Bank of Ireland Mortgages Conveyancing Lender Panel Compliance Tool

Lexsure’s COMPLETIONmonitor is an online pre- and post-completion checklist for residential conveyancing lawyers. Supported by the CML and professional indemnity insures. COMPLETIONmonitor is a unique risk mitigation tool.

This system is the only way you can demonstrate to lender panels that you are, and can remain fully compliant with their requirements, with automatic updates on Bank of Ireland Mortgages’s changes. Even though using COMPLETIONmonitor is not a prerequisite for Bank of Ireland Mortgages , demonstrating you can stay up to date with Bank of Ireland Mortgages’s Handbook requirements is a helpful support to your application to their lender panel and, just as importantly, protect your firm’s panel status.

The system generates real-time alerts, automatically produces SRA and CQS reports, and will enhance your firm's efficiency. It is also simply to use, cost-effective and, for some firms, results in a PII saving.

Find a Law Firm approved by Bank of Ireland Mortgages

Mortgage companies frequently change their requirements. The UK Finance Lenders’ Handbook requirements from Bank of Ireland Mortgages are not guidelines, they are instructions from a client. As with many clients, instructions can change - and they do change, frequently:

A Timeline of Policy Changes

Since 2008, Bank of Ireland Mortgages has made 258 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 10.6 days. In total, 59% of the sections of P2 of the UK Finance Lenders’ Handbook for Bank of Ireland Mortgages have been changed since 15/12/2008.

To find out more about lender panel compliance,

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Recent Changes Include

# Date Assoc. Changes Related To
16.3.7a 15/11/2016 CML
16.5.2 15/11/2016 CML
6.7.1 21/10/2016 CML
5.8.5 21/10/2016 CML
5.14.1 13/10/2015 CML
6.14.1a 01/12/2014 CML
6.14.1c 01/12/2014 CML
6.14.4 01/12/2014 CML
3.1.3 01/12/2014 CML
6.7.1 10/09/2013 CML

Last update 22/09/2019

Examples of recent questions relating to the Bank of Ireland Mortgages Conveyancing Panel from members of the public

I am selling my flat and the EA has just e-mailed to say that the purchasers are switching solicitor. The excuse is that Bank of Ireland Mortgages will only work with solicitors on their approved list. On what basis would a major mortgage company only engage with certain lawyers?
UK lenders have always had an approved set of law firms they are willing to work with, but in the past few years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.

Banks blame a rise in fraud as the reason for the cull – criteria have been tightened and a smaller panel should be easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels, or have other concerns about them. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyer’s case. Your purchasers are unlikely to have any sway in the decision.

My lawyer has uncovered an inconsistency when comparing the information in Bank of Ireland Mortgages’s valuation survey and what is revealed within the title deeds. My lawyer has advised that as he is on the Bank of Ireland Mortgages conveyancing panel he must ensure that the bank is with this discrepancy and is still content to lend. Is my conveyancer’s stance appropriate?
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) which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
Your search tool is useful but there are many lawyers listed near Chelsea on the Bank of Ireland Mortgages conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the Bank of Ireland Mortgages approved panel?
We do not recommend specific firms 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. Before you appoint your lawyer we advise you to speak to two or three of the firms listed to gain comfort as to which one is right for you..
I am considering applying for a Bank of Ireland Mortgages mortgage for purchase of a newly converted (under development) with 70% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Bank of Ireland Mortgages?
There is nothing to stop you using your solicitor but Bank of Ireland Mortgages will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
For 5 years I had a mortgage with Bank of Ireland Mortgages. My uncle retired last week and wants to pay off my mortgage. After Bank of Ireland Mortgages is paid, I want to transfer the property to my mother's name; How long will it roughly take? Do we need two separate solicitors on the Bank of Ireland Mortgages conveyancing panel? I do not intend to live at the property once the Bank of Ireland Mortgages mortgage is discharged.
Although you do need to retain the services of a lawyer they dont need to be on the Bank of Ireland Mortgages panel. You will need a solicitor to draw up the transfer and to deal with the Land Registry formalities. The only thing you need to consider is that by selling at an undervalue so ask your lawyer about the implications. There could be an inheritance tax issue if you die within 7 years of this. There's no capital gains tax for you as it is your main residence.
Completion of my remortgage has taken place with a mortgage from Bank of Ireland Mortgages. Conveyancing was a necessary evil but I would like to complain about Bank of Ireland Mortgages. Who do I contact should I wish to lodge a complaint?
Almost all lenders have complaints procedures. Your first point of contact should be one of the Bank of Ireland Mortgages branches or the Customer Services Team at Bank of Ireland Mortgages head office. We understand that complaints to Bank of Ireland Mortgages are resolved very quickly. However if you are not satisfied that the matter is resolved you can write to the Financial Ombudsman Service at South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
Bank of Ireland Mortgages 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 Mortgages or your broker and complete any relevant paperwork. Bank of Ireland Mortgages will tell you what documents they want. Bank of Ireland Mortgages 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 Mortgages 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.