FAQs : The Metro Bank Solicitor Panel
from members of the public
I appointed a solicitor to conduct the legal paperwork on my purchase 5 weeks ago having applied for a mortgage with Metro Bank. The firm assured me that they are on Metro Bank conveyancing panel and advised me their panel reference. Metro Bank then told me that their panel number was dormant and would need to be reactivated. What happens next? Do I instruct a different law firm listed on the approved panel for Metro Bank?
You may be very frustrated with the lawyer but if it only go take a few more days they it may be worth waiting as, depending on how far progressed you are you may end up delaying the transaction by a number of weeks if you need to replace your solicitor You may wish to enlist the help of your broker to check with the Metro Bank as to the time frame to get your lawyer reinstated on the panel once again.
I am buying a new build apartment and my solicitor is advising me that she is duty bound to reveal incentives from the builder as her firm is on the Metro Bank conveyancing panel. I am on a tight deadline to exchange contracts and I dont want to delay the conveyancing. Is my lawyer right?
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 am planning to acquire a house and require a conveyancing solicitor in Manchester who is on the Metro Bank conveyancing. Can you recommend a local firm?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for Metro Bank . We don’t recommend any particular firm.
My solicitors in Leeds have advised me that they can not locate my conveyancing file. At the time of my purchase I took out a mortgage with Metro Bank. Is it case that being on the Metro Bank conveyancing panel they need to have retained the file for a number of years?
Different lenders have different requirements but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the Metro Bank Conveyancing Panel Terms. It might be worth you contacting Metro Bank directly.
How can we tell if a solicitor on the Metro Bank panel is any good?
Getting recommendations is a sensible starting point. Before you go ahead check if they offer a no sale no fee offer. Also you often get what you pay for - a firm which quotes more will often provide a better service than one which is cheap as chips. We would always advise that you speak with the solicitor conducting your conveyancing
I have today made my last payment due on mortgage with Metro Bank. I assume I don't need a solicitor on the Metro Bank panel to remove the mortgage at the Land Registry. Please confirm
If you have finished paying off your Metro Bank mortgage they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Metro Bank mortgage from the register. Metro Bank,and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
but are not moving to another property
where the Metro Bank has sent the Land Registry the discharge electronically, and
the Metro Bank has instructed the Land Registry to do so
The Land Registry will send you a letter confirming that your Metro Bank mortgage has been paid off.
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.