Find a Law Firm
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.
Looking for information about your firm's panel status?
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
Paragon Mortgages Solicitor Panel Recently Asked Questions
I would like to know the reason why all UK lawyers are not 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 conveyancing solicitor is asking me for proof of ID documents stating that this is part of his legal duty as a solicitor on the Paragon Mortgages Solicitor panel. Is this right?
Due to Money Laundering Regulations your conveyancing lawyer is duty bound to confirm positively your identification when entering into a business relationship with you. It is a criminal offense if your lawyer not do this. If you do not provide ID early in the transaction the solicitor must refuse to act for you. It’s unlikely a lawyer will turn you away if you come to the first meeting without relevant ID but you will have to produce it at some point so you might as well bring it with you to the initial meeting so the lawyer can tick the ID verification box and start sorting out the conveyancing straight away. If you are getting a mortgage with Paragon Mortgages your lawyer also has to check ID documents to satisfy Paragon Mortgages
Do all the firms listed on your search have online case tracking as I was under the impression that this was a precondition of being on the Paragon Mortgages solicitor panel?
No. There is no CML Part 2 or Building Society Association requirement relating to online case tracking. Some law firms operate such technology and some don't.
I am purchasing a garden flat and getting a mortgage with Paragon Mortgages. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing you will have to appoint a solicitor on the Paragon Mortgages conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to made in you doing to conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on the Paragon Mortgages conveyancing panel in your location.
I have had an offer accepted on a flat I spoke to a lawyer previously used by my dad and he recommended retaining a property lawyers approved by Paragon Mortgages. The estate agent recommended two local firms so I asked Paragon Mortgages if the 2 suggested solicitors are approved, which they are not. Paragon Mortgages pointed out that either practice can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of Paragon Mortgages 's conveyancing panel solicitors (2) Use the local solicitor and accept there may be delays etc as they go through the approval process.
Enquire of Paragon Mortgages for conveyancing panel firms in your area. 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 Paragon Mortgages 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 Paragon Mortgages conveyancing panel as it may only take about 2-3 weeks. As long as they meet Paragon Mortgages’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.
My existing mortgage is with Paragon Mortgages. My uncle has just retired and wants to pay off the mortgage left on the property. After Paragon Mortgages is paid, I want to transfer the property to my mother's name; How long will it roughly take? Do we need two separate solicitors on the Paragon Mortgages conveyancing panel? I do not intend to live at the property once the Paragon Mortgages mortgage is discharged.
You
will need a solicitor but they need not be on the Paragon Mortgages conveyancing panel.
You will need a solicitor to draw up the transfer and
to deal with the Land Registry formalities. The only thing you need to
consider is that by selling at an undervalue so ask your lawyer about
the implications. There could be an inheritance tax issue if you die
within 7 years of this. As the property is your main residence you need
not pay CGT but you should speak with your accountants in any event.
Paragon Mortgages have agreed my mortgage in principle, my offer on house has been accepted, now what?
The estate agent will want to know who your solicitors are (make sure these solicitors are on the lenders panel). Call up Paragon Mortgages or your broker and complete any relevant paperwork. Paragon Mortgages will tell you what documents they want. Paragon Mortgages will instruct a valuer. The valuer will get in touch with the estate agent or seller to book an appointment. Once conducted (assuming no problems) it takes about week to get a mortgage offer. Paragon Mortgages will issue the offer to you and your lawyer. The transaction will then take it’s course according the nature and complexity of the conveyancing.
Other Topics
Transfer of Equity for Paragon MortgagesPlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors