Metro Bank Conveyancing Lender Panel Compliance Tool

COMPLETIONmonitor is an online pre- and post-completion checklist for property lawyers. Supported by the Council of Mortgage Lenders and professional indemnity insures. COMPLETIONmonitor is a unique risk management tool.

This software is the only way you can demonstrate to lender panels that you are, and can remain fully compliant with their instructions, with automatic updates on Metro Bank’s changes. While utilising the tool is not a condition for acceptance on the Metro Bank panel, demonstrating you can stay up to date with Metro Bank’s Handbook requirements is a helpful support to your application to their lender panel and, more importantly, protect your firm’s panel standing.

The software creates real-time alerts, automatically produces regulatory and CQS reports, and will enhance your firm's efficiency. In addition it is simply to use, cost-effective and, for many firms, leads to reduced PII premiums.

Find a Law Firm approved by Metro Bank

Banks and building societies often vary their requirements. The UK Finance Lenders’ Handbook requirements from Metro Bank are not guidelines, they are instructions from a client. As with many clients, instructions can change - and they do change, frequently:

A Timeline of Policy Changes

Since 2008, Metro Bank has made 177 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 15.4 days. In total, 56% of the sections of P2 of the UK Finance Lenders’ Handbook for Metro Bank have been changed since 15/12/2008.

To find out more about lender panel compliance,

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Metro Bank Solicitor Panel Sample Enquires to our Call Center from members of the public

I am hoping to receive a mortgage with Metro Bank. I would like to employ the services of a Licensed Conveyancer. Does the Metro Bank Solicitor panel include conveyancers regulated by the CLC
Metro Bank’s approved solicitor list is, like many other lenders associated to the CML or BSA, open to Licensed Conveyancers regulated by the CLC.
Our lawyer has identified a legal deficiency with the lease for the property we are buying. The other side have put forward title insurance as a solution. We are happy with insurance and will cover the costs. Our solicitor says that as he is on the Metro Bank conveyancing panel he must be satisfied that the lender is happy with this solution. Are we the client or is Metro Bank?
Just because you have a mortgage offer from Metro Bank does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the CML Handbook Requirements. You and Metro Bank are the client. These conveyancing instructions have to be complied with by the Metro Bank conveyancing panel who has to balance acting for you and Metro Bank
Do I have to visit the offices of the Metro Bank conveyancing panel solicitor to execute the legal charge? If so, I will instruct a firm who offer conveyancing in Leeds so that I can attend their offices if necessary.
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 Leeds .
My house is up for sale and I have a buyer. Does my solicitor have to be on the Metro Bank conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Metro Bank conveyancing panel they can still act for you on your sale. it might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
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.
I have a mortgage with Metro Bank. Conveyancing was finalised a year ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Metro Bank?
Your original mortgage agreement with Metro Bank will provide that you need their approval before letting out your property as this is likely to be a breach of Metro Bank’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Metro Bank directly. You need not do this via a Metro Bank conveyancing panel lawyer.
My husband and I are remortgaging a terraced house in Hendon. Conveyancing solicitors in Hendon are about to beretained. My colleaguerecommended that we make sure that the property lawyer in Hendon is on the Metro Bank approved list of lawyers. Is this right?
Not all Hendon conveyancing practices are on the Metro Bank conveyancing panel. Use the above search tool to locate a Hendon conveyancing lawyer on the on the Metro Bank list of approved conveyancing firms.