Bank of Ireland Conveyancing Panel Information

The CML, along with Bank of Ireland and other stakeholders developed a standard set of instructions where a solicitor is acting for a lender such as Bank of Ireland alone in a residential conveyancing matter. These obligations are contained at Part III of the UK Finance Lenders’ Handbook and are to be followed together with Part I and II. The CML have published an example requirements letter to the borrower’s conveyancer for adaptation by the lender's conveyancer, and sets out to the borrower's conveyancer, the documentary and information requirements of the lender's panel conveyancer.

Many estate agents are feeling the pain if their clients start out on the conveyancing process having appointed a conveyancer who is not on the panel with the purchaser’s chosen lender. Many conveyancing firms are only discovering when they begin working on a case that they are no longer able to work with that lender. Given the inevitable resultant delays in the transaction the chances of an abortive deal increases dramatically. in the circumstances there is understandable anguish on the part of the estate agent as a result of the lost time should the client have to change lawyers.

One might ordinarily expect Bank of Ireland via their Part 2 conditions to address this but the Handbook is silent on deadlines to send deeds. Do look at the Terms of Bank of Ireland’s Conveyancing Panel Appointment that you previously signed. For a number of banks these Terms have a clause such as: ‘To keep us informed of the reasons for any delay in your being able to send the title deeds and documents we require to us within 3 months of completion or evidence of proof of registration within that period. (We will send reminders if the deeds have not been received but will not acknowledge receipt of deeds’ It is imperative to keep Bank of Ireland informed. Law firms can often compound their problems by not communicating with the lender when there is a delay or problem.

There are many reports available, five of which are as follows:

• The percentage of the firm’s business which is conveyancing (broken down into sale/purchase and remortgage)
• Buy to Let transactions
• Average time frame to register charges at the Land Registry
• Evidence of undertaking logs
• Disclosure/Notification to Lender analysis indicating frequency and nature of disclosures - to include benchmarking analysis against aggregate data

In the circumstances please clarify on the application what action you have taken to find out the reasons behind cancellation of your Bank of Ireland panel status. In particular please provide details if you have received communications from the lender. E.G. before termination of your panel membership did you receive any letters or calls from the lender informing you as to why they reached this decision?

You need to contact Bank of Ireland to obtain standard documents. The CML Handbook includes an express question for banks to enumerate who to contact to obtain standard documents. Bank of Ireland in their Part 2’s state: Please remember to quote your Bank of Ireland solicitors panel number.