Common questions asked concerning the Paratus AMC Conveyancing Panel from members of the public
I am expecting a offer of a mortgage from Paratus AMC. I would like to instruct a Licensed Conveyancer. Does the Paratus AMC Conveyancing panel allow for Licensed Conveyancers
Paratus AMC’s conveyancing panel is, like many other lenders represented by the CML or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
I am purchasing a brand new apartment and my solicitor is telling me that she has to disclose incentives from the builder as her practice is on the Paratus AMC conveyancing panel. I am nearing the developer’s deadline to sign contracts and my preference is not to prolong deal. 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.
Whilst your website is a good idea there are many lawyers listed near Chelsea on the Paratus AMC conveyancing panel. Can you recommend a specific firm on the Paratus AMC approved panel?
We do not recommend specific firms as the right firm for you depends on where your priorities lie. For example you may require a local firm with local knowledge or you might be looking for the low cost conveyancing. Before you appoint your lawyer we advise you to speak to two or three of the firms listed to gain comfort as to which one is right for you..
I am trying to get my ex-wife removed the mortgage deeds. Can Paratus AMC really insist on which solicitor I can or can not use?
You can use any solicitor you like but Paratus AMC 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 Paratus AMC solicitors panel
Is the case that all CQS (Conveyancing Quality Scheme) 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. The Law Society’s CQS membership however is 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 firms.
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.
I am due to exchange contracts on my house. I had a double glazing fitted in month 2010 but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, 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.
