Bank of Ireland Mortgages Conveyancing Lender Panel Compliance Tool

COMPLETIONmonitor is web-based pre- and post-completion checklist for residential conveyancing lawyers. Supported by the CML and PI insurers. COMPLETIONmonitor is a unique risk mitigation tool.

This software facilitates the way you can demonstrate to lender panels that you are, and can stay fully compliant with their requirements, with notifications given on Bank of Ireland Mortgages’s changes. Notwithstanding that utilising COMPLETIONmonitor is not a prerequisite for Bank of Ireland Mortgages , demonstrating you can remain up to date with Bank of Ireland Mortgages’s Handbook requirements is an excellent support to your application to their lender panel and, more importantly, protect your firm’s panel status.

COMPLETIONmonitor generates real-time alerts, automatically produces regulatory and CQS reports, and will enhance your firm's efficiency. In addition it is user friendly, cost-effective and, for some firms, leads to reduced PII premiums.

Find a Law Firm approved by Bank of Ireland Mortgages

Mortgage companies frequently vary 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, over time:

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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Bank of Ireland Mortgages Conveyancing Panel Recently Asked Questions from members of the public

Is there a reason why all property lawyers aren't included on the Bank of Ireland Mortgages Solicitor panel?
Even though it may seem unfair for Bank of Ireland Mortgages to restrict who can act for them from the public’s or solicitor’s point of view, the other side of the coin is that the lenders are becoming ever more anxious and feel the necessary need to protect them from mortgage fraud and other illegal activities. As a result of this concern Bank of Ireland Mortgages are limiting their panel of approved conveyancing lawyers to a manageable size. The Bank of Ireland Mortgages lawyer panel is not the most difficult to join
Our conveyancer has uncovered a defect with the lease for the flat we are buying. The seller’s lawyers have offered title insurance as a solution. We are content with insurance and will pay for it. Our lawyer has advised that as he is on the Bank of Ireland Mortgages conveyancing panel he must be satisfied that the lender is happy with this solution. Are we the client or is Bank of Ireland Mortgages?
Just because you have a mortgage offer from Bank of Ireland Mortgages does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the CML Handbook Requirements. You and Bank of Ireland Mortgages are the client. The appropriate lender requirements have to be complied with by the Bank of Ireland Mortgages conveyancing panel who has to balance acting for you and Bank of Ireland Mortgages
Do all the firms listed on your directory have online case tracking as I understood that this was a condition of being on the Bank of Ireland Mortgages conveyancing panel?
The Council of Mortgage Lenders or BSA do not require online case tracking. Some law firms operate such technology and some don't.
What happens if my solicitor is removed from the Bank of Ireland Mortgages Solicitor panel in advance of 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.
Last month we had a mortgage agreed in principle with Bank of Ireland Mortgages. Solicitors have been chosen? How long does it take for Bank of Ireland Mortgages to send the offer to our conveyancer
Some lenders take longer than others. Have Bank of Ireland Mortgages conducted the survey? Have you advised Bank of Ireland Mortgages as your lawyers details and checked that your lawyer is on the Bank of Ireland Mortgages conveyancing panel? It is not unusual for a mortgage offer to take a month to come through
The mortgage over my property is with Bank of Ireland Mortgages. Conveyancing has been completed some time ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Bank of Ireland Mortgages?
You must advise Bank of Ireland Mortgages prior to letting out your property as this is likely to be a breach of Bank of Ireland Mortgages’s mortgage conditions. It may be that Bank of Ireland Mortgages will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Bank of Ireland Mortgages directly. You need not do this via a Bank of Ireland Mortgages conveyancing panel lawyer.
Completion of my remortgage has taken place with a loan from Bank of Ireland Mortgages. Conveyancing was satisfactory but I feel I should register my dissatisfaction about Bank of Ireland Mortgages. Who do I contact should I wish to lodge a complaint?
All banks and building societies have complaints procedures. Your first point of contact should be one of the Bank of Ireland Mortgages branches or the Customer Care 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 who will take matters further.