Looking for information about your firm's panel status?
Metro Bank Solicitor Panel: Recently Asked Questions
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.
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.
Remember: CML requirements are not guidelines; they are the lender client’s instructions.
Find a Lawyer on the Metro Bank Conveyancing Panel
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Year | Days* |
---|---|
2024 | [no data] |
2023 | 43.2 |
2022 | [no data] |
2021 | [no data] |
2020 | 51.6 |
2019 | 26.3 |
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