Landbay Solicitor Panel Example Support Desk Enquires from members of the public
Am I correct in assuming that the fact that my conveyancer is not isted on the Landbay Conveyancing panel that there is a problem with the quality of the firm’s conveyancing?
That would more than likely be a wrong assumption to make. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The top 3 reasons are as follows: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should simply call the firm and ask them why they are no longer on the approved list for Landbay.
Our solicitor is asking me for proof of ID documents stating that this forms part of his legal duty as a solicitor on the Landbay Conveyancing panel. This is news to me - can I refuse?
Anti-terror and anti-money-laundering rules require solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with before they can accept their conveyancing business. The Terms and Conditions that you need to sign will no doubt confirm this. Your lawyer is right that Landbay also require certain documents to be viewed. If a you refuse to provide ID verification documents, your conveyancer would not be able to accept instructions from you. Your lawyer also has obligations to obtain certain documents in accordance with Landbay CML Handbook requirements last updated on Landbay
Do all the firms listed on your search have online case tracking as I understood that this was a condition of being on the Landbay solicitor panel?
The Council of Mortgage Lenders or BSA do not require online case tracking. Some law firms operate such technology and some don't.
I am buying a semi-detached house and getting a mortgage with Landbay. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing you will have to appoint a solicitor on the Landbay conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to made in you doing to conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on the Landbay conveyancing panel in your location.
Do conveyancing solicitors on the Landbay conveyancing panel work on a no sale no fee basis?
On the whole there are no requirements by lenders for their firms to operate on a no-sale-no-fee basis. There a small number of lenders who operate a very restricted conveyancing panel managed by a third party company (often termed in the industry as a ‘gatekeeper’). That third party may impose certain conditions such as non-sale-no fee on the panel firms. If you require this as a condition of your conveyancing then you should check with the conveyancing firm that this is part of their package
Do the majority of banks operate their own panel of solicitors?
Many lenders do operate a restricted conveyancing panel but a lot of lenders allow any solicitors to join their panel so long as they meet their criteria. Each lender sets their own criteria. For example the Landbay conveyancing panel requirements are different to Landbay’s conveyancing panel requirements.
We were going to get a DIP from Landbay this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc).Do the Landbay recommend a solicitor on the Landbay conveyancing panel, or is it better to go independently
You will need to appoint solicitors independently although you'll need to choose one on the Landbay conveyancing panel. The solicitor represents both you and the Landbay through the process.
