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approved by Paragon
Ready to buy a new home? Failing to check that a lawyer is on the Paragon 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 Paragon Mortgages Ltd Conveyancing Panel? How can my firm be reinstated onto the Paragon Mortgages Ltd Conveyancing Panel?Find an Approved Solicitor on the Paragon Mortgages Ltd Conveyancing Panel
Q and A’s regarding the Paragon Mortgages Solicitor Panel
What is the rationale as to why all property lawyers aren't included on the Paragon Mortgages Solicitor panel?
Pre- 2008 most lenders had an appetite for risk which was higher than today. The Financial Services Authority in 2010 conducted a thematic review into mortgage fraud which concluded: know the conveyancing solicitors that you are dealing with. Consequently, lenders have regularly sought more information from law firms about their operations and the individuals who work for them and set certain criteria such a completing on a minimum number of transactions. Many firms that have been excluded from lender panels have 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Such firms were never going to meet the criteria of volume of transactions the lenders required.
My son is buying a newly built flat with a home loan from Paragon Mortgages. His conveyancer has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The document is intended to provide information to the main parties involved in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Paragon Mortgages conveyancing panel as a standard part of the process, and to the surveyor when requested.
The Developer will be required to start the process by downloading the form and completing it.
The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Paragon Mortgages conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Do all mortgage companies provide you with an approved list of solicitors? How do you know who is on the Paragon Mortgages conveyancing panel?
The firms themselves provide us confirmation that they are on the Paragon Mortgages conveyancing panel as opposed to being supplied with a list from Paragon Mortgages directly.
I am selling my house. Does my solicitor have to be on the Paragon Mortgages conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Paragon Mortgages conveyancing panel they can still act for you on your sale. it might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
Can you point me to a directory of Paragon Mortgages panel conveyancers on the Building Society Association’s Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few lenders make their panel listings available online.
I am selling my flat. I had a double glazing fitted in month 2010 but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Paragon Mortgages are being difficult. The solicitor who is on the Paragon Mortgages conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Paragon Mortgages are insisting on a building regulation certificate. Why do Paragon Mortgages have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Paragon Mortgages have referred the matter to their valuer. The reason why Paragon Mortgages 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.
Planning on purchasing a house with a mortgage with Paragon Mortgages. I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Paragon Mortgages conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that they are on the Paragon Mortgages conveyancing panel
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Transfer of Equity for Paragon MortgagesPlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors