FAQs for the Paragon Mortgages Conveyancing Panel from members of the public
The solicitor my fiance and I wanted to use for conveyancing on a purchase said he would charge more if my lender is due to their difficult processes! Will I regret using Paragon Mortgages? Is Paragon Mortgages conveyancing so much more difficult?
Paragon Mortgages conveyancing requirements for their panel are no better or no more complicated than most lenders.
It is the case now the CML Handbook, the "bible" used by solicitors to establish lender requirements, is different for each lender.
It is not clear if your lawyer is on the Paragon Mortgages conveyancing panel. If they are not, this does add further risk of delay as Paragon Mortgages will appoint their own solicitors to look after their interest.
Much to my surprise my property lawyer is asking me for proof of ID documents stating that this is part of his legal duty as a solicitor on the Paragon Mortgages Conveyancing panel. Is this right?
Due to Money Laundering Regulations your conveyancing lawyer is duty bound to confirm positively your identification when entering into a business relationship with you. It is a criminal offense if your lawyer not do this. If you do not provide ID early in the transaction the solicitor must refuse to act for you. It’s unlikely a lawyer will turn you away if you come to the first meeting without relevant ID but you will have to produce it at some point so you might as well bring it with you to the initial meeting so the lawyer can tick the ID verification box and start sorting out the conveyancing straight away. If you are getting a mortgage with Paragon Mortgages your lawyer also has to check ID documents to satisfy Paragon Mortgages
Do all the licensed conveyancers and solicitor practices listed on your directory have online case tracking as I was under the impression that this was a precondition of being on the Paragon Mortgages conveyancing panel?
No. There is no CML Part 2 or Building Society Association requirement relating to online case tracking. Some law firms operate such technology and some don't.
I was scheduled to complete on my dream home two days ago. My solicitor is on the Paragon Mortgages solicitors panel but has changed address in the past couple of months and had not informed Paragon Mortgages of their new address. Paragon Mortgages has locked down the release of mortgage funds as the information from the solicitors isn't correct.
This is a rare situation indeed. Most lender Terms of Conveyancing Panel Appointment specifically oblige the solicitor to inform the lender of an address change. Your solicitor needs to treat this with the utmost urgency. Do speak with or register your concern with the senior partner (assuming he or she is not your direct lawyer). Most lenders would be reasonable in this situation and expedite the resolution of this issue. It may be prudent to enlist the help of your local Paragon Mortgages branch or your mortgage broker to see if they can help.
We have agreed a price on a house I spoke to a solicitor previously used by my mum and he recommended retaining a law firm approved by Paragon Mortgages. The estate agent recommended two local firms so I asked Paragon Mortgages if the 2 suggested solicitors are approved, which they are not. Paragon Mortgages pointed out that either practice can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of Paragon Mortgages 's conveyancing panel solicitors (2) Use the local solicitor and accept there may be delays etc as they go through the approval process.
Ask Paragon Mortgages for conveyancing panel firms in your area. Most banks have lawyers on their panel throughout the UK. You can also use our search tool at the top of this page to search for a lawyer on the Paragon Mortgages conveyancing panel based on location. If you particularly like the sound of one of the local lawyers that you have spoken to ask them if they would go onto Paragon Mortgages conveyancing panel as it may only take about 2-3 weeks. As long as they meet Paragon Mortgages’s requirements it can be a very simple job for the solicitor. Other stuff will be going on in parallel (as you are at an early stage) so it may not delay matters.
I am selling my house. I had a double glazing fitted in month 8 but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Paragon Mortgages are being problematic. The solicitor who is on the Paragon Mortgages conveyancing panel is saying indemnity insurance will be fine but Paragon Mortgages are insisting on a building regulation certificate. Why do Paragon Mortgages have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Paragon Mortgages have referred the matter to their valuer. The reason why Paragon Mortgages may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing correctly and safely installed. It merely protects against enforcement action which is very unlikely anyway.
Planning on purchasing a house with a mortgage with Paragon Mortgages. I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Paragon Mortgages conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that they are on the Paragon Mortgages conveyancing panel
