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Allied Irish Bank Conveyancing Panel: Recently Asked Questions
Will the fact that my firm has signed up to LENDERmonitor Alerts assist in my application to join the Allied Irish Bank conveyancing panel?
The requirements to join the Allied Irish Bank conveyancing panel is likely to be fairly detailed and is unlikely to include signing up to LENDERmonitor alerts.
Given my firm’s membership on the Allied Irish Bank conveyancing panel how long am I expected to keep hold of the original conveyancing file?
The Council of Mortgage Lender requirements of
Allied Irish Bank are silent on this. Most mortgage companies deal with the issue of file retention via their Terms and Conditions where they generally provide that for evidential purposes, the firm must keep the file for at least of 6 years from the date of the mortgage. Data imagining is normally
suitable compliance with this requirement. Many lenders point out in
that it is the practice of some fraudsters to demand the conveyancing
file on completion in order to destroy evidence that may later be
used against them. It is therefore important to retain these
documents to protect Allied Irish Bank’s interest. To be
absolutely sure of Allied Irish Bank requirements in this regard
please check the Terms and Conditions of Allied Irish Bank’s
conveyancing panel membership.
Do lenders such as
Allied Irish Bank run an independent conveyancing panel for buy to let mortgages?
Most lenders do not operate a specific buy to let conveyancing panel but we are hearing about a few that do. We do not know what the position is with
Allied Irish Bank as at todays date. If you're about to receive instructions from a client on a buy to let purchase with a mortgage from
Allied Irish Bank we suggest that you call
Allied Irish Bank to check the position.
Who do building societies allow to be on their Conveyancing Panels?
In the same way that there is a unique Allied Irish Bank
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.
Are there any specific Allied Irish Bank conveyancing panel obligations relating to Transfer of Equity Conveyancing?
Allied Irish Bank approved solicitors have to comply with the Part II instructions relating to Transfer of Equity. These are set out in Section 16.3. First, your firm must approve the form of Transfer of Equity (which should be in the Land Registry's standard form) and, if
Allied Irish Bank require, the deed of covenant on their behalf. You will need to check
Allied Irish Bank CML Part 2 conditions to see if
Allied Irish Bank have standard forms of transfer and deed of covenant. Please note that this requirement can change from one transaction to another so do check! Second,When drafting or approving a transfer, you should bear in mind that: although the transfer should state that it is subject to the mortgage (identified by date and parties), it need give no details of the terms of the mortgage; the transfer need not state the amount of the mortgage debt. If it does, the figure should include both principal and interest at the date of completion, which you must check ; there should be no statement that all interest has been paid to date. Further obligations are set out in the UK Finance Lenders’ Handbook which have to be followed by all firms on the
Allied Irish Bank conveyancing panel
Prime Professional’s PII renewal form asks if my firm had been removed off any bank panels in the last 12 months.
I recently became aware that the practice is no longer on the
Allied Irish Bank solicitor panel? Will that impact my PII premium?
The best placed professionals to answer this question are your insurance brokers.
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 Allied Irish Bank solicitor panel
membership. Please remember that it is always important that you
complete your insurance forms accurately.
My firm is listed on the
Allied Irish Bank
conveyancing panel and due to complete a remortgage within the next few weeks. I dont have a Mortgage Deed for the client to execute.
Who do I contact at Allied Irish Bank to obtain duplicate documents?
You should contact Allied Irish Bank
to obtain standard documents. The CML Handbook has an express question for lenders to reveal who to contact to obtain standard documents.
Allied Irish Bank in their Part 2’s state:
You will need to quote the firm’s Allied Irish Bank conveyancing panel reference.
Find a Lawyer on the Allied Irish Bank Conveyancing Panel
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Average number of days to register title including a charge in favour of Allied Irish Bank
This information relates to purchase only and not remortgages.
Year | Days* |
---|---|
2024 | [no data] |
2023 | [no data] |
2022 | [no data] |
2021 | [no data] |
2020 | [no data] |
2019 | [no data] |
* Data aggregated from sources including COMPLETIONmonitor
Other related topics:
- CQS policy templates and procedures for accredited Allied Irish Bank Firms
- Draft Report on Title precedent for Allied Irish Bank borrowers
- Draft Anti Money Laundering PolicyTemplate for Allied Irish Bank panel firms to consider
- Dealing with Lender Policy Template panel for CQS accredited firms on the Allied Irish Bank lender panel
- Buy-to-Let help for Allied Irish Bank
- Consent-to-Let help for Allied Irish Bank
- Contractor Mortgages with Allied Irish Bank