FAQs : The Landbay Solicitor Panel
from members of the public
I need to swap lawyers as my lawyer is not on the Landbay panel of conveyancing solicitors. Is it practical to instruct different lawyers?
If you haven't yet instructed a solicitor to do anything for you and have just received quotes, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer you're considering.
My solicitor has uncovered a discrepancy when comparing the surveyor’s assumptions in Landbay’s valuation report and what is in the conveyancing documents. My lawyer has advised that as he is on the Landbay conveyancing panel he needs to check that the lender is happy with this discrepancy and is content go ahead. Is my conveyancer’s stance right?
A precondition to being on the Landbay approved panel is to comply with the CML Handbook requirements (last updated for this lender on Landbay) which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
Do I have to pop into the offices of the Landbay conveyancing panel solicitor to execute the mortgage deed? If so, I will appoint a lawyer who conducts conveyancing in London
so that I can attend their offices if necessary.
Most conveyancing panel lawyers for Landbay undertake all of the work via the post, internet or over the phone. This means that they can undertake your Conveyancing Transaction no matter where you live in England or Wales. However you should check if you can still book an appointment to go into appointed conveyancing lawyer if you prefer.
I am considering applying for a Landbay mortgage for purchase of a newly converted (under development) with 60% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Landbay?
In theory, you could use a solicitor that is not on Landbay conveyancing panel, but Landbay would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
Are all Conveyancing Quality Solicitors on the Landbay conveyancing panel?
A selection of lenders now use CQS as the starting point for Panel approval such as HSBC and Santander. CQS membership however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of conveyancing solicitors.
Are all conveyancing solicitors on the Landbay conveyancing panel overseen by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Landbay conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
I have today made my last payment due on mortgage with Landbay. I assume I don't need a solicitor on the Landbay panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Landbay mortgage they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Landbay mortgage from the register. Landbay,and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
but are not moving to another property
where the Landbay has sent the Land Registry the discharge electronically, and
the Landbay has instructed the Land Registry to do so
The Land Registry will send you a letter confirming that your Landbay mortgage has been paid off.