Landbay Conveyancing Lender Panel Compliance Tool

Lexsure’s COMPLETIONmonitor is web-based pre- and post-completion checklist for residential conveyancing lawyers. Supported by the CML and PI insurers. COMPLETIONmonitor is a unique risk mitigation tool.

This software is the only way you can demonstrate to lender panels that you are, and can remain fully compliant with their instructions, with notifications given on Landbay’s changes. Even though utilising the software is not a prerequisite for Landbay , demonstrating you can remain up to date with Landbay’s Handbook requirements is an excellent support to your application to their lender panel and, more importantly, protect your firm’s panel standing.

COMPLETIONmonitor creates real-time alerts, automatically produces compliance and CQS reports, and will increase your firm's efficiency. It is also user friendly, cost-effective and, for some firms, results in reduced PII premiums.

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Banks and building societies often vary their requirements. The UK Finance Lenders’ Handbook requirements from Landbay are not guidelines, they are instructions from a client. As with many clients, instructions can change - and they do change, frequently:

A Timeline of Policy Changes

Since 2008, Landbay has made 66 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 41.4 days. In total, 26% of the sections of P2 of the UK Finance Lenders’ Handbook for Landbay have been changed since 15/12/2008.

To find out more about lender panel compliance,

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Recent Changes Include

# Date Assoc. Changes Related To
6.7.1 04/01/2019 CML
10.10 31/08/2018 CML
10.7 31/08/2018 CML
1.11a 31/08/2018 CML
3.2.4 31/08/2018 CML
4.1 31/08/2018 CML
4.3 31/08/2018 CML
5.14.15b 31/08/2018 CML Absentee Landlord Indemnity Insurance
6.4.4 31/08/2018 CML
5.2.1 31/08/2018 CML

Last update 26/05/2019

Landbay Conveyancing Panel Example Support Desk Enquires from members of the public

I would like to know the reason why all solicitors are not on the Landbay Solicitor panel?
Lenders point to the fact that solicitor-led fraud is thought to be responsible for millions of pounds of fraud every year. The removal of law firms off of lender panels started with the rise in mortgage fraud, which prompted a thematic review by the Financial Services Authority in 2011. Its outcome included recommendations for lenders to review their conveyancing panels, which kicked off a major policy change in the sector. It led to banks and building societies purging less reputable firms off their books
I am due to move into my new home next Thursday. My conveyancing lawyer has asked me to provide him with a copy of the building insurance for the house as he says that he has to check this in has capacity as lawyer for Landbay. What risks do Landbay expect the insurance to cover?
Any lawyer on the Landbay 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’s Part 2 requirements of the CML Handbook (last updated on Landbay). Being on the Landbay conveyancing panel your lawyer is expect to follow these instructions.
I am looking for competitive conveyancing fees. Can I be assured that all the firms that are identified on your website are on the Landbay conveyancing panel?
The law firms listed on our site have assured us via an online form that they are on the Landbay panel and agreed to advise us to take down their listing in the event of removal off of the Landbay panel. To date we have not been informed by either a lender or a member of the public that the data about a specific firm being on the Landbay conveyancing panel is not accurate.
My grandfather passed away 10 months ago and as sole heir and executor was left the property. The house had a relatively small loan remaining of approximately £5k. I want to have the title changed into my name whilst I re-mortgage to Landbay , pay off the mortgage etc. Is this possible?
If you intend to re-mortgage then Landbay will insist on your using a conveyancer on the Landbay conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Landbay conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Landbay mortgage is registered as a charge at the Land Registry.
How can we tell if a solicitor on the Landbay panel is any good?
Getting recommendations is a good starting point. Before you go ahead check if they offer a no sale no fee offer. Also you often get what you pay for - a firm which quotes more will often provide a better service than one which is cheap as chips. We would always advise that you speak with the solicitor carrying out your transaction
We have agreed to purchase a house.One unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Landbay be concerned
Given that you are obtaining a mortgage with Landbay your lawyer must to check the Landbay conveyancing instructions contained in the Part of CML Handbook for Landbay . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to Landbay where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. The CML are developing guidance for Northern Ireland and Scotland.
I have decided to exercise my right to buy my property off the council. I have a mortgage agreed with Landbay. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event if you are getting a mortgage with Landbay you will need to appoint a solicitor on the Landbay conveyancing panel.