Metro Bank Solicitor Panel Sample Enquires to our Call Center from members of the public
I am progressing with the sale of my maisonette and the estate agent has just e-mailed to say that the buyers are swapping law firm. I am told that this is due to the fact that Metro Bank will only deal with property lawyers on their conveyancing panel. On what basis would a big named mortgage company only work with certain solicitors?
Lenders have always had panels of law firms they are willing to work with, but in the past few years big names such as Nationwide , have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Banks blame a rise in fraud as the reason for the cull – criteria have been tightened and a smaller panel should be easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels, or have other concerns about them. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyer’s case. Your purchasers are unlikely to have any sway in the decision.
My lawyer has discovered a difference when comparing the surveyor’s assumptions in Metro Bank’s valuation report and what is revealed within the legal papers for the property. My solicitor has advised that as he is on the Metro Bank conveyancing panel he must ensure that the lender is with this discrepancy and is content go ahead. Is my conveyancer’s course or action right?
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) which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
What tools are available to find a local solicitor on the Metro Bank conveyancing panel? I have a car and am prepared to travel up to 10 kilometers to meet the solicitor.
You can use the find a conveyancing panel search on this page. Please choose the lender and your location and you will see a number of lawyer located nearest you. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the Metro Bank solicitor panel.
We're in Wales, First timers purchasing with a mortgage (lender is Metro Bank , but our lawyer is on the Metro Bank conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Metro Bank conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a time-frame for your conveyancing due to third parties outside of our control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain
How can we tell if a solicitor on the Metro Bank panel is any good?
seeking recommendations is a good 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 suggest that you speak with the solicitor carrying out your conveyancing
The for formalities of my remortgage has taken place with a loan from Metro Bank. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about Metro Bank. Who do I contact should I wish to lodge a complaint?
Almost all lenders have complaints procedures. Your first port of call should be one of the Metro Bank branches or the Customer Services Department at Metro Bank head office. Ordinarily complaints to Metro Bank are resolved effectively and efficiently. However if you are not satisfied that the matter is resolved you can write to the
Financial Ombudsman Service at South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
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.