Find an Approved Solicitor on the Landbay Partners Ltd
Conveyancing Panel
FAQs : The Landbay Partners Conveyancing Panel
My partner and I are FTBs. Within the 48 hours our solicitor has forwarded the sale agreement to sign with a detailed report with a view to exchanging next week. Landbay Partners have this afternoon contacted us to inform me that there is now an issue as our solicitor is not on their conveyancing panel. Please explain?
When purchasing a property with the benefit of a mortgage it is usual for the purchaser's solicitors to also act for the purchaser's lender.
In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme.
Your solicitors should contact Landbay Partners and see if they can apply for membership of the Landbay Partners conveyancing panel, but if that is not viable Landbay Partners will instruct their own lawyers to represent them. You don't have to instruct a firm on the Landbay Partners conveyancing panel as you are at liberty to use your preferred lawyers, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
My husband and I are refinancing our penthouse with Landbay Partners. We have a son 18 who lives with us. The solicitor on the Landbay Partners conveyancing panel has asked us to disclose anyone over the age of 17 other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the flat is repossessed. I have a couple of concerns (1) Is this document specific to the Landbay Partners conveyancing panel as he did not need to sign this form when we bought 3 years ago (2) Does our son by signing this giving up his rights 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.
I have been searching for competitive conveyancing fees. Can I be assured 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 advised us 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 lender or a member of the public that the data about a specific firm being on the Landbay Partners conveyancing panel is incorrect.
My conveyancers in Birmingham have advised me that no longer have my conveyancing file. To assist with 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?
It very much depends from lender to lender 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.
We were going to get a DIP from Landbay Partners this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc).Do the Landbay Partners recommend a solicitor on the Landbay Partners conveyancing panel, or is it better to find our own lawyer
You will need to appoint solicitors independently although you'll need to choose one on the Landbay Partners conveyancing panel. The solicitor represents both you and the Landbay Partners through the process.
It is not clear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date . I have called into my local branch Landbay Partners on numerous occasions and was told they are content with the situation 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. Who do I believe?
As long as the conveyancer is on the Landbay Partners panel she or he must comply with the CML Handbook 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.
At last I have had an offer on an apartment accepted, but there is a chain. The vendors have offered on somewhere, but not been accepted yet, and have viewings of other properties booked. My conveyancing solicitor has been instructed. What do I do now? At what point should I appy for the mortgage with Landbay Partners?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx £1k, then survey/valuation, conveyancing search costs, etc). First you should check that your solicitor is on the Landbay Partners conveyancing panel. As to the next stages this very much depends on the circumstances of your case, desire for this property and on the state of the market. In a hot mortgage some buyers would pally for the mortgage with Landbay Partners and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.