Paragon Mortgages Ltd Conveyancing Panel Information

The CML, along with Paragon Mortgages Ltd and other members created a standard set of instructions where a conveyancer is representing a lender such as Paragon Mortgages Ltd alone in a residential conveyancing transaction. These legal instructions are contained at Part Three of the UK Finance Lenders’ Handbook and are to be read in conjunction with Part I and II. The CML have published an example requirements letter to the borrower’s lawyer for use by the lender's conveyancer, and sets out to the borrower's conveyancer, the documentary and information requirements of the lender's panel conveyancer.

The Scottish Law Society has advised that solicitors should check their lender panel status before accepting client instructions to act. The advice is lender-agnostic as it does not relate specifically to solicitors on the Paragon Mortgages Ltd conveyancing panel. The recommendation arises from the practice of a number of mortgage lenders who remove solicitors from their panels without prior notice as part of their panel management system, which can lead to some solicitors discovering this only once instructed. This is sensible advice as a client finding out midway through a transaction that their lawyer is not on the approved lender panel is very frustrating and can lead to complaints. Many online consumer forums contain posts where someone is complaining about finding that their lawyer is not on a lender conveyancing panel. Such forums include moneysavingexpert.com

One might ordinarily expect Paragon Mortgages Ltd via their Part Two conditions to address this but the Handbook makes no mention on deadlines to send deeds. Do look at the Terms of Paragon Mortgages Ltd’s Conveyancing Panel Appointment that you are bound by. For many lender's these Terms have a clause such as: ‘To keep us informed of the reasons for any delay in your being able to send the title deeds and documents we require to us within 3 months of completion or evidence of proof of registration within that period. (We will send reminders if the deeds have not been received but will not acknowledge receipt of deeds’ It is important to keep Paragon Mortgages Ltd updated. Law firms can often compound their problems by not communicating with the lender when there is a delay or problem.

We would recommend that you supply details of the date of removal, information on the reason for removal, date of appeal and any reason given for reinstatement. This should not adversely impact your application but gives the CQS team viability as to what has happened.

You would be advised to get in touch with Paragon Mortgages Ltd to obtain standard documents. The The Council of Mortgage Lenders Handbook incorporates an explicit inquiry for banks to set out who to contact to obtain standard documents. Paragon Mortgages Ltd in their Part 2’s state: It helps to disclose your Paragon Mortgages Ltd solicitors panel reference.