Q and A’s regarding the Paragon Mortgages Solicitor Panel from members of the public
My financial adviser has asked me for my lawyer’ panel member for the Paragon Mortgages conveyancing panel. How do I discover this. I have tried my local Paragon Mortgages office but they have not got back to me yet.
You are best placed to get this information from your conveyancing lawyer. A law firm is likely to keep a file or database of lender panel information which would include, if applicable their conveyancing panel details for Paragon Mortgages.
I am due to complete my purchase next Friday. I have now been asked to send a copy of my building insurance schedule by my solicitor as he says that he has to check this in has capacity as lawyer for Paragon Mortgages. What risks do Paragon Mortgages expect the insurance to cover?
Any lawyer on the Paragon Mortgages conveyancing panel would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in Paragon Mortgages’s Part 2 requirements of the CML Handbook (last updated on Paragon Mortgages). Being on the Paragon Mortgages conveyancing panel your lawyer is expect to follow these requirements.
I am Googling for competitive conveyancing fees. Can I be sure that all the firms that are identified on your directory are on the Paragon Mortgages conveyancing panel?
The solicitor and licensed conveyancing practices listed on our site have assured us via an online form that they are on the Paragon Mortgages panel and agreed to advise us to take down their listing in the event of removal off of the Paragon Mortgages panel. To date we have not been informed by either a bank or a member of the public that the data about a specific firm being on the Paragon Mortgages conveyancing panel is not accurate.
Please explain the implications if my solicitor is removed from the Paragon Mortgages Conveyancing panel prior to completion?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have ti instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by the regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
How can we tell if a solicitor on the Paragon Mortgages panel is any good?
obtaining recommendations is a good starting point. Before you go ahead check if they offer a no sale no fee offer. Also you often get what you pay for - a firm which quotes more will often provide a better service than one which is cheap as chips. We would always recommend that you speak with the lawyer conducting your conveyancing
Hi, thinking about buying a house off my mate. Assuming we can agree a figure, what’s the best way to proceed? I plan to obtain a mortgage with Paragon Mortgages. Is there anyway to cut out the solicitors to save us both money? My dad reckons back in the day he did a lot of it himself, just went into the land registry office and providing them with the info they needed himself
If you are getting a mortgage with Paragon Mortgages involved you will need to appoint a solicitor on the Paragon Mortgages conveyancing panel. We would not encourage you to both use the same solicitors' firm. There are clear conflict of interest issues and it's not going to make a huge difference to the speed of the overall process. So as not to hold things us you should pass on your solicitors details to Paragon Mortgages. Feel free to use our search tool to look for a licensed conveyancer or solicitor on the Paragon Mortgages conveyancing panel.
My brother and I have had an offer accepted on a house I spoke to a conveyancer recommended by my brother and he recommended instructing a property lawyers 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 suggested that either firm 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.
Enquire of Paragon Mortgages to suggest a law firm in your location. 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.