Metro Bank Conveyancing Panel Information

The information on this page is designed to keep solicitors and licensed conveyancers abreast of latest requirements changes by Metro Bank and to assist in remaining on the Metro Bank Conveyancing Panel.

Looking for information about your firm's panel status?

How does my firm apply to be on the Metro Bank Conveyancing Panel?

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How can my firm be reinstated onto the Metro Bank Conveyancing Panel?

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Metro Bank Solicitor Panel: Recently Asked Questions

Do the Council of Mortgage Lenders intend to launch a online directory search tool with a view to to identify law firms on the Metro Bank conveyancing panel?

We are not aware of any intention on the part of the CML to develop such a tool.

Does the fact that my firm receives Alerts via this site assist in my application to join the Metro Bank solicitor panel?

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.

Can you suggest any advice if we wish to challenge being removed from the Metro Bank solicitor panel?

If you are removed from the Metro Bank conveyancing panel and you are unaware of or disagree with the reasons for your removal you should: (a) Contact Metro Bank directly. (b) If there is an appeals process detailed on your letter you should follow the process.

In appealing a decision by Metro Bank, it may be useful to provide the following information:

Comprehensive account of your firm’s transaction history
A copy of your COMPLETIONmonitor reports if you use that service
Your recent claims history
Full details of all employees in your practice and their position.
Note down if a solicitor has been admitted to the role on completion of the Qualified Lawyers Transfer Test.
Provide duplicate practising certificates, the firm's current professional indemnity policy and the firm’s accountant's certificate, calculating the percentage of the firm's gross fee income is resulting from residential conveyancing transactions

On appeal some conveyancing firms have been able to regain membership to panels notwithstanding the policy by the respective lenders to refuse panel membership to firms with certain profiles or characteristics. Success is primarily due to the firms’ ability to persuade the lender to make an exception if there is sufficient evidence to reassure them that the firm is well risk-managed.

A recent SRA survey reveals that 76% of solicitors have been removed from a lender conveyancing panel. Metro Bank and other lenders have restricted their panel over the years. Why?

In operating open conveyancing panels, lenders such as Metro Bank face a number of fraud and negligence risks. While there is no authoritative source of data on lender exposure to solicitor–led mortgage fraud, anecdotal evidence from lenders indicates exposure on individual cases are often in the millions of pounds. The National Fraud Authority estimates that £1bn per year is lost in mortgage -related frauds in total, which is seen as a conservative estimate.

These risks are exacerbated by the lack of a comprehensive set of data on all conveyancing firms (which, for the avoidance of doubt, would include solicitors and conveyancers across the UK) which is in a readily accessible format. Currently, lenders vet the suitability of their panel firms against a variety of disparate, incomplete and potentially inaccurate sets of information. One top 5 lender pointed out to us that it is almost impossible to track individual fraudsters who move from firm to firm, especially where they are no longer registered or no longer hold a valid practicing certificate.

Metro Bank and other lenders are in varying stages of reviewing their approach to vetting firms on their conveyancing panels, to ensure their ongoing exposure to unsuitable firms is reduced. There is also regulatory impetus on lenders to ensure that they have satisfactory oversight of their third party panels, including a due-diligence process.

I recently attended a seminar arranged via my PI broker where it was mentioned that solicitors are being sued for non-compliance with CML PII obligations . I am on the Metro Bank conveyancing panel can you tell me how Part 2 changes took place by Metro Bank during 2013?

During 2013, 27 sections of the UK Finance Lenders’ Handbook P2 were changed by Metro Bank. Some changes are more important than others but as a firm on the Metro Bank conveyancing panel you are of course obliged to comply with individual lender requirements, as set out in Part II of the UK Finance Lenders’ Handbook. Locktons have recently pointed out in an article that non-compliance with Part 2 requirements account for a number of high value claims, and it is therefore important to be aware of any particularly onerous terms that an individual lender may impose.

Remember: CML requirements are not guidelines; they are the lender client’s instructions.

Will Conveyancing Quality Scheme accreditation guarantee my firm’s acceptance on to lenders conveyancing panels?

The Law Society’s CQS accreditation 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 approved list of firms. Some mortgage companies now use CQS as the starting point for Panel approval such as Santander.

My firm is listed on the Metro Bank conveyancing panel and all set to complete a purchase within the next week. My file does not contain a Legal Charge for the client to sign. Who do I contact at Metro Bank to obtain duplicate documents?

You would be advised to communicate with Metro Bank to obtain standard documents. The CML Handbook includes a specific question for banks to reveal who to contact to obtain standard documents. Metro Bank in their Part 2’s state:

It is likely that you will need to disclose your Metro Bank conveyancing panel number.

Find a Lawyer on the Metro Bank Conveyancing Panel

Average number of days to register title including a charge in favour of Metro Bank

This information relates to purchase only and not remortgages.

Year	Days*
2024	[no data]
2023	43.2
2022	[no data]
2021	[no data]
2020	51.6
2019	26.3

* Data aggregated from sources including COMPLETIONmonitor

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Please note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors