Q and A’s regarding the Paratus AMC Solicitor Panel
from members of the public
I am obtaining a mortgage with Paratus AMC. I hope to enlist the help of a Licensed Conveyancer. Does the Paratus AMC Conveyancing panel include Licensed Conveyancers
Paratus AMC’s conveyancing panel is, like many other lenders represented by the Council or Mortgage Lenders or BSA, open to Licensed Conveyancers regulated by the CLC.
My wife and I changing mortgage lender for our maisonette with Paratus AMC. We have a son approaching twenty who lives with us. The solicitor on the Paratus AMC conveyancing panel requested us to identify any adults other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the flat is repossessed. I have a couple of concerns (1) Is this document specific to the Paratus AMC conveyancing panel as he never had to sign this form when we purchased 4 years ago (2) Does our son by signing this giving up his rights to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Paratus AMC .This is solely used to protect the Paratus AMC if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave.
It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Paratus AMC had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
I need to find a Paratus AMC panel solicitor in Stirling. Can you assist?
Unfortunately it’s not apparent 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. At a fee of one pound per month it is not expensive to register on the site
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 solicitors 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 have decided to exercise my right to buy my property off the council. I have a mortgage agreed with Paratus AMC. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event if you are getting a mortgage with Paratus AMC you will need to appoint a solicitor on the Paratus AMC conveyancing panel.
I am due to exchange contracts on my flat. I had a double glazing fitted in month 7 but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Paratus AMC are being problematic. The solicitor who is on the Paratus AMC conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Paratus AMC are requiring a building regulation certificate. Why do Paratus AMC have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Paratus AMC have referred the matter to their valuer. The reason why Paratus AMC 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.