Common questions asked concerning the Paratus AMC Conveyancing Panel
from members of the public
We are purchasing a 3 bedroom apartment in Leeds with a mortgage from Paratus AMC. We have a solicitor but Paratus AMC says she’s not on their "panel". We have to appoint one of the Paratus AMC panel solicitors or keep our solicitor and pay for one of their panel ones to represent them. We feel as though this is unjust; is there anything we can do?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the Paratus AMC conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for Paratus AMC
I am purchasing a brand new flat and my solicitor is advising me that she is duty bound to reveal incentives from the seller as her practice is on the Paratus AMC conveyancing panel. The Estate Agents are hassling me to exchange and my preference is not to prolong the conveyancing. is my lawyer taking the correct approach?
You should not exchange unless you have advised to do so by your lawyer. 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). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I need to find a Paratus AMC panel solicitor in Belfast. 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
I was due to complete on my flat last Friday. My lawyer’s firm is on the Paratus AMC conveyancing panel but has moved offices in the past couple of months and had not advised Paratus AMC of their new address. Paratus AMC is now refusing to release my funds as the information from the solicitors isn't correct.
This is a rare situation indeed. 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 Paratus AMC branch or your mortgage broker to see if they can help.
Can I be sure that the solicitor on the Paratus AMC panel is any good?
obtaining recommendations is a good starting point. Before you go ahead check if they offer a no sale no fee offer. Also you often get what you pay for - a firm which quotes more will often provide a better service than one which is cheap as chips. We would always advise that you speak with the lawyer carrying out your transaction
My fiance and I are in the throws of looking at houses and now considering a potential offer. Is it premature to have a solicitor in place? I will be getting a home loan with Paratus AMC
You should start obtaining conveyancing quotes from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their details on the the EA. 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.
It is not clear whether my mortgage offer requires a lease extension . I have called Paratus AMC on various occasions and was told they are content with the situation and they would lend. My solicitor - who is on the Paratus AMC conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. I simply dont know who is right
As long as the conveyancer is on the Paratus AMC panel she or he must comply with the CML Handbook requirements for Paratus AMC. Unless your lawyer obtains specific confirmation in writing that Paratus AMC will go ahead your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask Paratus AMC to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.