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approved by Paratus AMC
Ready to buy a new home? Failing to check that a lawyer is on the Paratus AMC list of approved solicitors can put your transaction at risk of delay or failure.
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How does my firm apply to be on the Paratus AMC Ltd Conveyancing Panel? How can my firm be reinstated onto the Paratus AMC Ltd Conveyancing Panel?Find an Approved Solicitor on the Paratus AMC Ltd Conveyancing Panel
FAQs : The Paratus AMC Conveyancing Panel
For what reasons would a law firm be removed from the Paratus AMC approved conveyancing panel?
According to a recent survey report by the solicitors regulator three quarters of law firms had been excluded from a lender panel. The top reasons in order are :
- lack of transactions
- the lawyer is a sole practitioner
- as part of the HSBC panel reduction
- regulatory contact by SRA
- accidental removal. We are not aware of the specific or common criteria for removal by Paratus AMC
Our lawyer has identified a problem with the lease for the property we are purchasing. The seller’s lawyers have suggested defective title insurance as a workaround. We are happy with insurance and will cover the costs. Our lawyer has advised that as he is on the Paratus AMC conveyancing panel he must be satisfied that the lender is happy with this solution. Who is the client here, us or Paratus AMC?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and Paratus AMC are the client. 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 Handbook conditions require your lawyer to disclose issues such as defects will the lease so that Paratus AMC can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
I require the services of a Paratus AMC panel solicitor in Stirling. Could you help me?
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. After all the cost is only one £1 a month
I am in the process of refinancing my property does my lawyer need to be on the Paratus AMC Solicitor panel?
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 two solicitors involved, and it will undoubtedly be more expensive too.
Hi, thinking about buying a house off my mate. Once we agree a price, what’s the best way to proceed? I hope to get a mortgage with Paratus AMC. Is there anyway to cut out the solicitors to save on the costs? My father said that years ago it was possible to take the documents into the local Land Registry office and they did the rest
If you are getting a mortgage with Paratus AMC involved you will need to appoint a solicitor on the Paratus AMC conveyancing panel. We would not encourage you to both use the same solicitors' firm. There are clear conflict of interest issues and it's not going to make a huge difference to the speed of the overall process. So as not to hold things us you should pass on your solicitors details to Paratus AMC. Feel free to use our search tool to look for a licensed conveyancer or solicitor on the Paratus AMC conveyancing panel.
I have a mortgage with Paratus AMC. Conveyancing was finalised 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?
Paratus AMC must be informed of your intention in advance of renting 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 solicitor.
I recently had an offer accepted on a house. My financial adviser recommended their conveyancers 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.
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