Removal from the Paratus and other lender panels: Why they do it and how to get reinstated
- Failure to act in accordance with the Paratus panel requirements, the written instructions that Paratus provide and the UK Finance Lenders’ Handbook or any alternative set of standard instructions to which Paratus may subsequently subscribe.
- Breaches of Paratus conveyancing panel Terms and Conditions
- Persistent delays in registering security on behalf of Paratus Delays or failure to register the Paratus charge may result in referral to external lawyers of Paratus to complete outstanding requirements.
- Paratus may terminate membership of its conveyancing panel where a firm fails to provide any relevant information or provide incorrect information in its application form or in relation to any future requests for information.
- Missing deadline to reapply to remain on the Paratus convincing panel
Paratus panel reinstatement : questions that we get asked
- Can you outline the application procedures to revert back onto the Paratus conveyancing panel?
- What are the consequences if our Paratus panel reinstatement application is refused and our client has a mortgage application with the Paratus?
- Does the COLP in my firm need to sign the reinstatement application to the Paratus panel ?
- Does my practice need to apply annually to remain on the Paratus conveyancing panel?
- How long does the application process take when applying to revert back onto the Paratus conveyancing panel?
Top Tip: The best way to avoid the hassle of seeking Paratus panel reinstatement is to ensure that your firm is not removed off of the Paratus conveyancing panel in the first place.
Note: Subject to certain conditions Lexsure’s experts or consultants can assist in providing you with guidance for reinstatement onto the Paratus conveyancing panel but under no circumstances will Lexsure (or the Conveycentric Team) submit an application to Paratus directly or via their appointed panel manager. Any reinstatement application will have to be made by your firm. For the avoidance of doubt, Lexsure (or the Conveycentric Team) are in no way involved in managing the Paratus conveyancing panel.