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Paratus Solicitor Panel: Recently Asked Questions
Is it true that the Law Society has recommended that firms check their status on the
Paratus conveyancing panel?
The Law Society of Scotland has suggested that solicitors should check their lender panel status prior to accepting client instructions to act. The advice is lender-agnostic as it does not relate specifically to solicitors on the
Paratus 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
What is the CLC doing to ensure that licensed conveyancers remain on lender conveyancing panels?
The CLC has begun discussions with lenders 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. It is likely that that the CLC have been in touch with lenders such as
Paratus in recent years.
Does my firm risk of being suspended off the
Paratus conveyancing panel if I have not sent the title deed on a purchase within a certain period of completion?
You might expect
Paratus via their Part 2 conditions to address this but the Handbook makes no mention on time frames. Do look at the Terms of
Paratus’s Conveyancing Panel Appointment that you entered into. For many lender's these Terms include a clause along the following lines:
‘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
Paratus updated.
Law firms can often compound their problems by not communicating with the lender when there is a delay or problem.
My PI renewal application this year contained the following question: ‘Has your Firm been asked by a lender to agree to more onerous terms and conditions than provided for in the UK Finance Lenders’ Handbook?’ My firm is on the majority of bank panels including the
Paratus conveyancing panel. We have Terms and Conditions of appointment which we are duty bound to comply with. Should I reference these Conditions ?
The key here is the caveat ‘more onerous’.
You have to try and take an objective view as to whether the Terms relating to the
Paratus conveyancing appointment (or other terms for other lenders) are ‘more onerous’ than the UK Finance Lenders’ Handbook Conditions. Depending on the Terms you may need to provide details on your renewal form. If you are in any doubt please call your broker to discuss before completing the answer.
Every so often I read a LENDERmonitor alert but I don't see that many important changes. For example, My firm on the
Paratus conveyancing panel and receive a notification only advising of a change of address. Why is that of any relevance?
It is important that you take note of such changes because sending a communication or deeds to the wrong address can cause delays that might not only affect your borrower client but also affect your ability to remain on the
Paratus solicitor panel. Is possible next month that Paratus change their requirements as to where the post completion documents should be sent.
Do you change the details in your CMS? Is this recorded anywhere? Is this communicated to the staff? By virtue of your COT Paratus you are giving assurances that you will send the deeds within 10 days of receiving the TID. Leaving to one side whether you are in breach of an undertaking in sending it to the wrong address, you run the risk of
Paratus suspending you off the panel because they are not receiving the deeds in accordance with the COT. It will not be a valid excuse to say that you sent it to an out of date postal address or DX details.
my firm’s membership of the
Paratus conveyancing panel was revoked but was reinstated on appeal, do I need to disclose this information on my CQS application?
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 a complete picture of what has gone on.
I am on the
Paratus
conveyancing panel and all set to complete a purchase shortly. My papers do not include a Mortgage Deed 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 a specific inquiry for banks to establish who to contact to obtain standard documents.
Paratus in their Part 2’s state:
It helps to disclose your Paratus solicitors 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
