Paratus Conveyancing Lender Panel Compliance Tool

Lexsure’s COMPLETIONmonitor is web-based pre- and post-completion checklist for residential conveyancing lawyers. Supported by the CML and PI insurers. It is a unique risk management tool.

This software facilitates the way you can prove to lender panels that you are, and can stay fully compliant with their requirements, with alerts on Paratus’s changes. While utilising COMPLETIONmonitor is not a condition for acceptance on the Paratus panel, demonstrating you can stay up to date with Paratus’s Handbook requirements is an excellent support to your panel application and, just as importantly, safeguard your panel standing.

COMPLETIONmonitor generates real-time alerts, automatically produces SRA and CQS reports, and will increase your firm's efficiency. In addition it is user friendly, cost-effective and, for some firms, results in a PII saving.

Find a Law Firm approved by Paratus

Lenders frequently vary their requirements. The UK Finance Lenders’ Handbook requirements from Paratus are not guidelines, they are instructions from a client. As with many clients, instructions can change - and they do change, over time:

A Timeline of Policy Changes

Since 2008, Paratus has made 270 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 10.1 days. In total, 53% of the sections of P2 of the UK Finance Lenders’ Handbook for Paratus have been changed since 15/12/2008.

To find out more about lender panel compliance,

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Recent Changes Include

# Date Assoc. Changes Related To
6.7.1 03/12/2019 CML
16.5.3a 01/06/2018 CML
3.2.4 01/06/2018 CML
5.14.11 01/06/2018 CML Defective Lease Indemnity Insurance
5.5.4 01/06/2018 CML Restrictive Covenant Indemnity Insurance
6.3.1 01/06/2018 CML
6.6.3 01/06/2018 CML
6.9.1 01/06/2018 CML Unknown Rights and Easements Indemnity Insurance
3.1.5 01/06/2018 CML
16.3.7b 02/08/2016 CML

Last update 18/01/2020

Paratus AMC Solicitor Panel Example Support Desk Enquires from members of the public

A solicitor my husband and I wanted to use for conveyancing on a purchase said she will levy higher legal fees if my lender is because of their unusual legal requirements. Will I regret using Paratus AMC? Is Paratus AMC conveyancing so much more difficult?
Paratus AMC conveyancing requirements for their panel are no better or no more complicated than most lenders. It is the case now the CML Handbook, the "bible" used by solicitors to establish lender requirements, is different for each lender. It is not clear if your lawyer is on the Paratus AMC conveyancing panel. If they are not, this does add further risk of delay as Paratus AMC will appoint their own solicitors to look after their interest.
We are due to exchange on the purchase a house but as a result of damage from the recent storms I have agreed compensation from the seller of £3k approx by way of a reduction in the price. This was going to be dealt with as part of the conveyancing process but my mortgage company Paratus AMC will not agree to this. Why was Paratus AMC even consulted?
Your lawyer being on the Paratus AMC conveyancing panel is duty bound to inform Paratus AMC of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to Paratus AMC then they would have to discontinue acting for you and Paratus AMC.
Do all the licensed conveyancers and solicitor practices listed on your search have online case tracking as I understood that this was a condition of being on the Paratus AMC solicitor panel?
No. There is no CML Part 2 or Building Society Association requirement relating to online case tracking. Some law firms operate such technology and some don't.
My house is up for sale and I have a buyer. Does my solicitor have to be on the Paratus AMC conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Paratus AMC conveyancing panel they can still act for you on your sale. it might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
When it comes to lenders such as Paratus AMC do lawyers have to be pay a fee to be on the list of approved solicitors?
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.
I'm in the process of viewing flats and am about to put in an offer. Is it premature to have a solicitor in place? I intend to finance via a mortgage with Paratus AMC
It would be sensible to have your start your search soon rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on the the estate agent. As you are getting a mortgage with Paratus AMC , ask your prospective lawyers check they are on the Paratus AMC conveyancing panel otherwise they can't do the mortgage legal work.
After shopping around on the internet I have found a solicitor having made sure that they are on the Paratus AMC conveyancing panel. Does my lawyer arrange the survey of the property? Or Having read lots of house buying,I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my solicitor - who is on the Paratus AMC conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Paratus AMC will need an independent valuation of the property. Your lawyer will not arrange this. Usually Paratus AMC will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller. or Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by postcode. As you are getting a mortgage with Paratus AMC you could contact your them to see if they have a list of approved surveyors.