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How does my firm apply to be on the Bank of Ireland as Bank of Ireland Mortgages Conveyancing Panel? How can my firm be reinstated onto the Bank of Ireland as Bank of Ireland Mortgages Conveyancing Panel?Find an Approved Solicitor on the Bank of Ireland as Bank of Ireland Mortgages Conveyancing Panel
Examples of recent questions relating to the Bank of Ireland Mortgages Solicitor Panel
I was advised recently by my mortgage adviser that my lawyer is not on the Bank of Ireland Mortgages Conveyancing panel. What can I do to check?
The first thing you need to do is to contact your lawyer directly. It is reasonable to expect your lawyer to advise you what has happened. If they are not on the panel they could put your in touch with solicitors on the conveyancing panel for Bank of Ireland Mortgages.
My wife and I are refinancing our maisonette with Bank of Ireland Mortgages. We have a son 19 who lives with us. The solicitor on the Bank of Ireland Mortgages conveyancing panel has asked us to disclose anyone over the age of 17 other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the apartment is forfeited by the lender. I have a couple of questions (1) Is this document specific to the Bank of Ireland Mortgages conveyancing panel as he never had to sign this form when we remortgaged 4 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
First, rest assured that your Bank of Ireland Mortgages 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 Mortgages .This is solely used to protect the Bank of Ireland Mortgages 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 Mortgages 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.
Do all the firms listed on your directory have online case tracking as I was under the impression that this was a precondition of being on the Bank of Ireland Mortgages conveyancing panel?
No. There is no CML Part 2 or Building Society Association requirement relating to online case tracking. Some law firms operate such technology and some don't.
My solicitors in London have advised me that they can not locate my conveyancing file. To assist with my purchase I took out a mortgage with Bank of Ireland Mortgages. Is it case that being on the Bank of Ireland Mortgages conveyancing panel they need to have retained the file for a prescribed period?
It very much depends from lender to lender but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the Bank of Ireland Mortgages Conveyancing Panel Terms. It might be worth you contacting Bank of Ireland Mortgages directly.
Is it the case that all conveyancing lawyers on the Bank of Ireland Mortgages conveyancing panel work on a no move no charge basis?
There is generally no requirements by lenders for their firms to operate on a no-sale-no-fee basis. There a small number of lenders who operate a very restricted conveyancing panel managed by a third party company (often termed in the industry as a ‘gatekeeper’). That third party may impose certain conditions such as non-sale-no fee on the panel firms. If you require this as a condition of your conveyancing then you should check with the conveyancing firm that this is part of their package
I am about to exchange contracts on a purchase with a mortgage from Bank of Ireland Mortgages. The report from my solicitor mentions that Bank of Ireland Mortgages could withdraw their offer before completion. Is this right?
Lenders such as Bank of Ireland Mortgages can revoke their mortgage offer although this is unusual. If Bank of Ireland Mortgages withdraw their offer they may or may not inform you or the lawyer as to the reasons why. There are various possible reasons but here are a few examples:
- Where information comes to Bank of Ireland Mortgages ‘s attention regarding the customers or the security that they were not aware of prior to offer that affects their original decision to lend
- Bank of Ireland Mortgages may amend or withdraw an offer if the Bank of Ireland Mortgages 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
- Amendments if purchase price adjusted and the loan to value limits exceeded by this. Please note that Bank of Ireland Mortgages conveyancing panel solicitors would be obliged to notify Bank of Ireland Mortgages of a change in the price of the property.
- If the lender reasonably suspects that the applicant, borrower, mortgagor or guarantor is involved in any criminal or fraudulent activity, including trading in illegal drugs or other substances, theft, robbery, deception or other serious offences, or if the applicant borrower, mortgagor or guarantor has a conviction for any serious criminal offence, including theft, deception, fraud, robbery or trade in illegal drugs or other substances;
- If the lender reasonably believe that the applicant, borrower, mortgagor or guarantor is insolvent or is about to become insolvent or has or will have a petition presented or if any one or all enter into any arrangement with their creditors generally or if any one or all should suffer a material change in their financial circumstances
We were going to get a DIP from Bank of Ireland Mortgages this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc).Do the Bank of Ireland Mortgages recommend a solicitor on the Bank of Ireland Mortgages 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 Ireland Mortgages conveyancing panel. The solicitor represents both you and the Bank of Ireland Mortgages through the process.