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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?Is my firm on the Metro Bank plc Conveyancing Panel? 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?
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Q and A’s regarding the Metro Bank Solicitor Panel
It has come to my attention via my mortgage adviser that my property lawyer is not on the Metro Bank Solicitor panel. How can I be certain that this is indeed the case?
You need to contact your conveyancer. You lawyer should advise you what has happened. If they are not on the panel they may recommend you to a firm that is on the conveyancing panel for Metro Bank.
I am purchasing a newly built apartment and my conveyancer is advising me that she has to disclose incentives from the seller as her practice is on the Metro Bank conveyancing panel. The Estate Agents are hassling me to exchange and I have no desire to delay deal. Can I insist on an exchange regardless of what my lawyer says about being on the Metro Bank panel?
You should not exchange unless you have advised to do so by your lawyer. A precondition to being on the Metro Bank approved panel is to comply with the CML Handbook requirements (last updated for this lender on Metro Bank). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I note that you have a search directory listing solicitors on the Metro Bank conveyancing panel. Do firms pay you a commission if I appoint them for my house purchase?
We are a listing service only for law firms wishing to communicate if they are on the Metro Bank conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
The solicitors that I appointed last week on my purchase in Hendon has without warning shut down. I only went with them because I had to have a firm on the Metro Bank conveyancing panel and my family lawyer was not. I gave my credit card details for them to take £175 for searches. What should be my next steps?
Assuming that you have an Estate Agent in the equation then let them know straight away so that they advise the vendors that there may be a slight delay due to the problems encountered. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Metro Bank conveyancing panel and notify the lender. If you have paid over any money it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors may be able to help
We are getting a further advance on our mortgage from Metro Bank as we wish to carry out alterations or improvements our home. Do we need to appoint a solicitor on the Metro Bank conveyancing panel to deal with the paperwork?
Metro Bank would not normally instruct firms on their approved list of lawyers to deal with such a matter. If they did require any legal work then you would need to ensure that such a lawyer was on the Metro Bank list
I have a mortgage with Metro Bank. Conveyancing has been completed months ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Metro Bank?
Your original mortgage agreement with Metro Bank will provide that you need their approval before renting your property as this is likely to be a breach of Metro Bank’s mortgage conditions. It may be that Metro Bank will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Metro Bank directly. It should not be necessary to do this via a Metro Bank conveyancing panel lawyer.
I can not work out if 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 Metro Bank on various occasions and told it wasn't a problem 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. I simply dont know who is right
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.