Find an Approved Solicitor on the Landbay
Common questions asked concerning the Landbay Solicitor Panel
I am in the process of selling my house and the EA has just e-mailed to say that the purchasers are switching law firm. I am told that this is due to the fact that Landbay will only engage with property lawyers on their conveyancing panel. On what basis would a major mortgage company only engage with specific solicitors?
Lenders have always had an approved set of law firms they are willing to work with, but in the past few years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Lenders blame a rise in fraud as the reason for the cull – criteria have been tightened and a smaller panel should be easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels, or have other concerns about them. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyer’s case. Your purchasers are unlikely to have any sway in the decision.
We are due to exchange on the purchase a house but as a result of damage from the recent storms I have agreed compensation from the seller of £3k approx by way of a reduction in the price. This was going to be dealt with as part of the conveyancing process but my mortgage company Landbay will not agree to this. Why was Landbay even consulted?
Your lawyer being on the Landbay conveyancing panel is duty bound to inform Landbay of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to Landbay then they would have to discontinue acting for you and Landbay.
I am planning to acquire a property and need a conveyancing solicitor in who is on the Landbay conveyancing. Could you point me in the right direction as regards a firm?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for Landbay . We don’t recommend any particular firm.
My solicitors in Manchester have advised me that no longer have my conveyancing file. To assist with my purchase I took out a mortgage with Landbay. Is it case that being on the Landbay conveyancing panel they need to have retained the file for a prescribed period?
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 Conveyancing Panel Terms. It might be worth you contacting Landbay directly.
When it comes to lenders such as Landbay do lawyers have to be pay a fee to be on the list of approved solicitors?
We are not aware of any lender fees to be on their panel although some do charge an administration charge to deal with the processing of the conveyancing panel application.
Can you point me to a directory of Landbay panel solicitors on the Building Society Association’s Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few lenders make their panel listings available online.
I am selling my apartment. I had a double glazing fitted in month 2010 but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Landbay are being a right pain. The solicitor who is on the Landbay conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Landbay are insisting on a building regulation certificate. Why do Landbay have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Landbay have referred the matter to their valuer. The reason why Landbay may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing correctly and safely installed. It merely protects against enforcement action which is very unlikely anyway.