Metro Bank Conveyancing Panel Information

This not something that the CML would traditionally get involved with however they do host a number of useful legal related conferences which are attended by firms on the Metro Bank conveyancing panel. Lexsure intend to run specific lender focused seminars in the coming months including a webinar on Metro Bank’s Part 2 obligations. Solicitors on the Metro Bank conveyancing panel will be invited. Further details will be communicated as part of the LENDERmonitor P2 change Notifications.

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 Metro Bank 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 moving forward on this question.

Assuming that your practice in is on the Metro Bank conveyancing panel and you are acting for them in relation to a leasehold property, you must report to them if it becomes apparent that the landlord is either absent or insolvent. If Metro Bank are to lend, they may require indemnity insurance. In any event,you will need to check Metro Bank’s specific requirements. Notwithstanding whether Metro Bank will lend in such circumstances you still need to advise the borrower (unless you are acting for Metro Bank alone) as to the risks of buying a property with an insolvent or absentee freeholder.

10 potential conveyancing clients search for a conveyancing practitioner on the Metro Bank panel each month in Hendon. Feel free to contact the Lexsure team who will tell how your firm can be identified by those searching for conveyancing in Hendon.

CQS accreditation is no guarantee to lender panel acceptance. Nevertheless the Council of Mortgage Lenders have indicated that it is likely to become a prerequisite for firms wishing to remain on their approved list of firms. A number of mortgage companies now use CQS as the starting point for Panel acceptance such as Santander.

You would be advised to contact Metro Bank to obtain standard documents. The CML Handbook incorporates an individual question for lenders to cite who to contact to obtain standard documents. Metro Bank in their Part 2’s state: Always remember to quote your Metro Bank conveyancing panel reference.