FAQs for the Bank of Ireland Mortgages Conveyancing Panel from members of the public
I appointed a firm of solicitors to conduct the legal paperwork on my house purchase 4 weeks ago having applied for a mortgage with Bank of Ireland Mortgages. The law firm assured me that they are on Bank of Ireland Mortgages conveyancing panel and gave me their panel reference. Bank of Ireland Mortgages then told me that their panel number was dormant and would need to be reactivated. What happens next? Do I instruct a different law firm listed on the conveyancing panel for Bank of Ireland Mortgages?
You may be very frustrated with the lawyer but if it only go take a few more days they it may be worth waiting as, depending on how far progressed you are you may end up delaying the transaction by a number of weeks if you need to replace your solicitor You may wish to enlist the help of your broker to check with the Bank of Ireland Mortgages as to how long they think it will take to get the firm to get back on the panel.
I am purchasing a new build duplex and my solicitor is telling me that she has to reveal incentives from the developer as her firm is on the Bank of Ireland Mortgages conveyancing panel. The Estate Agents are hassling me to exchange contracts and my preference is not to prolong the conveyancing. is my lawyer taking the correct approach?
You should not exchange unless you have advised to do so by your lawyer. A precondition to being on the Bank of Ireland Mortgages approved panel is to comply with the CML Handbook requirements (last updated for this lender on Bank of Ireland Mortgages). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Do I have to pop into the offices of the Bank of Ireland Mortgages conveyancing panel solicitor to sign the legal charge? If so, I will appoint a lawyer who conducts conveyancing in London
so that I can pop in to their offices if necessary.
Whereas this was necessary ten years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in London
.
We're in Birmingham, First time buyers buying with a mortgage (lender is Bank of Ireland Mortgages , but our solicitor is on the Bank of Ireland Mortgages conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Bank of Ireland Mortgages conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a time-frame for your conveyancing due to third parties outside of our control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain
My wife and I have arranged a further advance on our mortgage from Bank of Ireland Mortgages as we wish to carry out a loft conversion to our home. Do we need to appoint a solicitor on the Bank of Ireland Mortgages conveyancing panel to deal with the paperwork?
Bank of Ireland Mortgages do not ordinarily appoint a member of 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 Bank of Ireland Mortgages list
My brother and I have agreed a price on a flat I spoke to a solicitor previously used by my mum and he recommended instructing a solicitor approved by Bank of Ireland Mortgages. The estate agent recommended two local firms so I asked Bank of Ireland Mortgages if the 2 suggested solicitors are approved, which they are not. Bank of Ireland Mortgages suggested that either practice can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of Bank of Ireland Mortgages 's conveyancing panel solicitors (2) Use the local solicitor and accept there may be delays etc as they go through the approval process.
Ask Bank of Ireland Mortgages to suggest a law firm in your location. Lenders have them all over the country. You can also use our search tool at the top of this page to search for a lawyer on the Bank of Ireland Mortgages conveyancing panel based on location. If you particularly like the sound of one of the local lawyers that you have spoken to ask them if they would go onto Bank of Ireland Mortgages conveyancing panel as it may only take about 2-3 weeks. As long as they meet Bank of Ireland Mortgages’s requirements it can be a very simple job for the solicitor. Other stuff will be going on in parallel (as you are at an early stage) so it may not delay matters.
Intending to buy a house with a mortgage with Bank of Ireland Mortgages. I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Bank of Ireland Mortgages conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that they are on the Bank of Ireland Mortgages conveyancing panel