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Paratus Conveyancing Panel: Recently Asked Questions
Is there a standard appeals process to prevent solicitors from being unfairly removed them from lender conveyancing panels?
We have come across many solicitors who feel 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.
Do you have any idea what Lenders such as
Paratus are asking for when it comes to applying to be on their approved solicitor list?
Criteria differ from lender to lender.
We do not hold specific requirements relating to the questions raised as part of the application to be on the
Paratus conveyancing panel. Typically lenders need to have full knowledge of a firm including (but not limited to):
Whether the firm is able to operate in other jurisdictions
Full disciplinary history for each licensed conveyancer
Details of any accreditation e.g. Lexcel or
The percentage of the firm’s business which is conveyancing (broken down into sale
Full disciplinary history for each conveyancing solicitor
Number of lender conveyancing panels the firm is currently on
SRA or equivalent regulator registration number where applicable
Full complaints history for each licensed conveyancer
List of all those who can sign off the Certificate Of Title
Whether the firm has ever accepted instructions in respect of property clubs and investment schemes
What is the CLC doing to ensure that licensed conveyancers remain on lender conveyancing panels?
The CLC has begun dialogue with banks and their representative bodies to see whether and how the risks that lenders wish to mitigate could be addressed through the regulatory framework rather than via ad hoc arrangements that can differ from lender to lender. We expect that that the CLC have been in touch with lenders such as
Paratus as well as the CML.
What type of firms do building societies accept 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.
I recently attended a seminar arranged via my PI broker where it was mentioned that solicitors are being sued for non-compliance with Part 2 requirements . I am on the
Paratus conveyancing panel can you tell me how Part 2 changes took place by
Paratus during 2013?
During 2013, 0 sections of the UK Finance Lenders’ Handbook P2 were changed by
Paratus. Some changes are more important than others but as a firm on the
Paratus 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.
my firm’s membership of the
Paratus conveyancing panel was terminated but was reinstated on appeal, do I need to include this information on my application for CQS accreditation?
We would recommend that you 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 Law Society viability as to what has happened.
I am on the
Paratus
conveyancing panel and due to complete a remortgage shortly. My papers do not include a Legal Charge for the client to execute.
Who do I contact at Paratus to obtain duplicate documents?
You would be advised to get in touch with Paratus
to obtain standard documents. The The Council of Mortgage Lenders Handbook contains an individual question for lenders to reveal who to contact to obtain standard documents.
Paratus in their Part 2’s state:
Always remember to disclose the firm’s Paratus conveyancing panel number.
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