FAQs : The Paratus AMC Solicitor Panel
from members of the public
Am I correct in assuming that the fact that my conveyancer is not identified on the Paratus AMC Solicitor panel that there is a problem with the standard of his work?
It would not be wise to jump to that conclusion. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The top 3 reasons are as follows: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should simply call the firm and ask them why they are no longer on the approved list for Paratus AMC.
My solicitor has discovered a difference between the assumptions in Paratus AMC’s valuation report and what is in the title deeds. My lawyer informs me that as he is on the Paratus AMC conveyancing panel he is duty bound to ensure that the bank is happy with this discrepancy and is still content to lend. Is my lawyer’s stance legitimate?
A precondition to being on the Paratus AMC approved panel is to comply with the CML Handbook requirements (last updated for this lender on Paratus AMC) which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
I require the services of a Paratus AMC panel solicitor in Stirling. Could you help me?
It is not clear why you need a Paratus AMC panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to Paratus AMC to find out which solicitors in Paratus AMC are on their panel. If you do find such a firm not listed please direct them to our site to list. After all the cost is only one £1 a month
My grandfather passed away last year and as sole heir and executor was left the house. The house had a relatively small loan left on it of around £4500. I want to have the title changed into my name whilst I re-mortgage to Paratus AMC , pay off the mortgage etc. Is this allowed?
If you intend to re-mortgage then Paratus AMC will insist on your using a conveyancer on the Paratus AMC conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Paratus AMC conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Paratus AMC mortgage is registered as a charge at the Land Registry.
Are all Conveyancing Quality Solicitors on the Paratus AMC conveyancing panel?
Some major lenders now use the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of conveyancing solicitors.
We have a mortgage agreed in principle with Paratus AMC. Solicitors have been instructed? How long does it take for Paratus AMC to send the offer to our conveyancer
There is no definitive answer here. Have Paratus AMC done the survey? Have you advised Paratus AMC as your lawyers details and checked that your lawyer is on the Paratus AMC conveyancing panel? sometimes it can take as long as six weeks for a mortgage offer to be issued
We have agreed to purchase a house.One unusual aspect is that the roof has a solar panel. Paratus AMC have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As you are obtaining a mortgage with Paratus AMC your lawyer must to check the Paratus AMC conveyancing instructions contained in the Part of CML Handbook for Paratus AMC . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to Paratus AMC where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. Requirements for Scotland are due in the near future.