Find an Approved Solicitor on the Bank of Ireland (UK) plc
Conveyancing Panel
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My fiance and I are first time buyers. Within the last couple of days our property lawyer has forwarded the sale agreement to sign with a detailed report with the expectation that exchange is imminent. Bank of Ireland have this morning contacted us to inform me that they have now hit a problem as our conveyancer is not on their conveyancing panel. What do we do from here?
When purchasing a property with the benefit of a mortgage it is usual for the purchaser's solicitors to also act for the purchaser's lender.
In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme.
Your solicitors should contact Bank of Ireland and see if they can apply for membership of the Bank of Ireland conveyancing panel, but if that is not viable Bank of Ireland will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the Bank of Ireland conveyancing panel as you are at liberty to use your preferred lawyers, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
I am buying a new build apartment and my solicitor is telling me that she has to reveal incentives from the builder as her practice is on the Bank of Ireland conveyancing panel. The Estate Agents are hassling me to exchange and I would rather not prolong deal. is my lawyer taking the correct approach?
You should not exchange unless you have advised to do so by your lawyer. A precondition to being on the Bank of Ireland approved panel is to comply with the CML Handbook requirements (last updated for this lender on Bank of Ireland). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I am purchasing a house and require a conveyancing solicitor in Birmingham who is on the Bank of Ireland conveyancing. Can you recommend a local solicitor?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for Bank of Ireland . We don’t recommend any particular firm.
Please explain the implications if my lawyer’s firm is expelled from the Bank of Ireland Conveyancing panel in advance of completion?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have ti instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by the regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
Are all Conveyancing Quality Solicitors on the Bank of Ireland conveyancing panel?
A selection of lenders now use the accreditation scheme as the starting point for Panel approval such as HSBC and Santander. The Law Society’s CQS membership however gives no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of conveyancing solicitors.
Do most banks operate their own panel of solicitors?
Many lenders do operate a restricted conveyancing panel but a lot of lenders allow any solicitors to join their panel so long as they meet their criteria. Each lender sets their own criteria. For example the Bank of Ireland conveyancing panel requirements are different to Bank of Ireland’s conveyancing panel criteria.
I have today made my last payment due on mortgage with Bank of Ireland. I assume I don't need a solicitor on the Bank of Ireland panel to remove the mortgage at the Land Registry. Please confirm
If you have finished paying off your Bank of Ireland mortgage they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Bank of Ireland mortgage from the register. Bank of Ireland,and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
but are not moving to another property
where the Bank of Ireland has sent the Land Registry the discharge electronically, and
the Bank of Ireland has instructed the Land Registry to do so
The Land Registry will send you a letter confirming that your Bank of Ireland mortgage has been paid off.