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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
Frequently asked questions relating to the Paratus AMC Conveyancing Panel
For what reasons could a law firm be excluded from the Paratus AMC approved conveyancing panel?
A survey recently commissioned by the Solicitors Regulatory Authority found that three quarters of law firms had been removed 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
I am due to complete my purchase next Monday. My conveyancing lawyer has asked me to provide him with a copy of the building insurance for the house as he says that he has to check this in has capacity as lawyer for Paratus AMC. What risks do Paratus AMC expect the insurance to cover?
Any lawyer on the Paratus AMC conveyancing panel would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in Paratus AMC’s Part 2 requirements of the CML Handbook (last updated on Paratus AMC). Being on the Paratus AMC conveyancing panel your lawyer is expect to follow these requirements.
I have checked your search tool I can't find the lawyer I was hoping to instruct as being on the Paratus AMC conveyancing panel. My lawyer has said that they are on the Paratus AMC approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the Paratus AMC conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the Paratus AMC solicitor panel.
Can you clarify what the consequences are if my solicitor is expelled from the Paratus AMC Solicitor panel before the moving date as agreed at exchange of contracts?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have ti instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by the regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
When it comes to mortgage companies such as Paratus AMC do lawyers have to be pay a fee to be on the list of approved solicitors?
We are not aware of any lender fees to be on their panel although some do charge an administration charge to deal with the processing of the conveyancing panel application.
It is not clear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date . I have called into my local branch Paratus AMC on numerous occasions and told it wasn't a problem and they would lend. My solicitor - who is on the Paratus AMC conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. Who do I believe?
As long as the conveyancer is on the Paratus AMC panel she or he must comply with the CML Handbook requirements for Paratus AMC. Unless your lawyer obtains specific confirmation in writing that Paratus AMC will go ahead your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask Paratus AMC to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.
My ex -wife’s name is on the Paratus AMC mortgage of my property but not on the land registry. The apartment was transferred to me on our divorce many years ago by way of a sealed court order. Does my ex still have a say on the sale even though the land registry showing the property in my name alone? Will I be required to take her name of the Paratus AMC mortgage in order to sell?
In terms of the Paratus AMC mortgage, it is unusual that your ex-wife’s name remains on the mortgage but not on the title. It is conceivable that this is an oversight on the part of your conveyancers to ensure that her name was removed or even an administrative error on the part of Paratus AMC in failing to update their data. In any event, it should cause difficulty providing her name no longer appears on the Land Registry title and you have a court order ordering that the property is transferred to you.