Common questions asked concerning the Bank of Ireland Solicitor Panel
from members of the public
My Conveyancer has never been on on the Bank of Ireland Conveyancing Panel. Is it possible for me to use my preferred solicitor notwithstanding that they are excluded from the Bank of Ireland panel of approved conveyancing solicitors?
You will need to have a conveyancer complete the legal work required when you take out a Bank of Ireland mortgage to buy your property. They’ll carry out all the necessary legal checks on the property, make sure that you’re properly registered as the owner and ensure that all the necessary mortgage documentation is in place. You can instruct a conveyancing firm of your choice. However, if the firm selected is not a member of the Bank of Ireland conveyancing panel additional costs will be incurred as separate legal representation will be required by Bank of Ireland. Conveyancing panel applications can be submitted, so if your conveyancer has not previously applied for membership they can do so.
My wife and I intend to remortgage our penthouse with Bank of Ireland. We have a son approaching twenty who lives with us. The solicitor on the Bank of Ireland conveyancing panel requested us to identify any adults other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the flat is forfeited by the lender. I have a couple of questions (1) Is this document specific to the Bank of Ireland conveyancing panel as he did not need to sign this form when we remortgaged 5 years ago (2) Does our son by signing this giving up his rights to inherit the property?
First, rest assured that your Bank of Ireland conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Bank of Ireland .This is solely used to protect the Bank of Ireland if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave.
It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Bank of Ireland had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
I have checked your search tool I can't find the lawyer I was hoping to instruct as being on the Bank of Ireland conveyancing panel. My lawyer has said that they are on the Bank of Ireland approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the Bank of Ireland conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the Bank of Ireland solicitor panel.
I am purchasing a semi-detached house and getting a mortgage with Bank of Ireland. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
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.
Can I be sure that the solicitor on the Bank of Ireland panel is any good?
obtaining recommendations is a good starting point. 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 solicitor conducting your conveyancing
Hi, thinking about buying a house off my mate. Once we agree a price, what’s the best way to proceed? I hope to get a mortgage with Bank of Ireland. Is it possible to avoid using solicitors to save us both money? My father said that years ago it was possible to take the documents into the local Land Registry office and they did the rest
If you are getting a mortgage with Bank of Ireland involved you will need to appoint a solicitor on the Bank of Ireland conveyancing panel. We would not encourage you to both use the same solicitors' firm. There are clear conflict of interest issues and it's not going to make a huge difference to the speed of the overall process. So as not to hold things us you should pass on your solicitors details to Bank of Ireland. Feel free to use our search tool to look for a licensed conveyancer or solicitor 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.