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approved by Paragon
Ready to buy a new home? Failing to check that a lawyer is on the Paragon list of approved solicitors can put your transaction at risk of delay or failure.
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How does my firm apply to be on the Paragon Mortgages Ltd Conveyancing Panel? How can my firm be reinstated onto the Paragon Mortgages Ltd Conveyancing Panel?Find an Approved Solicitor on the Paragon Mortgages Ltd Conveyancing Panel
FAQs : The Paragon Mortgages Solicitor Panel
I need to swap lawyers as my lawyer is not on the Paragon Mortgages panel of conveyancing solicitors. Is it practical to instruct different lawyers?
If you haven't yet instructed a solicitor to do anything for you and have just received quotes, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer you're considering.
We are nearing an exchange and my mum and dad having sent the 10% deposit to my lawyer. I am now advised that as the deposit has not come from me my lawyer needs to make a notification to my lender Paragon Mortgages. Apparently, being on the Paragon Mortgages conveyancing panel and acting on their behalf he must inform Paragon Mortgages if the balance of the mortgage advance is coming from anyone other than me. I informed the bank about my parent’s contribution when I applied for the mortgage so is it really necessary for him to raise this?
Your lawyer is obliged to check with Paragon Mortgages to make sure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only report this to Paragon Mortgages if you agree, failing which, your lawyer must cease to continue acting.
Your search tool is useful but there are many lawyers listed near London on the Paragon Mortgages conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the Paragon Mortgages approved panel?
We do not recommend specific firms as the right firm for you depends on where your priorities lie. For example you may require a local firm with local knowledge or you might be looking for the low cost conveyancing. We recommend that you speak to 3 or 4 lawyers listed before you make your choice..
My solicitors in Newcastle have advised me that they can not locate my conveyancing file. At the time of my purchase I took out a mortgage with Paragon Mortgages. Is it case that being on the Paragon Mortgages conveyancing panel they need to have retained the file for a number of years?
It very much depends from lender to lender but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the Paragon Mortgages Conveyancing Panel Terms. It might be worth you contacting Paragon Mortgages directly.
For 5 years I had a mortgage with Paragon Mortgages. My godfather has just retired and wants to pay off the mortgage left on the property. After Paragon Mortgages is paid, I want to transfer the property to my mother's name; How long does the process take? Do we need two separate solicitors on the Paragon Mortgages conveyancing panel? I do not intend to live at the property once the Paragon Mortgages mortgage is discharged.
Although you do need to retain the services of a lawyer they dont
need to be on the Paragon Mortgages panel.
You will need a solicitor to draw up the transfer and
to deal with the Land Registry formalities. The only thing you need to
consider is that by selling at an undervalue so ask your lawyer about
the implications. There could be an inheritance tax issue if you die
within 7 years of this. As the property is your main residence you need
not pay CGT but you should speak with your accountants in any event.
I am currently in the process of buying my council flat. I have a mortgage offer with Paragon Mortgages. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event if you are getting a mortgage with Paragon Mortgages you will need to appoint a solicitor on the Paragon Mortgages conveyancing panel.
After shopping around on the internet I have found a solicitor having checked that they are on the Paragon Mortgages conveyancing panel. Does my lawyer arrange the survey of the property?
Or
Having digested plenty of mortgage guides,I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my solicitor - who is on the Paragon Mortgages conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Paragon Mortgages will need an independent valuation of the property. Your lawyer will not arrange this. Usually Paragon Mortgages will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey.
You may wish to consider appointing your own surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
or
Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by postcode. As you are getting a mortgage with Paragon Mortgages you could contact your them to see if they have a list of approved surveyors.
Other Topics
Transfer of Equity for Paragon MortgagesPlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors