Buy to Let - Metro Bank Conveyancing Requirements for Properties Let at Completion

Metro Bank buy-to-let obligations are explicit in Part 1 of the Lenders Handbook which provides that unless it is clear from the mortgage offer that the property is tenanted or is to be let at completion then you must check with Metro Bank as to whether Metro Bank lend on "buy-to-let" premises and that the mortgage is for that purpose.

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Previously updated on 21/02/2024 Section Two of the UK Finance Lenders’ Handbook for Metro Bank deals with who you need to contact If different from section 1.11, i.e the contact point if property is let or to be let. It also deals with whether Metro Bank lend on buy-to-let

If the Property is subject to a letting, solicitor to confirm that:
a. the tenancy is an Assured Shorthold Tenancy within the meaning of the Housing Act 1988 (as amended) (“the Act”);
b. the terms of the tenancy do not constitute or cause a breach of any headlease, any superior lease or any covenant or restriction affecting the freehold out of which the Borrower’s lease is granted;
c. the tenancy is granted on acceptable terms and does not contain any unduly onerous covenants on the part of the landlord;
d. all notices required to be served upon the tenant pursuant to the Act (as amended) have been so served and where the tenancy is to be granted following completion notice is served of the right of the Bank to recover possession under ground 2 in Schedule Two to the Act.

Where the premises, or part of it, is currently let, or is to be let at completion, then the letting must comply with the details set out in the Metro Bank mortgage offer or any consent to let Metro Bank issue. If the letting fails to comply, or no such details are mentioned, you are obliged notify the position to Metro Bank

Part 2 of the UK Finance Lenders’ Handbook for Metro Bank outlines who you need to contact If different from 1.11, i.e the contact point when you do not have details of current letting or letting to take place at completion:

As per 1.11.

Conveyancing solicitors on the Metro Bank conveyancing panel,when it comes to buy to let properties need to check Part 2 of the UK Finance Lenders’ Handbook as to whether counterparts or certified copies of all tenancy agreements and leases in respect of existing tenancies must be sent to Metro Bank after completion

In addressing the question whether the lender requires a certified copy tenancy contract to be sent Metro Bank says:

No - to be held on file with the title deeds and documents after completion unless otherwise stated in the offer.

The information contained within this webpage is for general information purposes only for lawyers in England and Wales, it does not constitute advice and you should always check the UK Finance Lenders’ Handbook for Metro Bank Buy to Let requirements as well as the mortgage offer. Whilst we endeavour to keep the information up to date and correct but does not make any representation or warranties of any kind about its completeness, accuracy, reliability or suitability. Any reliance you place on the information is strictly at your own risk. Lexsure will not be liable for any direct or indirect loss or damage arising out of or in connection with the use of this information. The same caveat applies to members of the public looking at this page. If you wish to find a buy to let conveyancing specialist on the Metro Bank panel or a buy to let mortgage broker click here.