Metro Bank Conveyancing Panel Information

Lexsure has not been advised of any intention on the part of the CML to develop such a tool.

The Council of Mortgage Lenders, along with Metro Bank and other stakeholders developed a standard set of instructions where a solicitor is representing a lender such as Metro Bank alone in a residential conveyancing transaction. These legal instructions are contained at Part 3 of the UK Finance Lenders’ Handbook and are to be read together with Parts 1 & 2. The CML have published an example requirements letter to the borrower’s lawyer for use by the lender's conveyancer, and sets out to the borrower's conveyancer, the documentary and information requirements of the lender's panel lawyer.

Given that your firm in is on the Metro Bank conveyancing panel and you are acting for them in relation to a leasehold property, you must report to them if it becomes apparent that the landlord is either absent or insolvent. If Metro Bank are to lend, they may require indemnity insurance. In any event,you will need to check Metro Bank’s specific requirements. Notwithstanding whether Metro Bank will lend in such circumstances you still need to advise the borrower (unless you are acting for Metro Bank alone) as to the risks of buying a property with an insolvent or absentee landlord.

CQS membership is no guarantee to lender panel acceptance. Nevertheless the CML have indicated that it is likely to become a prerequisite for firms wishing to remain on their approved list of firms. Some Lenders now use CQS as the starting point for Panel approval such as HSBC.

You should get in touch with Metro Bank to obtain standard documents. The CML Handbook includes an explicit question for lenders to enumerate who to contact to obtain standard documents. Metro Bank in their Part 2’s state: It helps to quote your Metro Bank conveyancing panel reference.