Metro Bank Conveyancing Lender Panel Compliance Tool

Lexsure’s COMPLETIONmonitor is web-based pre- and post-completion checklist for residential conveyancing lawyers. Supported by the CML and professional indemnity insures. It is a unique risk mitigation tool.

This system optimises the way you can demonstrate to lender panels that you are, and can stay fully compliant with their requirements, with notifications given on Metro Bank’s changes. While using COMPLETIONmonitor is not a prerequisite for Metro Bank , demonstrating you can stay up to date with Metro Bank’s Handbook requirements is a helpful support to your panel application and, more importantly, safeguard your panel standing.

The system creates real-time alerts, automatically produces compliance and CQS reports, and will improve your firm's efficiency. In addition it is simply to use, cost-effective and, for many firms, results in a PII saving.

Find a Law Firm approved by Metro Bank

Lenders often vary their requirements. The BSA instructions from Metro Bank are not guidelines, they are instructions from a client. As with many clients, instructions can change - and they do change, over time:

A Timeline of Policy Changes

Since 2010, Metro Bank has made 173 revisions or additions to sections of their version of the BSA Requirements.
That equates to a section change every 15.8 days. In total, 56% of the sections of the BSA Requirements for Metro Bank have been changed since 26/1/2010.

To find out more about lender panel compliance,

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Recent Changes Include

# Date Assoc. Changes Related To
17.1.1 11/01/2019 CML
6.7.6 11/01/2019 CML
14.1.5 03/10/2018 CML
6.7.1 24/09/2018 CML
16.5.3b 28/12/2016 CML
5.4.5 04/02/2015 CML Local Search Indemnity Insurance
16.3.7b 13/01/2015 CML
3.1.3 01/12/2014 CML
1.14 09/08/2014 CML
16.4.1 09/08/2014 CML

Last update 13/01/2019

Metro Bank Conveyancing Panel : Questions and Answers from members of the public

How easy is it to change a solicitor as I need to find one who is on the Metro Bank conveyancing panel. How easy is it to change conveyancer?
If you haven't yet instructed a solicitor to do anything for you and have just received quotes, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer you're considering.
We are getting closer to an exchange and my parents having transferred the 10% deposit to my lawyer. I am now advised that as the deposit has not come from me my lawyer needs to make a notification to my lender Metro Bank. I am advised that, being on the Metro Bank conveyancing panel and acting on their behalf he must inform Metro Bank if the balance of the mortgage advance is coming from anyone other than me. I informed the bank about my parent’s contribution when I applied for the home loan so is it really necessary for this now to be an issue?
Your lawyer is obliged to check with Metro Bank to make sure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only report this to Metro Bank if you agree, failing which, your lawyer must cease to continue acting.
I require the services of a Metro Bank panel solicitor in Belfast. Can you assist?
Unfortunately it’s not apparent why you need a Metro Bank panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to Metro Bank to find out which solicitors in Metro Bank are on their panel. If you do find such a firm not listed please direct them to our site to list. After all the cost is only one £1 a month
Please explain the implications if my solicitor is suspended from the Metro Bank Solicitor panel in advance of the completion date?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have ti instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by the regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
I previously instructed online conveyancers located in Birmingham who are on the Metro Bank solicitor panel. They are now charging me a separate fee of £150 for dealing with the Metro Bank mortgage. Is this a supplemental conveyancing fee set by Metro Bank?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitors can charge a fee for this. This fee is not set by Metro Bank but by your lawyers. Some firms on the Metro Bank will charge an ‘acting for lender’ fee but plenty of firms include it on their overall fee.
Do most banks operate their own panel of solicitors?
Many lenders do operate a restricted conveyancing panel but a lot of lenders allow any solicitors to join their panel so long as they meet their criteria. Each lender sets their own criteria. For example the Metro Bank conveyancing panel requirements are different to Metro Bank’s conveyancing panel requirements.
My husband and I are taking a long lease of a flat in Hendon. Conveyancing solicitors in Hendon are preferred to beappointed. My colleaguesuggested that we make sure that the conveyancer in Hendon is on the Metro Bank list of approved conveyancing firms. Is this really necessary?
A limited percentage of Hendon conveyancing practices are on the Metro Bank conveyancing panel. Click here to search for a Hendon conveyancing solicitor on the on the Metro Bank list of approved conveyancing firms.