KBC Bank Ireland plc (KBCI) has contacted the Conveyancing Committee requesting that it publishes a Guidance Note on the procedure for returning title deeds for those mortgage loans that recently transferred to the Bank of Ireland group (the ‘Transferee’).

KBCI has advised the Conveyancing Committee that as a result of the Transfer of certain mortgage loans dated 3 February 2023 made between KBCI and the Transferee (pursuant to Statutory Instrument No. 620 of 2022) KBCI is no longer the legal owner of the said mortgage loans.  KBCI has further advised the committee that all right, title and interest in the said loans, including the benefit of the related undertakings transferred to the Transferee on that date. KBCI has reported to the committee that it has engaged with all borrowers regarding the mortgage loans that transferred.

As a result of the Transfer, the undertaking solicitor’s obligations arising under or in connection with their Undertaking for said loans are now owed to the Transferee and the Transferee will therefore continue to rely on each such undertaking until such time as all obligations have been complied with in the ordinary course.

KBCI has advised that effective from 30 June 2023 they shall no longer be accepting the return of title deeds and related correspondence from undertaking solicitors in relation to these mortgages and those title deeds and related correspondence should therefore be sent directly to the Transferee. 

Members are advised by KBCI that the Bank of Ireland Security Operations team can be contacted by calling 01-6113333 or alternatively members can contact them by post (or DX) at Bank of Ireland Mortgages, Securities Operations, Phoenix Room, Operations Centre, Cabinteely, Dublin 18, DX 57.