Paragon Mortgages Solicitor Panel Recently Asked Questions from members of the public
I appointed a firm of solicitors to work on my purchase six weeks ago having applied for a mortgage with Paragon Mortgages. The firm reassured me that they are on Paragon Mortgages conveyancing panel and gave me their panel number. Paragon Mortgages then called me to say that their panel number was dormant and would need to be reactivated. What do I do from here? Should I appoint a new solicitor listed on the approved panel for Paragon Mortgages?
The answer depends on whether you still have confidence in the said solicitors and how long it will take for the firm to be reinstated on the Paragon Mortgages conveyancing panel You may wish to enlist the help of your broker to check with the Paragon Mortgages as to how long they think it will take to get the firm to get back on the panel.
I am due to complete my purchase next Monday. 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 does the insurance need to cover?
All property lawyers 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 instructions.
Whilst your website is a good idea there are many lawyers listed near Manchester on the Paragon Mortgages conveyancing panel. Can you recommend a specific firm on the Paragon Mortgages approved panel?
We are not in the business of recommending one firm above another as the right firm for you depends on where your priorities lie. For example you may require a local firm with local knowledge or you might be looking for the low cost conveyancing. Before you appoint your lawyer we advise you to speak to two or three of the firms listed to gain comfort as to which one is right for you..
I was scheduled to complete on my first house last Thursday. My solicitor is on the Paragon Mortgages solicitors panel but has moved offices 8 weeks ago and had not informed Paragon Mortgages of their new address. Paragon Mortgages is now refusing to release my funds until such time as their systems are up to date with the correct details.
This is as unusual as it is unlucky. The majority of 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 assist.
I am due to exchange contracts on my apartment. I had a double glazing fitted in month 6 but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Paragon Mortgages are being difficult. The solicitor who is on the Paragon Mortgages conveyancing panel is recommending indemnity insurance as a solution 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.
My offer on house has been accepted, the seller does however have a dependent purchase. The vendors have offered on somewhere, but not been accepted yet, and have viewings of other properties in the pipeline. My conveyancing solicitor has been instructed. What should be my next step? When should I get the mortgage app going with Paragon Mortgages?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx £1k, then survey/valuation, conveyancing search costs, etc). First you should check that your solicitor is on the Paragon Mortgages conveyancing panel. As to the next stages this very much depends on the circumstances of your case, desire for this property and on the state of the market. In a hot mortgage some buyers would pally for the mortgage with Paragon Mortgages and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.
Me and my partner are taking a long lease of a 1st floor apartment in Hendon. Conveyancing solicitors in Hendon are preferred to begiven the go-ahead. My colleaguerecommended that we check that the solicitor in Hendon is on the Paragon Mortgages approved list of lawyers. Is this really necessary?
A limited percentage of Hendon conveyancing practices are on the Paragon Mortgages conveyancing panel. 7 people a month use our search tool to search for a Hendon conveyancing practitioner on the on the Paragon Mortgages list of approved conveyancing firms.
