Common questions asked concerning the Landbay Partners Solicitor Panel from members of the public
I am obtaining a mortgage offer from Landbay Partners. I intend to retain the legal services of a Licensed Conveyancer. Does the Landbay Partners Conveyancing panel exclude Licensed Conveyancers
Landbay Partners’s approved solicitor list is, like many other lenders represented by the CML or BSA, open to Licensed Conveyancers regulated by the CLC.
We are due to exchange on the purchase a house but as a result of damage from the recent storms I have agreed compensation from the seller of £3k approx by way of a reduction in the price. This was going to be dealt with as part of the conveyancing process but my mortgage company Landbay Partners will not agree to this. Why was Landbay Partners even consulted?
Your lawyer being on the Landbay Partners conveyancing panel is duty bound to inform Landbay Partners of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to Landbay Partners then they would have to discontinue acting for you and Landbay Partners.
Your search tool is useful but there are many lawyers listed near Chelsea on the Landbay Partners conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the conveyancing panel for Landbay Partners ?
We are not in the business of recommending one firm above another as the right firm for you depends on where your priorities lie. For example you may require a local firm with local knowledge or you might be looking for the low cost conveyancing. We recommend that you speak to 3 or 4 lawyers listed before you make your choice..
The firm that I appointed last week on my purchase in London has suddenly shut down. I only went with them because I had to have a solicitor on the Landbay Partners conveyancing panel and my previous lawyer was not. I paid them £200 on account. What do I do now?
Assuming that you have an Estate Agent in the equation then let them know immediately so that they can let the sellers know that there may be a slight delay due to the problems encountered. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Landbay Partners conveyancing panel and notify the lender. If you have paid over any money it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to assist
What are the common reasons for a lender such as Landbay Partners to withdraw a mortgage offer?
Lenders such as Landbay Partners can withdraw their mortgage offer although this is unusual. should Landbay Partners withdraw their offer they may or may not inform you or the lawyer as to their reasoning. There are various possible reasons but here are a few examples:
- If the financial circumstances of the borrower have changed to the detriment and the Landbay Partners has been notified
- If the borrower informs Landbay Partners of a change in the loan amount agreed
- Situations where information provided by the borrower that enabled the lender to make a lending decision is fraudulent, incorrect or misleading.
- Where the purchase price and borrowers direct contribution differ to details on the mortgage application form completed by the borrower
- If the lender reasonably believe that the applicant, borrower, mortgagor or guarantor is insolvent or is about to become insolvent or has or will have a petition presented or if any one or all enter into any arrangement with their creditors generally or if any one or all should suffer a material change in their financial circumstances
My brother and I have agreed a price on a house I spoke to a conveyancer previously used by my brother and he suggested instructing a property lawyers approved by Landbay Partners. The estate agent recommended two local firms so I asked Landbay Partners if the 2 suggested solicitors are approved, which they are not. Landbay Partners pointed out that either practice can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of Landbay Partners 's conveyancing panel solicitors (2) Use the local solicitor and accept there may be delays etc as they go through the approval process.
Ask Landbay Partners for conveyancing panel firms in your area. Lenders have them all over the country. You can also use our search tool at the top of this page to search for a lawyer on the Landbay Partners conveyancing panel based on location. If you particularly like the sound of one of the local lawyers that you have spoken to ask them if they would go onto Landbay Partners conveyancing panel as it may only take about 2-3 weeks. As long as they meet Landbay Partners’s requirements it can be a very simple job for the solicitor. Other stuff will be going on in parallel (as you are at an early stage) so it may not delay matters.
My ex -wife’s name is on the Landbay Partners mortgage of my property but not on the land registry. The apartment was transferred to me on our divorce many years ago by way of a sealed court order. Does my ex still have a say on the sale even though the land registry showing the property in my name alone? Will I be required to take her name of the Landbay Partners mortgage in order to sell?
As regards the Landbay Partners mortgage, it is unusual that your ex-wife’s name remains on the mortgage but not on the title. It is conceivable that this is an oversight on the part of your conveyancers to ensure that her name was removed or even an administrative error on the part of Landbay Partners in failing to update their data. In any event, it should cause difficulty providing her name no longer appears on the Land Registry title and you have a court order ordering that the property is transferred to you.