Metro Bank Solicitor Panel Sample Enquires to our Call Center from members of the public
I am getting a offer of a mortgage from Metro Bank. I hope to employ the services of a Licensed Conveyancer. Does the Metro Bank Solicitor panel exclude Licensed Conveyancers
Metro Bank’s conveyancing panel is, like many other lenders represented by the CML or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
I am due to move into my new home next Friday. I have now been asked to send a copy of my building insurance schedule by my solicitor as he says that he has to check this in has capacity as lawyer for Metro Bank. What does the insurance need to cover?
Any lawyer on the Metro Bank conveyancing panel would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in Metro Bank’s Part 2 requirements of the CML Handbook (last updated on Metro Bank). Being on the Metro Bank conveyancing panel your lawyer is expect to follow these requirements.
Do I have to pop into the offices of the Metro Bank conveyancing panel solicitor to sign the mortgage deed? If so, I will appoint a lawyer who conducts conveyancing in Bristol
so that I can pop in to their offices if required.
Whereas this was necessary ten years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in Bristol
.
I am considering applying for a Metro Bank mortgage for purchase of a newly converted (under development) with 70% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Metro Bank?
In theory, you could use a solicitor that is not on Metro Bank conveyancing panel, but Metro Bank would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
We were going to get a DIP from Metro Bank this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc).Do the Metro Bank recommend a solicitor on the Metro Bank conveyancing panel, or is it better to find our own lawyer
You will need to appoint solicitors independently although you'll need to choose one on the Metro Bank conveyancing panel. The solicitor represents both you and the Metro Bank through the process.
I have decided to exercise my right to buy my property off the council. I have a mortgage offer with Metro Bank. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event if you are getting a mortgage with Metro Bank you will need to appoint a solicitor on the Metro Bank conveyancing panel.
At last I have had an offer on an apartment accepted, but there is a chain. The vendors have offered on somewhere, but not been accepted yet, and have viewings of other properties booked. My conveyancing solicitor has been instructed. What do I do now? When should I get the mortgage app going with Metro Bank?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx £1k, then survey/valuation, conveyancing search costs, etc). First you should check that your solicitor is on the Metro Bank conveyancing panel. As to the next stages this very much depends on the circumstances of your case, desire for this property and on the state of the market. In a hot mortgage some buyers would pally for the mortgage with Metro Bank and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.
