Examples of recent questions relating to the Bank of Ireland Solicitor Panel from members of the public
Am I correct in assuming that the fact that my solicitor is not identified on the Bank of Ireland Solicitor panel that there is a problem with the standard of her work?
It would not be wise to jump to that conclusion. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should simply call the firm and ask them why they are no longer on the approved list for Bank of Ireland.
Our conveyancer has uncovered a defect with the lease for the apartment we are purchasing. The other side have offered defective title insurance as a solution. We are happy with insurance and will pay for it. Our lawyer has advised that as he is on the Bank of Ireland conveyancing panel he must be satisfied that the lender is happy with this solution. Are we the client or is Bank of Ireland?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and Bank of Ireland are the client. A precondition to being on the Bank of Ireland approved panel is to comply with the CML Handbook requirements (last updated for this lender on Bank of Ireland). The CML Handbook conditions require your lawyer to disclose issues such as defects will the lease so that Bank of Ireland can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . 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 Hackney on the Bank of Ireland conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the Bank of Ireland approved panel?
We are not in the business of recommending one firm above another 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 was expecting to complete on my dream home last Friday. My solicitor is on the Bank of Ireland conveyancing panel but has changed address 8 weeks ago and had not informed Bank of Ireland of their new address. Bank of Ireland is now refusing to release my funds until such time as their systems are up to date with the correct details.
This is as unusual as it is unlucky. Most lender Terms of Conveyancing Panel Appointment specifically oblige the solicitor to inform the lender of an address change. Your solicitor needs to treat this with the utmost urgency. Do speak with or register your concern with the senior partner (assuming he or she is not your direct lawyer). Most lenders would be reasonable in this situation and expedite the resolution of this issue. It may be prudent to enlist the help of your local Bank of Ireland branch or your mortgage broker to see if they can help.
Is it the case that all conveyancing lawyers on the Bank of Ireland conveyancing panel work on a no sale no fee basis?
There is generally no requirements by lenders for their firms to operate on a no-sale-no-fee basis. There a small number of lenders who operate a very restricted conveyancing panel managed by a third party company (often termed in the industry as a ‘gatekeeper’). That third party may impose certain conditions such as non-sale-no fee on the panel firms. If you require this as a condition of your conveyancing then you should check with the conveyancing firm that this is part of their package
Intending to buy a house with a mortgage with Bank of Ireland. 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 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 conveyancing panel
Bank of Ireland 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 or your broker and complete any relevant paperwork. Bank of Ireland will tell you what documents they want. Bank of Ireland 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 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.
