Paratus Conveyancing Lender Panel Compliance Tool

Lexsure’s COMPLETIONmonitor is an online pre- and post-completion checklist for property lawyers. Supported by the CML and PI insurers. It is a unique risk management tool.

This software optimises the way you can prove to lender panels that you are, and can remain fully compliant with their instructions, with alerts on Paratus’s changes. Notwithstanding that using COMPLETIONmonitor is not a prerequisite for Paratus , demonstrating you can stay up to date with Paratus’s Handbook requirements is an excellent support to your application to their lender panel and, more importantly, safeguard your firm’s panel status.

COMPLETIONmonitor creates real-time alerts, automatically produces regulatory and CQS reports, and will increase your firm's efficiency. It is also simply to use, cost-effective and, for some firms, results in a PII saving.

Find a Law Firm approved by Paratus

Lenders often change 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, frequently:

A Timeline of Policy Changes

Since 2008, Paratus has made 267 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 10.2 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
16.3.1 01/06/2018 CML
16.5.3d 01/06/2018 CML
3.2.4 01/06/2018 CML
4.3 01/06/2018 CML
4.5b 01/06/2018 CML
6.12.1 01/06/2018 CML
6.6.1 01/06/2018 CML
3.1.5 01/06/2018 CML
16.4.1 25/11/2015 CML
1.7 25/11/2015 CML

Last update 08/01/2019

Paratus AMC Conveyancing Panel Sample Enquires to our Call Center from members of the public

I have been advised by my broker that I have to pay Paratus AMC fees should I instruct my family lawyer. How efficient are the Paratus AMC conveyancing panel solicitors? I'm happy to use any solicitor in the country TBH as long as they're good and not exorbitantly priced. Would you recommend a specific law firm on the Paratus AMC panel?
Paratus AMC’s conveyancing panel is pretty large so it would be advisable to check with the firms you are getting quotes from that they are on the panel. You can search by postcode on the search tool on this site to find solicitors that Paratus AMC will allow to act for them.
I am buying a newly constructed apartment and my lawyer is advising me that she has to disclose incentives from the seller as her firm is on the Paratus AMC conveyancing panel. I am on a tight deadline to sign contracts and I dont want to delay matters. Can I insist on an exchange regardless of what my lawyer says about being on the Paratus AMC panel?
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 Middlesbrough on the Paratus AMC conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the Paratus AMC approved panel?
We are not in the business of recommending one firm above another 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. We recommend that you speak to 3 or 4 lawyers listed before you make your choice..
I am considering applying for a Paratus AMC mortgage for purchase of a newly converted (under development) with 70% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Paratus AMC?
There is nothing to stop you using your solicitor but Paratus AMC will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
The mortgage over my property is with Paratus AMC. Conveyancing has been completed some time ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Paratus AMC?
Your original mortgage agreement with Paratus AMC will provide that you need their approval in advance of letting out your property as this is likely to be a breach of Paratus AMC’s mortgage conditions. It may be that Paratus AMC will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Paratus AMC directly. You need not do this via a Paratus AMC conveyancing panel firm.
I am selling my apartment. I had a double glazing fitted in month 6 but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Paratus AMC are being problematic. The solicitor who is on the Paratus AMC conveyancing panel is saying indemnity insurance will be fine but Paratus AMC are insisting on 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.
I was told three weeks ago that my mortgage has been agreed to by Paratus AMC. Is it usual for Paratus AMC to only issue the offer once my solicitor is approved on their conveyancing panel?
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Paratus AMC to deal with your lawyers application to be on the Paratus AMC conveyancing panel. There's no guarantee that your solicitors will be accepted.