Q and A’s regarding the Paratus AMC Conveyancing Panel from members of the public
The solicitor my husband and I had intended to instruct on a purchase said she would charge more if my mortgage is with Paratus AMC due to their unusual legal requirements. Am I likely to be frustrated 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.
I do hope you can help me. My lawyer is informing me me that he has to order a Local Authority search because the firm are on the Paratus AMC approved lawyer panel. Is my lawyer correct?
Unfortunately both you and your lawyer have little choice here. Given that you are taking out a loan with Paratus AMC your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of Paratus AMC’s conveyancing panel appointment which obliges them to follow the CML Handbook requirements last updated Paratus AMC. even if you were a cash buyer you would be ill advised not to carry out a local authority search.
Is it necessary during the course of the conveyancing process to have a meeting at the offices of the Paratus AMC conveyancing panel solicitor to sign the mortgage deed? If so, I will appoint a lawyer who conducts conveyancing in Newcastle
so that I can attend their offices if required.
Most conveyancing panel lawyers for Paratus AMC undertake all of the work via the post, internet or over the phone. This means that they can undertake your Conveyancing Transaction no matter where you live in England or Wales. However you should check if you can still book an appointment to go into appointed conveyancing lawyer if you prefer.
I am considering applying for a Paratus AMC mortgage for purchase of a new build (under development) with 70% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Paratus AMC?
In theory, you could use a solicitor that is not on Paratus AMC conveyancing panel, but Paratus AMC would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
We have agreed a price on a apartment I spoke to a solicitor previously used by my dad and he recommended retaining a solicitor approved by Paratus AMC. The estate agent recommended two local firms so I asked Paratus AMC if the 2 suggested solicitors are approved, which they are not. Paratus AMC suggested that either firm can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of Paratus AMC 's conveyancing panel solicitors (2) Use the local solicitor and accept there may be delays etc as they go through the approval process.
Ask Paratus AMC to suggest a law firm in your location. Lenders have them all over the country. You can also use our search tool at the top of this page to search for a lawyer on the Paratus AMC conveyancing panel based on location. If you particularly like the sound of one of the local lawyers that you have spoken to ask them if they would go onto Paratus AMC conveyancing panel as it may only take about 2-3 weeks. As long as they meet Paratus AMC’s requirements it can be a very simple job for the solicitor. Other stuff will be going on in parallel (as you are at an early stage) so it may not delay matters.
I have decided to exercise my right to buy my property off the council. I have a mortgage agreed with Paratus AMC. Conveyancing is not something I have any knowledge of. 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 recently had an offer accepted on an apartment. My mortgage broker suggested a solicitor I paid an upfront payment of 200. Soon after the conveyancers contacted me to say that they were not on the Paratus AMC conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Paratus AMC panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.