FAQs : The Landbay Partners Solicitor Panel from members of the public
My husband and I are buying a 2 bedroom flat in Hackney with a mortgage from Landbay Partners. We like our solicitor but Landbay Partners says she’s not on their "panel". We have to appoint one of the Landbay Partners panel firms or keep our solicitor and pay for one of their panel ones to represent them. This seems very unfair; Can we not simply insist that Landbay Partners use our lawyer?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the Landbay Partners conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your lawyer to apply to be on the conveyancing panel for Landbay Partners
Please help. My solicitor is informing me me that he is legally obliged to order a Local Authority search as the firm are on the Landbay Partners conveyancing panel. Is my lawyer correct?
Unfortunately both you and your lawyer have little choice here. Given that you are taking out a loan with Landbay Partners your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of Landbay Partners’s conveyancing panel appointment which obliges them to follow the CML Handbook requirements last updated Landbay Partners. even if you were a cash buyer you would be ill advised not to carry out a local authority search.
I need to find a Landbay Partners panel solicitor in Inverness. Can you assist?
Unfortunately it’s not apparent why you need a Landbay Partners panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to Landbay Partners to find out which solicitors in Landbay Partners are on their panel. If you do find such a firm not listed please direct them to our site to list. At a fee of one pound per month it is not expensive to register on the site
The lawyers that I appointed last week on my purchase in Brighton has without warning closed. I chose them because I had to have a solicitor on the Landbay Partners conveyancing panel and my family lawyer was not. I paid them £200 on account. What should be my next steps?
If you have an estate agent involved then inform them immediately so that they advise the vendors that there may be a slight delay due to the problems encountered. Most sellers would 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 solicitors may be able to assist
We are getting a further advance on our mortgage from Landbay Partners as we wish to carry out alterations or improvements our home. Do we need to appoint a solicitor on the Landbay Partners conveyancing panel to deal with the paperwork?
Landbay Partners do not ordinarily appoint a member of their approved list of lawyers to deal with such a matter. If they did require any legal work then you would need to ensure that such a lawyer was on the Landbay Partners list
My existing mortgage is with Landbay Partners. My father has just retired and wants to pay off the mortgage left on the property. After Landbay Partners is paid, I want to transfer the property to my mother's name; How long will it roughly take? Do we need two separate solicitors on the Landbay Partners conveyancing panel? I do not intend to live at the property once the Landbay Partners mortgage is discharged.
You
will need a solicitor but they need not be on the Landbay Partners conveyancing panel.
You will need a solicitor to draw up the transfer and
to deal with the Land Registry formalities. The only thing you need to
consider is that by selling at an undervalue so ask your lawyer about
the implications. There could be an inheritance tax issue if you die
within 7 years of this. There's no capital gains tax for you as it is
your main residence.
Intending to buy a flat with a mortgage with Landbay Partners. I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Landbay Partners conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that they are on the Landbay Partners conveyancing panel