Examples of recent questions relating to the Landbay Partners Conveyancing Panel from members of the public
Can you please explain the reason why all property lawyers aren't included on the Landbay Partners Conveyancing panel?
Landbay Partners and other lenders ordinarily restrict either the type or the number of conveyancing practices on their panel. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that Landbay Partners have no responsibility for the quality of advice provided by any member of Landbay Partners Conveyancer Panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, Conveyancing is not their speciality? To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime; probably not.
I am due to complete my purchase next Friday. I have now been asked to send a copy of my building insurance schedule by my solicitor as as he informs me that he is duty bound to validate that it is in order for Landbay Partners. What does the insurance need to cover?
Any lawyer on the Landbay Partners conveyancing panel would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in Landbay Partners’s Part 2 requirements of the CML Handbook (last updated on Landbay Partners). Being on the Landbay Partners conveyancing panel your lawyer is expect to follow these requirements.
I am looking for online conveyancing estimates. Can I be confident that all the practices that are listed on your site are on the Landbay Partners conveyancing panel?
The law firms listed on our site have assured us via an online form that they are on the Landbay Partners panel and agreed to advise us to take down their listing in the event of removal off of the Landbay Partners panel. To date we have not been informed by either a bank or a member of the public that the data about a specific firm being on the Landbay Partners conveyancing panel is not accurate.
I am selling my house. Does my solicitor have to be on the Landbay Partners conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Landbay Partners conveyancing panel they can still act for you on your sale. it might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
We have had an offer accepted on a flat I spoke to a lawyer previously used by my dad and he suggested instructing a solicitor 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.
Enquire of 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.
Completion of my purchase has taken place with a loan from Landbay Partners. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about Landbay Partners. How does one go about formally complaining?
Most banks and building societies have complaints procedures. Your first point of contact should be one of the Landbay Partners branches or the Customer Care Team at Landbay Partners head office. We understand that complaints to Landbay Partners are sorted out very quickly. However if you are not satisfied that the matter is resolved you can write to the
Financial Ombudsman Service at South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
It is not clear whether my mortgage offer requires a lease extension . I have telephoned Landbay Partners on numerous occasions and told it wasn't a problem and they would lend. My solicitor - who is on the Landbay Partners conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. I simply dont know who is right
Your lawyer has to follow the CML Handbook Part 2 requirements for Landbay Partners. Unless your lawyer obtains specific confirmation in writing that Landbay Partners will go ahead your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask Landbay Partners to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.