Metro Bank Conveyancing Panel Information

The Council of Mortgage Lenders (or the BSA) do not involve themselves in training but they do organise numerous useful legal related conferences which are attended by firms on the Metro Bank conveyancing panel. It is our intention to run specific lender focused seminars in the coming months including a webinar on Metro Bank’s Part 2 obligations. Practitioners on the Metro Bank conveyancing panel are welcome. Further details will be made available as part of the LENDERmonitor P2 change Notifications.

The criteria to join the Metro Bank conveyancing panel is likely to be fairly detailed and is unlikely to include signing up to LENDERmonitor alerts.

Many estate agents are feeling the pain if their clients start out on the conveyancing process having appointed a solicitor who is not on the panel with the purchaser’s chosen lender. Many conveyancing firms are only discovering when they begin working on a case that they are no longer able to work with that lender. Given the inevitable resultant delays in the transaction the chances of an abortive deal increases dramatically. in the circumstances there is understandable anguish on the part of the estate agent as a result of the lost time should the client have to change solicitors .

You need to be careful here as what you are intending may not be acceptable to the lender. It is possible that you (as a non-panel firm) or the mortgage applicant are not at liberty instruct a panel firm of your choice. An increasing amount of lenders are making it clear to their panel firms that where a non-panel member firm is instructed by one of their mortgage applicants, the lender will appoint a panel firm to carry out its instructions and to liaise with the borrower's conveyancing firm. You also need to make the costs implications and potential for delay very clear to your client.

CQS membership is no guarantee to lender panel acceptance. Nevertheless the Council of Mortgage Lenders have indicated that it is likely to become a prerequisite for firms wishing to remain on their panels. Some mortgage companies now use the scheme as the starting point for Panel approval such as Santander.

You would be advised to communicate with Metro Bank to obtain standard documents. The CML Handbook contains a specific section for banks to reveal who to contact to obtain standard documents. Metro Bank in their Part 2’s state: Please remember to disclose your Metro Bank solicitors panel number.