Removal from the Paratus and other lender panels: Why they do it and how to get reinstated
- Your firm fails to meet the criteria to remain on the Paratus conveyancing panel
- Significant 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.
- Non-compliance with the Paratus panel requirements, the written instructions that Paratus give you and the UK Finance Lenders’ Handbook or any alternative set of standard instructions to which Paratus may subsequently subscribe.
- Recurring non-compliance with post completion requirements on behalf of Paratus
- Missing deadline to reapply to be on the Paratus convincing panel
Top questions concerning Paratus panel reinstatement
- Is it possible to find out my firm’s application for reinstatement was turned down?
- Does the COLP in my firm need to sign the reinstatement application to the Paratus panel ?
- What times frames are involved when applying to be reinstated onto the Paratus conveyancing panel?
- Can this firm act for Paratus while the appeal for reinstatement on the Paratus panel is being assessed? How do I know if our reinstatement application to the Paratus panel is approved?
- Please can you set out the application protocol to be reinstated 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 preferred 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.