Bank of Ireland Conveyancing Lender Panel Compliance Tool

COMPLETIONmonitor is web-based pre- and post-completion checklist for property lawyers. Supported by the Council of Mortgage Lenders and professional indemnity insures. It is a unique risk mitigation tool.

This software assists the way you can prove to lender panels that you are, and can stay fully compliant with their requirements, with automatic updates on Bank of Ireland’s changes. While utilising the tool is not a condition for being on the Bank of Ireland panel, demonstrating you can remain up to date with Bank of Ireland’s Handbook requirements is a helpful support to your application to their lender panel and, more importantly, safeguard your firm’s panel status.

The software generates real-time alerts, automatically produces regulatory and CQS reports, and will enhance your firm's efficiency. In addition it is simply to use, cost-effective and, for some firms, results in a PII saving.

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Mortgage companies frequently vary their requirements. The UK Finance Lenders’ Handbook requirements from Bank of Ireland 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 has made 175 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 15.6 days. In total, 27% of the sections of P2 of the UK Finance Lenders’ Handbook for Bank of Ireland have been changed since 15/12/2008.

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FAQs for the Bank of Ireland Conveyancing Panel from members of the public

Am I correct in assuming that the fact that my conveyancer is not isted on the Bank of Ireland Solicitor panel that there is a problem with the quality of her work?
That would more than likely be a wrong assumption to make. 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 top 3 reasons are as follows: (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.
We are due to exchange on the purchase a house but as a result of damage from the recent storms I have agreed compensation from the seller of £3k approx by way of a reduction in the price. This was going to be dealt with as part of the conveyancing process but my mortgage company Bank of Ireland will not agree to this. Why was Bank of Ireland even consulted?
Your lawyer being on the Bank of Ireland conveyancing panel is duty bound to inform Bank of Ireland of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to Bank of Ireland then they would have to discontinue acting for you and Bank of Ireland.
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 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.
I was expecting to move into my dream home last Friday. My lawyer’s firm is on the Bank of Ireland solicitors panel but has changed address 8 weeks ago and had not informed Bank of Ireland of their new address. Bank of Ireland has locked down the release of mortgage funds as the information from the solicitors isn't correct.
This is as unusual as it is unlucky. The majority of 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 assist.
When it comes to lenders such as Bank of Ireland do solicitors have to be pay a fee to be on the conveyancing panel?
We are not aware of any lender fees to be on their panel although some do charge an administration charge to deal with the processing of the conveyancing panel application.
I am selling my house. I had a double glazing fitted in month 8 but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Bank of Ireland are being a right pain. The solicitor who is on the Bank of Ireland conveyancing panel is recommending indemnity insurance as a solution but Bank of Ireland are insisting on a building regulation certificate. Why do Bank of Ireland have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Bank of Ireland have referred the matter to their valuer. The reason why Bank of Ireland may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing correctly and safely installed. It merely protects against enforcement action which is very unlikely anyway.
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.