Allied Irish Bank Conveyancing Panel : Questions and Answers
from members of the public
For what reasons could a law firm be removed from the Allied Irish Bank solicitor panel?
According to a recent survey report by the solicitors regulator three quarters of solicitor practices had been removed from a lender panel. The most common reasons in order are :
- lack 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 Allied Irish Bank
I am due to move into my new home next Thursday. My conveyancing lawyer has asked me to provide him with a copy of the building insurance for the house as he says that he has to check this in has capacity as lawyer for Allied Irish Bank. What does the insurance need to cover?
Any lawyer on the Allied Irish Bank conveyancing panel would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in Allied Irish Bank’s Part 2 requirements of the CML Handbook (last updated on Allied Irish Bank). Being on the Allied Irish Bank conveyancing panel your lawyer is expect to follow these instructions.
What tools are available to find a local solicitor on the Allied Irish Bank conveyancing panel? I have a car and am prepared to travel up to 25 miles to meet the lawyer.
You can use the find a conveyancing panel tool on this page. Please choose the lender and your location and you will see a number of lawyer located nearest you. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the Allied Irish Bank solicitor panel.
Please explain the implications if my solicitor is removed from the Allied Irish Bank Solicitor panel prior to 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 at a cost.
Is the case that all CQS (Conveyancing Quality Scheme) solicitors on the Allied Irish Bank conveyancing panel?
It is true that some lenders now use CQS as the starting point for Panel membership such as HSBC and Santander. CQS membership however gives 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 firms.
My wife and I have arranged a further advance on our mortgage from Allied Irish Bank as we wish to carry out a loft conversion to our home. Do we need to appoint a solicitor on the Allied Irish Bank conveyancing panel to deal with the legals?
Allied Irish Bank do not ordinarily appoint firms on their conveyancing panel to deal with such a matter. If they did require any legal work then you would need to ensure that such a lawyer was on the Allied Irish Bank panel
We have agreed to purchase a house.One unusual aspect is that the roof has a solar panel. Allied Irish Bank have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with Allied Irish Bank your lawyer must to check the Allied Irish Bank conveyancing instructions contained in the Part of CML Handbook for Allied Irish Bank . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to Allied Irish Bank where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. The CML are developing guidance for Northern Ireland and Scotland.