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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.
Looking for information about your firm's panel status?Is my firm on the Precise Mortgages (Charter Court Financial Services Ltd) Conveyancing Panel? 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?
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Precise Mortgages Conveyancing Panel Recently Asked Questions
A conveyancer my husband and I wanted to use for conveyancing on a purchase said she would charge more if my mortgage is with Precise Mortgages due to their difficult processes! Will I regret using Precise Mortgages? Any comments will be appreciated
Precise Mortgages conveyancing requirements for their panel are no better or no more complicated than most lenders. It is the case now the CML Handbook, the "bible" used by solicitors to establish lender requirements, is different for each lender. It is not clear if your lawyer is on the Precise Mortgages conveyancing panel. If they are not, this does add further risk of delay as Precise Mortgages will appoint their own solicitors to look after their interest.
We are getting closer to an exchange and my parents having sent the 10% deposit to my lawyer. I am now advised that as the deposit has not come from me my lawyer needs to make a notification to my lender Precise Mortgages. Apparently, being on the Precise Mortgages conveyancing panel and acting on their behalf he must inform Precise Mortgages if the balance of the mortgage advance is not just from me. I informed the bank about my parent’s contribution when I applied for the mortgage so is it really necessary for him to raise this?
Your lawyer is obliged to check with Precise Mortgages to make sure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only report this to Precise Mortgages if you agree, failing which, your lawyer must cease to continue acting.
Is it necessary during the course of the conveyancing process to have a meeting at the offices of the Precise Mortgages conveyancing panel solicitor to sign the mortgage deed? If so, I will appoint a lawyer who conducts conveyancing in Liverpool so that I can pop in to their offices if necessary.
Most conveyancing panel lawyers for Precise Mortgages undertake all of the work via the post, internet or over the phone. This means that they can undertake your Conveyancing Transaction no matter where you live in England or Wales. However you should check if you can still book an appointment to go into appointed conveyancing lawyer if you prefer.
My conveyancers in Newcastle have advised me that they can not locate my conveyancing file. To assist with my purchase I took out a mortgage with Precise Mortgages. Is it case that being on the Precise Mortgages conveyancing panel they need to have retained the file for a number of years?
Different lenders have different requirements but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the Precise Mortgages Conveyancing Panel Terms. It might be worth you contacting Precise Mortgages directly.
Is it the case that all conveyancing lawyers on the Precise Mortgages conveyancing panel work on a no move no charge basis?
There is generally no requirements by lenders for their firms to operate on a no-sale-no-fee basis. There a small number of lenders who operate a very restricted conveyancing panel managed by a third party company (often termed in the industry as a ‘gatekeeper’). That third party may impose certain conditions such as non-sale-no fee on the panel firms. If you require this as a condition of your conveyancing then you should check with the conveyancing firm that this is part of their service
Is it the case that all solicitor practices on the Precise Mortgages conveyancing panel overseen by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Precise Mortgages conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
I have paid off my mortgage with Precise Mortgages. I assume I don't need a solicitor on the Precise Mortgages panel to remove the mortgage at the Land Registry. Please confirm
If you have finished paying off your Precise Mortgages mortgage they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Precise Mortgages mortgage from the register. Precise Mortgages,and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage: but are not moving to another property where the Precise Mortgages has sent the Land Registry the discharge electronically, and the Precise Mortgages has instructed the Land Registry to do so The Land Registry will send you a letter confirming that your Precise Mortgages mortgage has been paid off.