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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.
Looking for information about your firm's panel status?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
Paratus AMC Conveyancing Panel : Questions and Answers
For what reasons would a law firm be removed from the Paratus AMC approved conveyancing panel?
A survey recently commissioned by the Solicitors Regulatory Authority found that three quarters of solicitor practices had been removed from a lender panel. The top reasons in order are :
- Low volume 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
We are nearing an exchange and my parents having sent the 10% deposit to my lawyer. I am now advised that as the deposit has not come from me my lawyer needs to disclose this to my lender Paratus AMC. Apparently, being on the Paratus AMC conveyancing panel and acting on their behalf he must inform Paratus AMC if the balance of the mortgage advance is coming from anyone other than me. I informed the bank about my parent’s contribution when I applied for the mortgage so is it really necessary for him to raise this?
Your lawyer is obliged to check with Paratus AMC to make sure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only report this to Paratus AMC if you agree, failing which, your lawyer must cease to continue acting.
I see that you have a post code search directory listing law firms on the Paratus AMC conveyancing panel. Do firms pay you a referral fee if I appoint them for my own conveyancing?
We are a listing service only for law firms wishing to communicate if they are on the Paratus AMC conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
I am purchasing a semi-detached house and getting a mortgage with Paratus AMC. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing you will have to appoint a solicitor on the Paratus AMC 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 Paratus AMC conveyancing panel in your location.
Hi, thinking about buying a house off my mate. Assuming we can agree a figure, what’s the best way to proceed? I plan to obtain a mortgage with Paratus AMC. Is there anyway to cut out the solicitors to save on the costs? My dad reckons back in the day he did a lot of it himself, just went into the land registry office and providing them with the info they needed himself
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.
My existing mortgage is with Paratus AMC. My godfather retired last week and wants to pay off my mortgage. After Paratus AMC is paid, I want to transfer the property to my mother's name; How long does the process take? Do we need two separate solicitors on the Paratus AMC conveyancing panel? I do not intend to live at the property once the Paratus AMC mortgage is discharged.
Although you do need to retain the services of a lawyer they dont need to be on the Paratus AMC 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.
At last I have had an offer on an apartment accepted, but there is a chain. The vendors have offered on somewhere, but not been accepted yet, and have viewings of other properties booked. My conveyancing solicitor has been instructed. What should be my next step? When should I get the mortgage app going with Paratus AMC?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx £1k, then survey/valuation, conveyancing search costs, etc). First you should check that your solicitor is on the Paratus AMC conveyancing panel. As to the next stages this very much depends on the circumstances of your case, desire for this property and on the state of the market. In a hot mortgage some buyers would pally for the mortgage with Paratus AMC and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.