Frequently asked questions relating to the Paragon Mortgages Conveyancing Panel from members of the public
How easy is it to change a solicitor as I need to find one who is on the Paragon Mortgages conveyancing panel. How easy is it to change conveyancer?
If you haven't yet instructed a solicitor to do anything for you and have just received quotes, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer you're considering.
We are approaching an exchange and my mum and dad having transferred the 10% deposit to my lawyer. I am now advised that as the deposit has not come from me my lawyer needs to make a notification to my lender Paragon Mortgages. Apparently, being on the Paragon Mortgages conveyancing panel and acting on their behalf he must inform Paragon Mortgages if the balance of the mortgage advance is not just from me. I informed the bank about my parent’s contribution when I applied for the mortgage so is it really necessary for him to raise this?
Your lawyer is obliged to check with Paragon Mortgages to make sure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only report this to Paragon Mortgages if you agree, failing which, your lawyer must cease to continue acting.
Are there any apps to help search for a local solicitor on the Paragon Mortgages conveyancing panel? I have a car and am prepared to travel up to 25 miles to meet the lawyer.
Feel free to make use of the find a conveyancing panel tool on this page. Please choose the lender and your location and you will see a number of lawyer located nearest you. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the Paragon Mortgages solicitor panel.
I am considering applying for a Paragon Mortgages mortgage for purchase of a newly converted (under development) with 60% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Paragon Mortgages?
There is nothing to stop you using your solicitor but Paragon Mortgages will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
When it comes to lenders such as Paragon Mortgages do solicitors have to be pay a fee to be on the conveyancing panel?
We are not aware of any lender fees to be on their panel although some do charge an administration charge to deal with the processing of the conveyancing panel application.
We have a mortgage agreed in principle with Paragon Mortgages. Solicitors have been appointed? How long does it take for Paragon Mortgages to send the offer to our conveyancer
Some lenders take longer than others. Have Paragon Mortgages done the survey? Have you advised Paragon Mortgages as your lawyers details and checked that your lawyer is on the Paragon Mortgages conveyancing panel? It is not unusual for a mortgage offer to take a month to come through
In what circumstances might Paragon Mortgages amend or withdraw their mortgage offer?
Lenders such as Paragon Mortgages can revoke their mortgage offer although this is unusual. should Paragon Mortgages withdraw their offer they may or may not inform you or the lawyer as to their reasoning. There are many potential reasons but here are a few examples:
- Paragon Mortgages may amend or withdraw an offer if the Paragon Mortgages conveyancing panel solicitor is unable to confirm compliance with any of the conditions of the mortgage offer or if any of the terms of the mortgage offer cannot be satisfied
- Many mortgage offers have an expiry date. Your lawyer should check this. Paragon Mortgages may amend or withdraw an offer before the end of its validation period if an offer extension is requested and following a re-evaluation of the property the value of the security is below a level which is acceptable to them.
- If the financial circumstances of the borrower have changed to the detriment and the Paragon Mortgages has been notified
- Where the sale is not at arms length for value to unconnected persons
- Where the lender is on notice of a restriction or a right of pre-emption which is not at market value