Bank of Ireland Conveyancing Panel Sample Enquires to our Call Center from members of the public
My property lawyer is not on the Bank of Ireland Approved Panel. Is it possible for me to continue with my preferred solicitor notwithstanding that they are excluded from the Bank of Ireland panel of approved conveyancing solicitors?
The most common options here are as follows:
- Complete the purchase with your existing lawyers but Bank of Ireland will need to instruct a lawyer on the Bank of Ireland conveyancing panel. This will result in additional cost and potential delay.
- Get a new solicitor to act in the purchase, obviously checking they are on the Bank of Ireland conveyancing panel.
- Urge your lawyer to apply to join the Bank of Ireland lender panel
I am due to move into my new home next Tuesday. I have now been asked to send a copy of my building insurance schedule by my solicitor as as he informs me that he is duty bound to validate that it is in order for Bank of Ireland. What risks do Bank of Ireland expect the insurance to cover?
All property lawyers on the Bank of Ireland conveyancing panel would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in Bank of Ireland’s Part 2 requirements of the CML Handbook (last updated on Bank of Ireland). Being on the Bank of Ireland conveyancing panel your lawyer is expect to follow these instructions.
Whilst your website is a good idea there are many lawyers listed near London 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 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. We recommend that you speak to 3 or 4 lawyers listed before you make your choice..
I am trying to get my ex-husband taken off the mortgage deeds. Can Bank of Ireland really insist on which solicitor I can or can not retain?
You can use any solicitor you like but Bank of Ireland then has the right to appoint a different solicitor to act for them at your expense. It might be more cost effective and quicker to instruct a lawyer who is on the Bank of Ireland solicitors panel
How can we tell if a solicitor on the Bank of Ireland panel is any good?
seeking recommendations is a sensible start. Before you go ahead check if they offer a no sale no fee offer. Also you often get what you pay for - a firm which quotes more will often provide a better service than one which is cheap as chips. We would always advocate that you speak with the lawyer handling your transaction
I have instructed a lawyer having checked that they are on the Bank of Ireland conveyancing panel. Does my lawyer arrange the survey of the property?
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I've digested plenty of house buying,I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my solicitor - who is on the Bank of Ireland conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Bank of Ireland will need an independent valuation of the property. Your lawyer will not arrange this. Usually Bank of Ireland will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey.
You may wish to consider appointing your own surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
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Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by postcode. As you are getting a mortgage with Bank of Ireland you could contact your them to see if they have a list of approved surveyors.
My offer on house has been accepted, the seller does however have a dependent purchase. The vendors have offered on somewhere, but not been accepted yet, and have viewings of other properties booked. My conveyancing solicitor has been instructed. What do I do now? At what point should I appy for the mortgage with Bank of Ireland?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx £1k, then survey/valuation, conveyancing search costs, etc). First you should check that your solicitor is on the Bank of Ireland conveyancing panel. As to the next stages this very much depends on the circumstances of your case, desire for this property and on the state of the market. In a hot mortgage some buyers would pally for the mortgage with Bank of Ireland and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.
