Bank of Ireland Solicitor Panel Recently Asked Questions from members of the public
My fiance and I are buying a 2 bedroom flat in Newcastle with a mortgage from Bank of Ireland. We like our solicitor but Bank of Ireland says she’s not on their "panel". It seems we have little choice but to instruct one of the Bank of Ireland panel firms or keep our solicitor and pay for one of their panel ones to represent them. We feel as though this is unjust; is there anything we can do?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the Bank of Ireland conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for Bank of Ireland
We are only a couple days away from an exchange and my mum and dad having sent the 10% deposit to my lawyer. I am now advised that as the deposit has not come from me my lawyer needs to disclose this to my lender Bank of Ireland. Apparently, being on the Bank of Ireland conveyancing panel and acting on their behalf he must inform Bank of Ireland if the balance of the mortgage advance is coming from anyone other than me. I disclosed to the bank about my parent’s contribution when I applied for the home loan so is it really necessary for this now to be an issue?
Your lawyer is obliged to check with Bank of Ireland to make sure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only report this to Bank of Ireland if you agree, failing which, your lawyer must cease to continue acting.
I have been Googling for online conveyancing estimates. Can I be sure that all the law firms that are identified on your website are on the Bank of Ireland conveyancing panel?
The law firms on our directory have assured us via an online form that they are on the Bank of Ireland panel and agreed to advise us to take down their listing in the event of removal off of the Bank of Ireland panel. To date we have not been informed by either a lender or a member of the public that the data about a specific firm being on the Bank of Ireland conveyancing panel is not accurate.
I am buying a garden flat and getting a mortgage with Bank of Ireland. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing you will have to appoint a solicitor on the Bank of Ireland conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to made in you doing to conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on the Bank of Ireland conveyancing panel in your location.
My existing mortgage is with Bank of Ireland. My uncle retired last week and wants to pay off my mortgage. After Bank of Ireland is paid, I want to transfer the property to my mother's name; How long does the process take? Do we need two separate solicitors on the Bank of Ireland conveyancing panel? I do not intend to live at the property once the Bank of Ireland mortgage is discharged.
You
will need a solicitor but they need not be on the Bank of Ireland conveyancing panel.
You will need a solicitor to draw up the transfer and
to deal with the Land Registry formalities. The only thing you need to
consider is that by selling at an undervalue so ask your lawyer about
the implications. There could be an inheritance tax issue if you die
within 7 years of this. As the property is your main residence you need
not pay CGT but you should speak with your accountants in any event.
After much negotiation I have agreed a price on a house. My financial adviser suggested a solicitor I paid an upfront payment of 200. Soon after the conveyancers contacted me to say that they were not on the Bank of Ireland conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Bank of Ireland panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
My ex -wife’s name is on the Bank of Ireland mortgage of my property but not on the land registry. The apartment was transferred to me on our divorce many years ago by way of a sealed court order. Does my ex still have a say on the sale even though the land registry showing the property in my name alone? Will I be required to take her name of the Bank of Ireland mortgage in order to sell?
As regards the Bank of Ireland mortgage, it is unusual that your ex-wife’s name remains on the mortgage but not on the title. It is conceivable that this is an oversight on the part of your conveyancers to ensure that her name was removed or even an administrative error on the part of Bank of Ireland in failing to update their data. In any event, it should cause difficulty providing her name no longer appears on the Land Registry title and you have a court order ordering that the property is transferred to you.