FAQs : The Bank of Cyprus UK Conveyancing Panel
from members of the public
A solicitor I had intended to instruct on a purchase said she would charge more if my mortgage is with Bank of Cyprus UK because of their difficult processes! Am I likely to be frustrated using Bank of Cyprus UK? Is Bank of Cyprus UK conveyancing so much more difficult?
Bank of Cyprus UK conveyancing requirements for their panel are no better or no more complicated than most lenders.
It is the case now the CML Handbook, the "bible" used by solicitors to establish lender requirements, is different for each lender.
It is not clear if your lawyer is on the Bank of Cyprus UK conveyancing panel. If they are not, this does add further risk of delay as Bank of Cyprus UK will appoint their own solicitors to look after their interest.
My property lawyer has informed me that he requires ID documents stating that this is part of his legal duty as a solicitor on the Bank of Cyprus UK Conveyancing panel. Is this right?
Due to Money Laundering Regulations your conveyancing lawyer is duty bound to confirm positively your identification when entering into a business relationship with you. It is a criminal offense if your lawyer not do this. If you do not provide ID early in the transaction the solicitor must refuse to act for you. It’s unlikely a lawyer will turn you away if you come to the first meeting without relevant ID but you will have to produce it at some point so you might as well bring it with you to the initial meeting so the lawyer can tick the ID verification box and start sorting out the conveyancing straight away. If you are getting a mortgage with Bank of Cyprus UK your lawyer also has to check ID documents to satisfy Bank of Cyprus UK
Do banks and building societies provide you with an approved list of solicitors? How do you know who is on the Bank of Cyprus UK conveyancing panel?
The law firm practices themselves provide us confirmation that they are on the Bank of Cyprus UK conveyancing panel as opposed to being supplied with a list from Bank of Cyprus UK directly.
We're in Liverpool, FTBs buying with a mortgage (lender is Bank of Cyprus UK , but our solicitor is on the Bank of Cyprus UK conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Bank of Cyprus UK 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
We expect to receive a DIP from Bank of Cyprus UK this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc).Do the Bank of Cyprus UK recommend a solicitor on the Bank of Cyprus UK conveyancing panel, or is it better to go independently
You will need to appoint solicitors independently although you'll need to choose one on the Bank of Cyprus UK conveyancing panel. The solicitor represents both you and the Bank of Cyprus UK through the process.
Can I register a complaint to Bank of Cyprus UK about the lawyers being on the Bank of Cyprus UK conveyancing panel?
There is little point in complaining directly to Bank of Cyprus UK. Every solicitor firm and conveyancer must have a complaints procedure. You can get information from the solicitor’s or conveyancer’s website or ask at their office. They must tell you about it if you ask.
The Legal Ombudsman will make sure that your complaint is properly dealt with by the solicitor. It can also advise you how to complain.
If a licensed conveyancer does not have a complaints procedure or will not tell you about it, contact the Council for Licensed Conveyancers (CLC), which will make sure that your complaint is properly dealt with by the conveyancer. Please see below for more information.
I recently had an offer accepted on a house. My mortgage broker suggested a solicitor I paid an upfront payment of 175. Soon after the conveyancers contacted me to say that they were not on the Bank of Cyprus UK 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 Cyprus UK 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.