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Paratus Solicitor Panel: Recently Asked Questions
Is there a standard appeals process to prevent solicitors from being unfairly removed them from lender conveyancing panels?
There are thousands of firms across the UK who feel aggrieved claiming that they have been removed from lenders’ panels without an explanation or a good
reason. It is highly unlikely, given that lenders have distanced
themselves from creating a standardised appeals process for
brokers, that an appeals process will be introduced for
lawyers. Commenting on the call by brokers to have a standardised
process the CML said’ “While we understand that some lenders do have
an appeals process, it would not be appropriate for a trade body such
as the CML to seek to be prescriptive about such a process.” Some
lenders do of course set out an appeals policy. The Law Society does
have information on it’s site that may be of assistance. If you would
like to talk to one of our compliance experts about our Lender Panel
Protection Service please click
here.
Given my firm’s membership on the Paratus conveyancing panel how long am I obliged to archive the original conveyancing file?
The Council of Mortgage Lender requirements of
Paratus are silent on this. Most mortgage companies address the question of file retention via their Terms and Conditions where they generally provide that for evidential purposes, the firm must keep the file for at least of 6 years from the date of the mortgage. Data imagining is normally
suitable compliance with this requirement. Many lenders point out in
that it is the practice of some fraudsters to demand the conveyancing
file on completion in order to destroy evidence that may later be
used against them. It is therefore important to retain these
documents to protect Paratus’s interest. To be
absolutely sure of Paratus requirements in this regard
please check the Terms and Conditions of Paratus’s
conveyancing panel membership.
Do I risk of suspension off the
Paratus conveyancing panel if I have not sent the TID on a purchase within a certain time frame from draw-down of funds?
One might ordinarily expect
Paratus via their Part 2 obligations to address this but the Handbook makes no mention on deadlines to send deeds. Do look at the Terms of
Paratus’s Conveyancing Panel Appointment that you previously signed. For many lender's these Terms contain a provision 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 imperative to keep
Paratus informed.
Law firms can often compound their problems by not communicating with the lender when there is a delay or problem.
What type of firms do building societies allow to be on their Conveyancing Panels?
In the same way that there is a unique Paratus
conveyancing panel most building societies, operate a conveyancing
panel for solicitors and other conveyancers that the lender will
instruct. Terms and Conditions and criteria for inclusion on a
building society conveyancing panel vary from lender-to-lender. Having
CQS accreditation may be a requirement. Institutional lenders, such
as a building society, is a client and is entitled to instruct the
solicitor or conveyancer of its choosing (who, in turn, is free to
accept or refuse instructions). Therefore, if lender and borrower
cannot agree which solicitor or conveyancer should represent them
jointly, they would usually proceed on a separate representation
basis. The BSA have not published the equivalent of the UK Finance Lenders’ Handbook
Part 3s.
Our membership of the
Paratus conveyancing panel was terminated but was reinstated on appeal, do I need to include these details on my application for CQS accreditation?
It would be advisable to provide 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 CQS team a complete picture of what has gone on.
I am on the
Paratus
conveyancing panel and due to complete a remortgage within the next few weeks. My file does not contain a Legal Charge for the client to sign.
Who do I contact at Paratus to request substitute deeds?
You would be advised to get in touch with Paratus
to obtain standard documents. The CML Handbook incorporates an explicit question for banks to set out who to contact to obtain standard documents.
Paratus in their Part 2’s state:
Please remember to disclose the firm’s Paratus conveyancing panel reference.
Find a Lawyer on the Paratus Solicior Panel
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Average number of days to register title including a charge in favour of Paratus
This information relates to purchase only and not remortgages.
| Year | Days* |
|---|---|
| 2026 | [no data] |
| 2025 | [no data] |
| 2024 | [no data] |
| 2023 | [no data] |
| 2022 | [no data] |
| 2021 | [no data] |
* Data aggregated from sources including COMPLETIONmonitor
Other related topics:
- CQS policy templates and procedures for accredited Paratus Firms
- Draft Report on Title precedent for Paratus borrowers
- Draft Anti Money Laundering PolicyTemplate for Paratus panel firms to consider
- Dealing with Lender Policy Template panel for CQS accredited firms on the Paratus lender panel
- Buy-to-Let help for Paratus
- Consent-to-Let help for Paratus
- Contractor Mortgages with Paratus
