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Ready to buy a new home? Failing to check that a lawyer is on the Precise Mtgs list of approved solicitors can put your transaction at risk of delay or failure.
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How does my firm apply to be on the Precise Mortgages (Charter Court Financial Services Ltd) Conveyancing Panel? How can my firm be reinstated onto the Precise Mortgages (Charter Court Financial Services Ltd) Conveyancing Panel?Find an Approved Solicitor on the Precise Mortgages (Charter Court Financial Services Ltd) Conveyancing Panel
Precise Mortgages Solicitor Panel Example Support Desk Enquires
Is the fact that my conveyancer is not isted on the Precise Mortgages Solicitor panel that there is a problem with the quality of the firm’s conveyancing?
That would more than likely be a wrong assumption to make. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should simply call the firm and ask them why they are no longer on the approved list for Precise Mortgages.
I am due to move into my new home next Thursday. I have now been asked to send a copy of my building insurance schedule by my solicitor as as he informs me that he is duty bound to validate that it is in order for Precise Mortgages. What risks do Precise Mortgages expect the insurance to cover?
All property lawyers on the Precise Mortgages conveyancing panel would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in Precise Mortgages’s Part 2 requirements of the CML Handbook (last updated on Precise Mortgages). Being on the Precise Mortgages conveyancing panel your lawyer is expect to follow these requirements.
I have been looking for conveyancing quotes online. Can I be confident that all the law firms that are listed on your website are on the Precise Mortgages conveyancing panel?
The law firms on our directory have assured us via an online form that they are on the Precise Mortgages panel and agreed to advise us to take down their listing in the event of removal off of the Precise Mortgages panel. To date we have not been informed by either a lender or a member of the public that the data about a specific firm being on the Precise Mortgages conveyancing panel is incorrect.
I am attempting to get my ex-husband taken off the mortgage deeds. Can Precise Mortgages really tell me which solicitor I can or can not use?
You can use any solicitor you like but Precise Mortgages then has the right to appoint a different solicitor to act for them at your expense. It might be more cost effective and quicker to instruct a lawyer who is on the Precise Mortgages solicitors panel
Do most banks operate their own panel of solicitors?
Many lenders do operate a restricted conveyancing panel but a lot of lenders allow any solicitors to join their panel so long as they meet their criteria. Each lender sets their own criteria. For example the Precise Mortgages conveyancing panel requirements are different to Precise Mortgages’s conveyancing panel requirements.
I have decided to exercise my right to buy my property off the council. I have a mortgage offer with Precise Mortgages. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event if you are getting a mortgage with Precise Mortgages you will need to appoint a solicitor on the Precise Mortgages conveyancing panel.
I can not work out if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date . I have called Precise Mortgages on various occasions and told it wasn't a problem and they would lend. My solicitor - who is on the Precise Mortgages conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. I simply dont know who is right
As long as the conveyancer is on the Precise Mortgages panel she or he must comply with the CML Handbook requirements for Precise Mortgages. Unless your lawyer obtains specific confirmation in writing that Precise Mortgages will go ahead your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask Precise Mortgages to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.
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Transfer of Equity for Precise MortgagesPlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors