Allied Irish Bank Conveyancing Panel Information

The Council of Mortgage Lender requirements of Allied Irish Bank are silent on this. Most mortgage companies address the question of file retention via their Terms and Conditions where they generally provide that for evidential purposes, the firm must keep the file for a minimum six 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 acceptance.

During 2013, 1 sections of the UK Finance Lenders’ Handbook P2 were changed by Allied Irish Bank. Some changes are more important than others but as a firm on the Allied Irish Bank conveyancing panel you are of course obliged to comply with individual lender requirements, as set out in Part II of the UK Finance Lenders’ Handbook. Locktons have recently pointed out in an article that non-compliance with Part 2 requirements account for a number of high value claims, and it is therefore important to be aware of any particularly onerous terms that an individual lender may impose.

Remember: CML requirements are not guidelines; they are the lender client’s instructions.

For most lenders participation on the lender's panel of conveyancers is at the absolute discretion of the the lender. Many lenders reserve the right to accept or reject any application without giving any reason. You should check your original application to join the Allied Irish Bank conveyancing panel to see if you are entitled to a reason.

With banks and conveyancing firms working so closely together it is surprising that there has not been much call for the introduction of a bit of transparency regarding not just the figures for the Allied Irish Bank conveyancing panel but for all mortgage panel listings

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 Allied Irish Bank solicitor panel membership. Please remember that it is always important that you complete your insurance forms accurately.

You need to contact Allied Irish Bank to obtain standard documents. The The Council of Mortgage Lenders Handbook includes a specific inquiry for lenders to enumerate who to contact to obtain standard documents. Allied Irish Bank in their Part 2’s state: It is likely that you will need to disclose your Allied Irish Bank conveyancing panel number.