Paratus Conveyancing Panel Information

The criteria to join the Paratus conveyancing panel is likely to be fairly detailed and is unlikely to include signing up to LENDERmonitor alerts.

Many estate agents are suffering if their clients start out on the conveyancing process using a solicitor who is not on the panel with the purchaser’s chosen lender. Many conveyancing firms are only discovering when they begin working on a case that they are no longer able to work with that lender. Given the inevitable resultant delays in the transaction the chances of an abortive deal increases dramatically. in the circumstances there is understandable anguish on the part of the estate agent as a result of the lost time should the client have to change lawyers.

Each lender has different criteria. We do not hold specific requirements relating to the questions raised as part of the application to be on the Paratus conveyancing panel. Typically lenders need to have full knowledge of a firm including (but not limited to):

SRA or equivalent regulator registration number where applicable

Full disciplinary history for each conveyancing solicitor

Whether the firm is able to operate in other jurisdictions

The percentage of the firm’s business which is conveyancing (broken down into sale

List of all those who can sign off the Certificate Of Title

Full complaints history for each licensed conveyancer

Whether the firm has ever accepted instructions in respect of property clubs and investment schemes

Number of lender conveyancing panels the firm is currently on

Full disciplinary history for each licensed conveyancer

and Conveyancing Quality Scheme

You might expect Paratus via their Part Two requirements to address this but the Handbook is silent on deadlines to send deeds. Do look at the Terms of Paratus’s Conveyancing Panel Appointment that you previously signed. For many lender's these Terms contain a provision such as: ‘To keep us informed of the reasons for any delay in your being able to send the title deeds and documents we require to us within 3 months of completion or evidence of proof of registration within that period. (We will send reminders if the deeds have not been received but will not acknowledge receipt of deeds’ It is imperative to keep Paratus informed. Law firms can often compound their problems by not communicating with the lender when there is a delay or problem.

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 occured.

You would be advised to get in touch with Paratus to obtain standard documents. The CML Handbook contains a specific inquiry for lenders to cite who to contact to obtain standard documents. Paratus in their Part 2’s state: Always remember to quote your Paratus conveyancing panel number.