Paragon Mortgages Ltd Conveyancing Panel Information

Many estate agents will be feeling the pain if their clients start out on the conveyancing process using a conveyancer who is not on the panel with the purchaser’s chosen lender. Many conveyancing firms are only discovering when they begin working on a case that they are no longer able to work with that lender. Given the inevitable resultant delays in the transaction the chances of an abortive deal increases dramatically. in the circumstances there is understandable anguish on the part of the estate agent as a result of the lost time should the client have to change lawyers.

There are many reports available, five of which are as follows:

• Average mortgage advance
• Disclosure/Notification to Lender analysis indicating frequency and nature of disclosures - to include benchmarking analysis against aggregate data
• Buy to Let transactions
• Average time frame to register charges at the Land Registry
• Current and historic missed priority dates

During 2013, 69 sections of the UK Finance Lenders’ Handbook P2 were changed by Paragon Mortgages Ltd. Some changes are more important than others but as a firm on the Paragon Mortgages Ltd conveyancing panel you are of course obliged to comply with individual lender requirements, as set out in Part II of the UK Finance Lenders’ Handbook. Locktons have recently pointed out in an article that non-compliance with Part 2 requirements account for a number of high value claims, and it is therefore important to be aware of any particularly onerous terms that an individual lender may impose.

Remember: CML requirements are not guidelines; they are the lender client’s instructions.

13 potential conveyancing clients search for a conveyancing practitioner on the Paragon Mortgages Ltd panel every 4 weeks in Hendon. The lenderpanel directory service team who will show you how your firm can be identified by those searching for conveyancing in Hendon.

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 negatively affect your firm’s application but gives the Law Society viability as to what has happened.

You should contact Paragon Mortgages Ltd to obtain standard documents. The CML Handbook has a specific question for lenders to cite who to contact to obtain standard documents. Paragon Mortgages Ltd in their Part 2’s state: It is likely that you will need to quote your Paragon Mortgages Ltd conveyancing panel number.