Removal from the Paratus and other lender panels: Why they do it and how to get reinstated
- Recurring 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.
- Failure to reapply to remain on the Paratus convincing panel
- Recurring non-compliance with post completion requirements on behalf of Paratus
- Failure to act in accordance 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 adopt.
Answers to Frequently asked questions concerning Paratus panel reinstatement
- How do I discover why my firm’s application for reinstatement was rejected?
- How often will this firm be required to re-apply to remain on the Paratus conveyancing panel?
- Can this firm act for Paratus while the appeal for reinstatement on the Paratus panel is being reviewed? How do I discover if our reinstatement appeal to the Paratus panel is accepted?
- What are our options if my firm’s reinstatement panel application with Paratus is rejected?
- What are the next steps open to me if our Paratus panel reinstatement application is rejected and the client of the firm has a mortgage offer with the Paratus?
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.