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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.
Find an Approved Solicitor on the Metro Bank plc Conveyancing Panel
Metro Bank Conveyancing Panel Example Support Desk Enquires
Is the fact that my conveyancer is not on the Metro Bank Conveyancing panel that there is a problem with the standard of her work?
It would not be wise to jump to that conclusion. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should simply call the firm and ask them why they are no longer on the approved list for Metro Bank.
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 Metro Bank will not agree to this. Why was Metro Bank even consulted?
Your lawyer being on the Metro Bank conveyancing panel is duty bound to inform Metro Bank of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to Metro Bank then they would have to discontinue acting for you and Metro Bank.
How up to date is your database of lawyers on the Metro Bank conveyancing panel? Do Metro Bank send you an updated list?
The firms 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 buying a garden flat and getting a mortgage with Metro Bank. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing you will have to appoint a solicitor on the Metro Bank conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to made in you doing to conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on the Metro Bank conveyancing panel in your location.
Do conveyancing lawyers on the Metro Bank conveyancing panel work on a no move no charge basis?
There is generally no requirements by lenders for their firms to operate on a no-sale-no-fee basis. There a small number of lenders who operate a very restricted conveyancing panel managed by a third party company (often termed in the industry as a ‘gatekeeper’). That third party may impose certain conditions such as non-sale-no fee on the panel firms. If you require this as a condition of your conveyancing then you should check with the conveyancing firm that this is part of their package
For 5 years I had a mortgage with Metro Bank. My uncle has just retired and wants to pay off the mortgage left on the property. After Metro Bank is paid, I want to transfer the property to my mother's name; How long will it roughly take? Do we need two separate solicitors on the Metro Bank conveyancing panel? I do not intend to live at the property once the Metro Bank mortgage is discharged.
You
will need a solicitor but they need not be on the Metro Bank conveyancing panel.
You will need a solicitor to draw up the transfer and
to deal with the Land Registry formalities. The only thing you need to
consider is that by selling at an undervalue so ask your lawyer about
the implications. There could be an inheritance tax issue if you die
within 7 years of this. There's no capital gains tax for you as it is
your main residence.
Metro Bank have agreed my mortgage in principle, my offer on house has been accepted, now what?
The estate agent will want to know who your solicitors are (make sure these solicitors are on the lenders panel). Call up Metro Bank or your broker and complete any relevant paperwork. Metro Bank will tell you what documents they want. Metro Bank will instruct a valuer. The valuer will get in touch with the estate agent or seller to book an appointment. Once conducted (assuming no problems) it takes about week to get a mortgage offer. Metro Bank will issue the offer to you and your lawyer. The transaction will then take it’s course according the nature and complexity of the conveyancing.