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approved by Landbay
Ready to buy a new home? Failing to check that a lawyer is on the Landbay list of approved solicitors can put your transaction at risk of delay or failure.
Looking for information about your firm's panel status?How does my firm apply to be on the Landbay Conveyancing Panel? How can my firm be reinstated onto the Landbay Conveyancing Panel?
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Frequently asked questions relating to the Landbay Solicitor Panel
A solicitor my fiance and I wanted to use for conveyancing on a remortgage said he would charge more if my lender is because of their unusual legal requirements. Will I regret using Landbay? Is Landbay conveyancing so much more difficult?
Landbay conveyancing requirements for their panel are no better or no more complicated than most lenders. It is the case now the CML Handbook, the "bible" used by solicitors to establish lender requirements, is different for each lender. It is not clear if your lawyer is on the Landbay conveyancing panel. If they are not, this does add further risk of delay as Landbay will appoint their own solicitors to look after their interest.
My conveyancer has uncovered a difference between the information in Landbay’s valuation report and what is in the conveyancing documents. My solicitor has advised that as he is on the Landbay conveyancing panel he is duty bound to check that the bank is with this discrepancy and is still content to lend. Is my solicitor’s course or action correct?
A precondition to being on the Landbay approved panel is to comply with the CML Handbook requirements (last updated for this lender on Landbay) which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
Are the lawyers identified as being on the Landbay conveyancing panel, together with their details provided by Landbay?
The firms themselves provide us confirmation that they are on the Landbay conveyancing panel as opposed to being supplied with a list from Landbay directly.
The solicitors that I recently instructed on my house acquisition in Brighton has without warning closed. They were on acting for me because I needed a lawyer on the Landbay conveyancing panel and my preferred lawyer was not. I gave them a cheque for £150 in advance. What should be my next steps?
Assuming that you have an Estate Agent in the equation then let them know immediately so that they advise the vendors that there may be a slight delay due to the problems encountered. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Landbay 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 lawyers should be in a position to assist
is it true that all solicitor practices on the Landbay conveyancing panel overseen by the SRA?
As a firm of solicitors, in order to be on the Landbay conveyancing panel they would need to be regulated by the SRA. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
I was thinking of purchasing my friend’s property. Assuming we can agree a figure, what’s the best way to proceed? I hope to get a mortgage with Landbay. Is it possible to avoid using solicitors to save on the costs? My dad reckons back in the day he did a lot of it himself, just went into the land registry office and providing them with the info they needed himself
If you are getting a mortgage with Landbay involved you will need to appoint a solicitor on the Landbay conveyancing panel. We would not encourage you to both use the same solicitors' firm. There are clear conflict of interest issues and it's not going to make a huge difference to the speed of the overall process. So as not to hold things us you should pass on your solicitors details to Landbay. Feel free to use our search tool to look for a licensed conveyancer or solicitor on the Landbay conveyancing panel.
My ex -wife’s name is on the Landbay 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 mortgage in order to sell?
As regards the Landbay 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 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.