Common questions asked concerning the Bank of Ireland Solicitor Panel from members of the public
I am getting a mortgage with Bank of Ireland. my intention is to enlist the help of a Licensed Conveyancer. Does the Bank of Ireland Conveyancing panel allow for conveyancers regulated by the CLC
Bank of Ireland’s conveyancing panel is, like many other lenders associated to the Council or Mortgage Lenders or BSA, open to Licensed Conveyancers regulated by the CLC.
Please assist. For no fault of my lawyer but, the conveyancing for my house purchase has been going on for months. The Local Authority Search from Bank of Ireland was date stamped random date and we have agreed a date for me to move into the property on Tues etc. My lawyer has advised that as she is on the Bank of Ireland conveyancing panel she needs to reorder the searches as they are now out of date.
A precondition to being on the Bank of Ireland approved panel is to comply with the CML Handbook Part 2 obligations (last updated for this lender on Bank of Ireland)which states that a local authority search be not more than half a year old. You should nevertheless ask your lawyer to check whether something called ‘search validation’ indemnity insurance is acceptable to Bank of Ireland.
Your search tool is useful but there are many lawyers listed near Coventry on the Bank of Ireland conveyancing panel. Can you recommend a specific firm on the conveyancing panel for Bank of Ireland ?
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..
We're in Wales, First time buyers purchasing with a mortgage (lender is Bank of Ireland , but our lawyer is on the Bank of Ireland conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Bank of Ireland conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a time-frame for your conveyancing due to third parties outside of our control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain
When it comes to mortgage companies such as Bank of Ireland do lawyers have to be pay a fee to be on the list of approved solicitors?
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 have today made my last payment due on mortgage with Bank of Ireland. I assume I don't need a solicitor on the Bank of Ireland panel to remove the mortgage at the Land Registry. Please confirm
If you have finished paying off your Bank of Ireland mortgage they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Bank of Ireland mortgage from the register. Bank of Ireland,and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
but are not moving to another property
where the Bank of Ireland has sent the Land Registry the discharge electronically, and
the Bank of Ireland has instructed the Land Registry to do so
The Land Registry will send you a letter confirming that your Bank of Ireland mortgage has been paid off.
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?
Or
I've read lots of mortgage guides,I note that it is considered advisable to 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.
or
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.