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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 Conveyancing Panel : Questions and Answers
Is the fact that my conveyancer is not on the Precise Mortgages Solicitor panel that there is a problem with the standard of her conveyancing?
It would not be wise to jump to that conclusion. 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 top 3 reasons are as follows: (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.
can you help? My lawyer is assuring me that she is duty-bound to conduct a Local Authority search because the firm are on the Precise Mortgages conveyancing panel. Is this really necessary?
Unfortunately both you and your lawyer have little choice here. Given that you are taking out a loan with Precise Mortgages your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of Precise Mortgages’s conveyancing panel appointment which obliges them to follow the CML Handbook requirements last updated Precise Mortgages. even if you were a cash buyer you would be ill advised not to carry out a local authority search.
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 execute the legal charge? If so, I will appoint a lawyer who conducts conveyancing in London
so that I can attend their offices when needed.
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 London have advised me that no longer have 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?
It very much depends from lender to lender 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.
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.
I have not been happy with the level or service received from my lawyer. Is there a Precise Mortgages conveyancing panel complaints department or do I complain directly to the law firm?
There is little point in complaining directly to Precise Mortgages. Every solicitor firm and conveyancer must have a complaints procedure. Usually one can find this information from the solicitor’s or conveyancer’s website or ask at their office. They must tell you about it if you ask.
The Legal Ombudsman will make sure that your complaint is addressed by the solicitor. It can also advise you how to complain.
If a licensed conveyancer does not have a complaints procedure or will not tell you about it, contact the Council for Licensed Conveyancers (CLC), which will make sure that your complaint is properly dealt with by the conveyancer. Please see below for more information.
Planning on purchasing a flat with a mortgage with Precise Mortgages. I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Precise Mortgages conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that they are on the Precise Mortgages conveyancing panel
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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