Landbay Partners Conveyancing Panel Information

The CML Part II requirements of Landbay Partners are silent on this. Most lenders deal with the question of file retention via their Terms and Conditions where they generally provide that for evidential purposes, the firm must keep the file for a minimum six years from the date of the mortgage. Data imagining is normally suitable compliance with this requirement. Many lenders point out in that it is the practice of some fraudsters to demand the conveyancing file on completion in order to destroy evidence that may later be used against them. It is therefore important to retain these documents to protect Landbay Partners’s interest. To be absolutely sure of Landbay Partners requirements in this regard please check the Terms and Conditions of Landbay Partners’s conveyancing panel appointment.

We can't comment specifically on Landbay Partners. Many major lenders are now introducing ‘file auditing’ as standard practice in relation to completed matters. This raises questions of confidentiality in relation to the borrower and the purpose to which the results of such audits will be put. The starting point is to remember that the file does not belong to your firm, it belongs to the ‘client’. But, of course, we will normally have two clients – the buyer and the lender - and you will owe a duty of confidentiality to each. So basically, you have to separate the file and just send the lender the parts solely relating to themselves. But, of course, as this will basically be correspondence with the lender, mortgage instructions etc.

Check with your COLP but a firm should not send the complete conveyancing file without the buyer client’s express consent – and if she is in arrears with the lender she is hardly likely to agree. However, if the lender can establish a prima facie case of fraud, then you may be under an obligation to disclose the whole file.

The emerging convention is that lenders are including an authority to disclose in loan application forms to counter this problem. Mortgage Express v Sawali, [2010] EWHC 3054 (Ch) indicates that such provisions are valid. Please click here for more information about that case.

The majority of lenders do not operate a specific buy to let conveyancing panel but we are hearing about a few that do. We do not know what the position is with Landbay Partners as at todays date. If you're about to receive instructions from a client on a buy to let purchase with a mortgage from Landbay Partners we suggest that you call Landbay Partners to check the position.

During 2013, 0 sections of the UK Finance Lenders’ Handbook P2 were changed by Landbay Partners. Some changes are more important than others but as a firm on the Landbay Partners conveyancing panel you are of course obliged to comply with individual lender requirements, as set out in Part II of the UK Finance Lenders’ Handbook. Locktons have recently pointed out in an article that non-compliance with Part 2 requirements account for a number of high value claims, and it is therefore important to be aware of any particularly onerous terms that an individual lender may impose.

Remember: CML requirements are not guidelines; they are the lender client’s instructions.

Your insurance brokers are your best port of call to address this question. The chances are that on the basis that you have not been removed for fraud or negligence reasons that there will be little or no impact. The main reason why a firm would be removed off of a lender panel is due to low volume of conveyancing cases although there may be a number of criteria for Landbay Partners solicitor panel membership. Please remember that it is always important that you complete your insurance forms accurately.

You need to communicate with Landbay Partners to obtain standard documents. The The Council of Mortgage Lenders Handbook has an individual question for lenders to reveal who to contact to obtain standard documents. Landbay Partners in their Part 2’s state: Don’t forget to quote the firm’s Landbay Partners conveyancing panel reference.