgage offer or if any of the terms of the mortgage offer cannot be satisfied
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If the financial circumstances of the borrower have changed to the detriment and the Allied Irish Bank has been notified
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If the borrower informs Allied Irish Bank of a change in security address
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Where the lender has to take account a recent change in taxation
I am currently in the process of buying my council flat. I have a mortgage agreed with Allied Irish Bank. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event if you are getting a mortgage with Allied Irish Bank you will need to appoint a solicitor on the Allied Irish Bank conveyancing panel.