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FAQs for the Landbay Partners Conveyancing Panel
I am getting a mortgage with Landbay Partners. I intend to employ the services of a Licensed Conveyancer. Does the Landbay Partners Conveyancing panel allow for Licensed Conveyancers
Landbay Partners’s approved solicitor list is, like many other lenders represented by the Council or Mortgage Lenders or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
My fiance and I intend to remortgage our apartment with Landbay Partners. We have a son 19 who lives with us. The solicitor on the Landbay Partners conveyancing panel requested us to identify anyone over the age of 17 other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the property is repossessed. I have two questions (1) Is this document specific to the Landbay Partners conveyancing panel as he never had to sign this form when we remortgaged 4 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
First, rest assured that your Landbay Partners conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Landbay Partners .This is solely used to protect the Landbay Partners if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave.
It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Landbay Partners had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
Are there any apps to help find a local solicitor on the Landbay Partners conveyancing panel? I have a car and am prepared to travel up to 10 miles to meet the conveyancer.
Feel free to make use of the find a conveyancing panel tool on this website. Please choose the lender and your location and you will see a number of lawyer located nearest you. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the Landbay Partners solicitor panel.
My solicitors in London have advised me that they can not locate my conveyancing file. At the time of my purchase I took out a mortgage with Landbay Partners. Is it case that being on the Landbay Partners conveyancing panel they need to have retained the file for a number of years?
Different lenders have different requirements but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the Landbay Partners Conveyancing Panel Terms. It might be worth you contacting Landbay Partners directly.
I am buying a property where the roof has a solar panel. Landbay Partners have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is Landbay Partners your lawyer must to check the Landbay Partners conveyancing instructions contained in the Part of CML Handbook for Landbay Partners . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to Landbay Partners 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 currently have a mortgage with with Landbay Partners. Conveyancing has been completed months ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Landbay Partners?
Landbay Partners must be informed of your intention before letting out your property as this is likely to be a breach of Landbay Partners’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Landbay Partners directly. You need not do this via a Landbay Partners conveyancing panel solicitor.
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?
In terms of 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.
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Transfer of Equity for Landbay PartnersPlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors