Paratus Conveyancing Panel Information

One might ordinarily expect Paratus via their Part 2 obligations 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 include 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 updated. Law firms can often compound their problems by not communicating with the lender when there is a delay or problem.

Paratus approved panel lawyers have to comply with the UK Finance Lenders’ Handbook instructions relating to Transfer of Equity. These are set out in Section 16.3. First, your firm must approve the form of Transfer of Equity (which should be in the Land Registry's standard form) and, if Paratus require, the deed of covenant on their behalf. You will need to check Paratus CML Part 2 conditions to see if Paratus have standard forms of transfer and deed of covenant. Please note that this requirement can change from one transaction to another so do check! Second,When drafting or approving a transfer, you should bear in mind that: although the transfer should state that it is subject to the mortgage (identified by date and parties), it need give no details of the terms of the mortgage; the transfer need not state the amount of the mortgage debt. If it does, the figure should include both principal and interest at the date of completion, which you must check ; there should be no statement that all interest has been paid to date. Further obligations are set out in the UK Finance Lenders’ Handbook which have to be followed by all firms on the Paratus conveyancing panel

8 potential conveyancing clients search for a solicitor on the Paratus panel on a monthly basis in Hendon. Feel free to contact the Lexsure team who will tell how your firm can be listed by those searching for conveyancing in Hendon.

We would recommend that you supply details of the date of removal, information on the reason for removal, date of appeal and any reason given for reinstatement. This should not negatively affect your firm’s application but gives the Law Society viability as to what has gone on.

You would be advised to get in touch with Paratus to obtain standard documents. The The Council of Mortgage Lenders Handbook contains an explicit question for banks to enumerate who to contact to obtain standard documents. Paratus in their Part 2’s state: You will need to disclose the firm’s Paratus conveyancing panel reference.