Bank of Ireland Mortgages Conveyancing Panel Information

We only know of a couple of banks that operate a distinct conveyancing panel where the mortgage advance is over a certain level. You should nevertheless check directly with Bank of Ireland Mortgages. At one stage HSBC would only allow Sole practitioners to act for them where the mortgage was below £150,000. We are not sure if HSBC still operate such a condition. In your case it is best to check with Bank of Ireland Mortgages

In the same way that there is a unique Bank of Ireland Mortgages conveyancing panel most building societies, operate a conveyancing panel for solicitors and other conveyancers that the lender will instruct. Terms and Conditions and criteria for inclusion on a building society conveyancing panel vary from lender-to-lender. Having CQS accreditation may be a requirement. Institutional lenders, such as a building society, is a client and is entitled to instruct the solicitor or conveyancer of its choosing (who, in turn, is free to accept or refuse instructions). Therefore, if lender and borrower cannot agree which solicitor or conveyancer should represent them jointly, they would usually proceed on a separate representation basis. The BSA have not published the equivalent of the UK Finance Lenders’ Handbook Part 3s.

Given that your practice in is on the Bank of Ireland Mortgages conveyancing panel and you are instructed by them in relation to a leasehold property, you must report to them if it becomes apparent that the landlord is either absent or insolvent. If Bank of Ireland Mortgages are to lend, they may require indemnity insurance. In any event,you will need to check Bank of Ireland Mortgages’s specific requirements. Notwithstanding whether Bank of Ireland Mortgages will lend in such circumstances you still need to advise the borrower (unless you are acting for Bank of Ireland Mortgages alone) as to the risks of buying a property with an insolvent or absentee landlord.

Your insurance brokers are your best port of call to address this question. The chances are that on the basis that you have not been removed for fraud or negligence reasons that there will be little or no impact. The main reason why a firm would be removed off of a lender panel is due to low volume of conveyancing cases although there may be a number of criteria for Bank of Ireland Mortgages solicitor panel membership. Please remember that it is always important that you complete your insurance forms accurately.

You need to contact Bank of Ireland Mortgages to obtain standard documents. The The Council of Mortgage Lenders Handbook includes an explicit question for lenders to establish who to contact to obtain standard documents. Bank of Ireland Mortgages in their Part 2’s state: Please remember to disclose your Bank of Ireland Mortgages solicitors panel reference.