Landbay Partners Conveyancing Panel Information

The requirements to join the Landbay Partners conveyancing panel is likely to be fairly detailed and is unlikely to include signing up to LENDERmonitor alerts.

Criteria differ from lender to lender. We do not hold specific requirements relating to the questions raised as part of the application to be on the Landbay Partners conveyancing panel. Typically lenders need to have full knowledge of a firm including (but not limited to):

Summary of annual accounts

List of all Licensed Conveyancers within firm

Structure of firm and, where applicable, its group

Solicitor

SRA or equivalent regulator registration number where applicable

Whether any lender has ever made a claim against the firm’s PII cover

Full career history for each solicitor including admission date to the relevant Law Society

Full complaints history for each conveyancing solicitor

Number of partners per branch of the firm

top-up split and history of any refusals

The concern here is if you are expect to enter into ‘more onerous’ conditions that than the Handbook obligations. You have to try and take an objective view as to whether the Terms relating to the Landbay Partners conveyancing appointment (or other terms for other lenders) are ‘more onerous’ than the UK Finance Lenders’ Handbook Conditions. Depending on the Terms you may need to provide details on your renewal form. If you are in any doubt please call your broker to discuss before completing the answer.

There are various requirements you need to follow if you wish to comply with your lender client’s instructions as set out in the UK Finance Lenders’ Handbook. (I) You must take reasonable steps to verify that there are no discrepancies between the description of the property as valued and the title and other documents which a reasonably competent conveyancer should obtain, and, if there are, you must tell Landbay Partners immediately. (b) You should take reasonable steps to verify that the assumptions stated by the valuer about the title (for example, its tenure, easements, boundaries and restrictions on its use) in the valuation and as stated in Landbay Partners’s mortgage offer are correct. If they are not, please let Landbay Partners know as soon as possible as it will be necessary for Landbay Partners to check with the valuer whether the valuation needs to be revised. Landbay Partners conveyancing panel solicitors are not expected to assume the role of valuer. Landbay Partners are simply trying to ensure that the valuer has valued the property based on correct information. (c) Landbay Partners recommend that you should advise the borrower that there may be defects in the property which are not revealed by the inspection carried out by their valuer and there may be omissions or inaccuracies in the report which do not matter to them as a lender but which would matter to the borrower. Landbay Partners recommend that, if we send a copy of a valuation report that Landbay Partners have obtained, you should also advise the borrower that the borrower should not rely on the report in deciding whether to proceed with the purchase and that he obtains his own more detailed report on the condition and value of the property, based on a fuller inspection such as a homebuyers survey or comprehensive survey. If you do not receive a copy of the valuation you can always ask for a copy of one from Landbay Partners or the borrower. You still need to comply with the UK Finance Lenders’ Handbook Requirement relating to valuation reports even if you don't receive one directly. Failure to comply not only runs the risk of facing a claim by the lender but also being removed from the Landbay Partners conveyancing panel

The best placed professionals to answer this question are your insurance brokers. 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 would be advised to communicate with Landbay Partners to obtain standard documents. The CML Handbook includes an individual section for lenders to reveal who to contact to obtain standard documents. Landbay Partners in their Part 2’s state: It helps to disclose the firm’s Landbay Partners conveyancing panel reference.