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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
Q and A’s regarding the Paragon Mortgages Solicitor Panel
I appointed a solicitor to work on my house purchase six weeks ago having applied for a mortgage with Paragon Mortgages. The law firm confirmed to me that they are on Paragon Mortgages conveyancing panel and provided me their panel number. Paragon Mortgages then called me to say that their panel number was dormant and would need to be reactivated. What do I do from here? Do I instruct a different law firm listed on the approved panel for Paragon Mortgages?
You may be very frustrated with the lawyer but if it only go take a few more days they it may be worth waiting as, depending on how far progressed you are you may end up delaying the transaction by a number of weeks if you need to replace your solicitor You may wish to enlist the help of your broker to check with the Paragon Mortgages as to the time frame to get your lawyer reinstated on the panel once again.
My lawyer has discovered an inconsistency when comparing the assumptions in Paragon Mortgages’s valuation report and what is revealed within the legal papers for the property. My solicitor informs me that as he is on the Paragon Mortgages conveyancing panel he must ensure that the lender is with this discrepancy and is still content to lend. Is my lawyer’s course or action correct?
A precondition to being on the Paragon Mortgages approved panel is to comply with the CML Handbook requirements (last updated for this lender on Paragon Mortgages) which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
Do all the firms listed on your directory have online case tracking as I was under the impression that this was a precondition of being on the Paragon Mortgages solicitor panel?
No. There is no CML Part 2 or Building Society Association requirement relating to online case tracking. Some law firms operate such technology and some don't.
I was scheduled to complete on my first house two days ago. My lawyer’s firm is on the Paragon Mortgages conveyancing panel but has moved offices 8 weeks ago and had not advised Paragon Mortgages of their new address. Paragon Mortgages is now refusing to release my funds until such time as their systems are up to date with the correct details.
This is as unusual as it is unlucky. Most lender Terms of Conveyancing Panel Appointment specifically oblige the solicitor to inform the lender of an address change. Your solicitor needs to treat this with the utmost urgency. Do speak with or register your concern with the senior partner (assuming he or she is not your direct lawyer). Most lenders would be reasonable in this situation and expedite the resolution of this issue. It may be prudent to enlist the help of your local Paragon Mortgages branch or your mortgage broker to see if they can help.
Are all conveyancing solicitors on the Paragon Mortgages conveyancing panel regulated by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Paragon Mortgages conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
I have today made my last payment due on mortgage with Paragon Mortgages. I assume I don't need a solicitor on the Paragon Mortgages panel to remove the mortgage at the Land Registry. Please confirm
If you have finished paying off your Paragon Mortgages mortgage they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Paragon Mortgages mortgage from the register. Paragon Mortgages,and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
but are not moving to another property
where the Paragon Mortgages has sent the Land Registry the discharge electronically, and
the Paragon Mortgages has instructed the Land Registry to do so
The Land Registry will send you a letter confirming that your Paragon Mortgages mortgage has been paid off.
My husband and I are purchasing a house in Hendon. Conveyancing solicitors in Hendon are preferred to beinstructed. My brokersuggested that we make sure that the property lawyer in Hendon is on the Paragon Mortgages solicitors panel. Aren't all lawyers on the Paragon Mortgages panel?
A limited percentage of Hendon conveyancing solicitors are on the Paragon Mortgages conveyancing panel. 7 people a month use our search tool to search for a Hendon conveyancing firm on the on the Paragon Mortgages solicitors pane.
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Transfer of Equity for Paragon MortgagesPlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors