Paragon Mortgages Ltd Conveyancing Panel Information

We are not aware of any intention on the part of the CML to develop such a tool.

The requirements to join the Paragon Mortgages Ltd conveyancing panel is likely to be fairly detailed and is unlikely to include signing up to LENDERmonitor alerts.

As is the case with the Law Society the CLC has entered discussions with lenders and their representative bodies to see whether and how the risks that lenders wish to mitigate could be addressed through the regulatory framework rather than via ad hoc arrangements that can differ from lender to lender. We expect that that the CLC have been in touch with lenders such as Paragon Mortgages Ltd as well as the CML.

During 2013, 69 sections of the UK Finance Lenders’ Handbook P2 were changed by Paragon Mortgages Ltd. Some changes are more important than others but as a firm on the Paragon Mortgages Ltd conveyancing panel you are of course obliged to comply with individual lender requirements, as set out in Part II of the UK Finance Lenders’ Handbook. Locktons have recently pointed out in an article that non-compliance with Part 2 requirements account for a number of high value claims, and it is therefore important to be aware of any particularly onerous terms that an individual lender may impose.

Remember: CML requirements are not guidelines; they are the lender client’s instructions.

We would recommend that you provide details of the date of removal, information on the reason for removal, date of appeal and any reason given for reinstatement. This should not adversely impact your application but gives the CQS team a complete picture of what has happened.

You should get in touch with Paragon Mortgages Ltd to obtain standard documents. The The Council of Mortgage Lenders Handbook incorporates an explicit question for lenders to cite who to contact to obtain standard documents. Paragon Mortgages Ltd in their Part 2’s state: It helps to disclose the firm’s Paragon Mortgages Ltd solicitors panel number.