Bank of Ireland Solicitor Panel Sample Enquires to our Call Center from members of the public
My fiance and I are purchasing a 2 bedroom apartment in Hackney with a mortgage from Bank of Ireland. We have a lawyer but Bank of Ireland says he's not on their "panel". We have to appoint one of the Bank of Ireland panel solicitors 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
Can you help?. My lawyer is not to blame but, my purchase conveyancing 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 6. My solicitor has advised that as she is on the Bank of Ireland conveyancing panel she needs to reorder the searches as they are no longer valid.
One of the many conditions 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.
Are the lawyers identified as being on the Bank of Ireland conveyancing panel, together with their details provided by Bank of Ireland?
The law firm practices themselves provide us confirmation that they are on the Bank of Ireland conveyancing panel as opposed to being supplied with a list from Bank of Ireland directly.
I am purchasing a terraced house 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.
Can I be sure that the solicitor on the Bank of Ireland panel is any good?
Getting 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 suggest that you speak with the solicitor carrying out your transaction
What are the common reasons for a lender such as Bank of Ireland to withdraw a mortgage offer?
Lenders such as Bank of Ireland can withdraw their mortgage offer although this is unusual. If Bank of Ireland withdraw their offer they may or may not inform you or the lawyer as to their reasoning. There are many potential reasons but here are a few examples:
- Bank of Ireland may amend or withdraw an offer if the Bank of Ireland conveyancing panel solicitor is unable to confirm compliance with any of the conditions of the mortgage offer or if any of the terms of the mortgage offer cannot be satisfied
- Many mortgage offers have an expiry date. Your lawyer should check this. Bank of Ireland may amend or withdraw an offer before the end of its validation period if an offer extension is requested and following a re-evaluation of the property the value of the security is below a level which is acceptable to them.
- If the financial circumstances of the borrower have changed to the detriment and the Bank of Ireland has been notified
- Where the lender has to take account a recent change in taxation
- Where the lender is on notice of a restriction or a right of pre-emption which is not at market value
Sometime soon me and my wife are buying a penthouse in Hendon. Conveyancing solicitors in Hendon need to beretained. My friendrecommended that we check that the conveyancer in Hendon is on the Bank of Ireland approved list of lawyers. Is this right?
It is not that case that all Hendon conveyancing practices are on the Bank of Ireland conveyancing panel. 7 people a month use our search tool to locate a Hendon conveyancing firm on the on the Bank of Ireland panel.
