Frequently asked questions relating to the Paragon Mortgages Conveyancing Panel from members of the public
On what basis could a law firm be removed from the Paragon Mortgages approved conveyancing panel?
A survey recently commissioned by the Solicitors Regulatory Authority found that three quarters of law firms had been removed from a lender panel. The most common reasons in order are :
- Low volume of transactions
- the lawyer is a sole practitioner
- as part of the HSBC panel reduction
- regulatory contact by SRA
- accidental removal. We are not aware of the specific or common criteria for removal by Paragon Mortgages
Our god-son is about to exchange on a new build apartment with a home loan from Paragon Mortgages. His solicitor has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The document is intended to provide information to the main parties engaged in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Paragon Mortgages conveyancing panel as a standard part of the process, and to the valuer when requested.
The Developer will be required to start the process by downloading the form and completing it.
The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Paragon Mortgages conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I am Googling for competitive conveyancing fees. Can I be sure that all the practices that are listed on your website 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 incorrect.
I am trying to get my ex-wife taken off the mortgage deeds. Can Paragon Mortgages really insist on which solicitor I can or can not retain?
You can use any solicitor you like but Paragon Mortgages then has the right to appoint a different solicitor to act for them at your expense. It might be more cost effective and quicker to instruct a lawyer who is on the Paragon Mortgages solicitors panel
Are all Conveyancing Quality Solicitors on the Paragon Mortgages conveyancing panel?
It is true that some lenders now use the accreditation scheme as the starting point for Panel approval such as HSBC and Santander. The Law Society’s CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to remain on their panels.
We are getting a further advance on our mortgage from Paragon Mortgages as we wish to carry out a loft conversion to our home. Do we need to appoint a solicitor on the Paragon Mortgages conveyancing panel to deal with the legals?
Paragon Mortgages do not ordinarily appoint firms on their approved list of lawyers to deal with such a matter. If they did require any legal work then you would need to ensure that such a lawyer was on the Paragon Mortgages list
Me and my partner are taking a long lease of a penthouse in Hendon. Conveyancing solicitors in Hendon need to beappointed. My brother-in-lawadvised that we double-check that the conveyancer in Hendon is on the Paragon Mortgages panel. Aren't all lawyers on the Paragon Mortgages panel?
It is not that case that all Hendon conveyancing solicitors are on the Paragon Mortgages conveyancing panel. Use the above search tool to search for a Hendon conveyancing firm on the on the Paragon Mortgages approved list of lawyers.