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approved by AIB
Ready to buy a new home? Failing to check that a lawyer is on the AIB list of approved solicitors can put your transaction at risk of delay or failure.
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How does my firm apply to be on the Allied Irish Bank (GB), a trading name of AIB Group (UK) Conveyancing Panel? How can my firm be reinstated onto the Allied Irish Bank (GB), a trading name of AIB Group (UK) Conveyancing Panel?Find an Approved Solicitor on the Allied Irish Bank (GB), a trading name of AIB Group (UK) Conveyancing Panel
FAQs for the Allied Irish Bank Solicitor Panel
Can you please explain the reason why all property lawyers aren't included on the Allied Irish Bank Conveyancing panel?
Before the recession most lenders had an appetite for risk which was higher than today. The Financial Services Authority in 2010 conducted a thematic review into mortgage fraud which concluded: know the conveyancing solicitors that you are dealing with. Consequently, lenders have regularly sought more information from law firms about their operations and the individuals who work for them and set certain criteria such a completing on a minimum number of transactions. Many firms that have been excluded from lender panels have 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Such firms were never going to meet the criteria of volume of transactions the lenders required.
We are approaching an exchange and my parents 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 make a notification to my lender Allied Irish Bank. I am advised that, being on the Allied Irish Bank conveyancing panel and acting on their behalf he must inform Allied Irish Bank if the balance of the mortgage advance is not just from me. I disclosed to the bank about my parent’s contribution when I applied for the home loan so is it really necessary for him to raise this?
Your lawyer is obliged to check with Allied Irish Bank 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 Allied Irish Bank if you agree, failing which, your lawyer must cease to continue acting.
Your search tool is useful but there are many lawyers listed near Chelsea on the Allied Irish Bank conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the Allied Irish Bank approved panel?
We are not in the business of recommending one firm above another 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..
I am considering applying for a Allied Irish Bank mortgage for purchase of a new build (under development) with 70% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Allied Irish Bank?
There is nothing to stop you using your solicitor but Allied Irish Bank will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
When it comes to lenders such as Allied Irish Bank do lawyers have to be pay a fee to be on the conveyancing panel?
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.
Can you point me to a directory of Allied Irish Bank panel solicitors on the CML Handbook Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few lenders make their panel listings available online.
Can I be sure that the solicitor on the Allied Irish Bank 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 suggest that you speak with the solicitor carrying out your conveyancing
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Transfer of Equity for Allied Irish BankPlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors