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approved by Metro Bank
Ready to buy a new home? Failing to check that a lawyer is on the Metro Bank 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 Metro Bank plc Conveyancing Panel? How can my firm be reinstated onto the Metro Bank plc Conveyancing Panel?Find an Approved Solicitor on the Metro Bank plc Conveyancing Panel
Examples of recent questions relating to the Metro Bank Solicitor Panel
Is there a reason why all UK lawyers aren't included on the Metro Bank Solicitor panel?
Lenders point to the fact that solicitor-led fraud is thought to be responsible for millions of pounds of fraud every year. The removal of law firms off of lender panels started with the rise in mortgage fraud, which prompted a thematic review by the Financial Services Authority in 2011. Its outcome included recommendations for lenders to review their conveyancing panels, which kicked off a major policy change in the sector. It led to banks and building societies purging less reputable firms off their books
Can you clarify something for me?. My lawyer is not to blame but, my purchase conveyancing has been going on for months. The Local Authority Search from Metro Bank was issued random date and we have agreed a date for me to move into the property on 6 months + 3. My lawyer says that as she is on the Metro Bank conveyancing panel she needs to redo the searches as they are now out of date.
One of the many conditions to being on the Metro Bank approved panel is to comply with the CML Handbook Part 2 obligations (last updated for this lender on Metro Bank)which specifies that a local authority search be not more than 6 months old. You should nevertheless ask your lawyer to check whether something called ‘search validation’ indemnity insurance is acceptable to Metro Bank.
How up to date is your search tool for the Metro Bank conveyancing panel? Do Metro Bank send you an updated list?
The law firm practices themselves provide us confirmation that they are on the Metro Bank conveyancing panel as opposed to being supplied with a list from Metro Bank directly.
I am selling my house. Does my solicitor have to be on the Metro Bank conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Metro Bank conveyancing panel they can still act for you on your sale. it might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
I can not work out if my mortgage offer requires a lease extension . I have called Metro Bank on various occasions and was told they are content with the situation and they would lend. My solicitor - who is on the Metro Bank 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 Metro Bank panel she or he must comply with the CML Handbook requirements for Metro Bank. Unless your lawyer obtains specific confirmation in writing that Metro Bank 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 Metro Bank to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.
I am selling my apartment. I had a double glazing fitted in month 6 but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Metro Bank are being difficult. The solicitor who is on the Metro Bank conveyancing panel is saying indemnity insurance will be fine but Metro Bank are insisting on a building regulation certificate. Why do Metro Bank have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Metro Bank have referred the matter to their valuer. The reason why Metro Bank 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.
I have instructed a lawyer having made sure that they are on the Metro Bank conveyancing panel. Does my lawyer arrange the survey of the property?
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Having digested plenty of house buying,I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my solicitor - who is on the Metro Bank conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Metro Bank will need an independent valuation of the property. Your lawyer will not arrange this. Usually Metro Bank will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey.
You may wish to consider appointing your own surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
or
Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by postcode. As you are getting a mortgage with Metro Bank you could contact your them to see if they have a list of approved surveyors.
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Transfer of Equity for Metro BankPlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors