Metro Bank and Newcastle Building Society panel restrictions

Metro Bank and Newcastle Building Society are among the institutions that have introduced new restrictions. They now require firms to have at least 120 purchase completions registered with Land Registry over the past 12 months.

Law Gazette article

Jonathan Smithers, president of the Law Society, said: ‘The number of transactions a firm has completed, particularly for smaller firms, does not necessarily indicate the quality of that firm’s work. We would urge lenders to look at qualitative indicators such as membership of the Conveyancing Quality Scheme when selecting firms.’