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Find a Law Firm approved by Precise Mtgs
Find a Law Firm approved by Precise Mtgs

Find an Approved Solicitor on the Precise Mortgages (Charter Court Financial Services Ltd) Conveyancing Panel

Precise Mortgages Conveyancing Panel : Questions and Answers

How easy is it to change a solicitor as I need to find one who is on the Precise Mortgages conveyancing panel. Is it practical to instruct different lawyers?
If you haven't yet instructed a solicitor to do anything for you and have just received quotes, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer you're considering.
My fiance and I changing mortgage lender for our maisonette with Precise Mortgages. We have a son approaching twenty who lives with us. The solicitor on the Precise Mortgages conveyancing panel has asked us to disclose any adults other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the property is forfeited by the lender. I have a couple of concerns (1) Is this document specific to the Precise Mortgages conveyancing panel as he never had to sign this form when we purchased 3 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Precise Mortgages .This is solely used to protect the Precise Mortgages if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave.

It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Precise Mortgages had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.

What tools are available to search for a local solicitor on the Precise Mortgages conveyancing panel? I have a car and am prepared to travel up to 10 kilometers to meet the conveyancer.
Feel free to make use of the find a conveyancing panel search on this page. Please choose the lender and your location and you will see a number of lawyer located nearest you. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the Precise Mortgages solicitor panel.
I am in the process of remortgaging my property does my lawyer have to be on the Precise Mortgages Conveyancing panel?
There is nothing to stop you using your solicitor but Precise Mortgages will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
Is there a list of Precise Mortgages panel conveyancers on the CML Handbook Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few lenders make their panel listings available online.
Is it the case that all solicitor firms on the Precise Mortgages conveyancing panel regulated by the SRA?
As 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).
In what circumstances might Precise Mortgages amend or withdraw their mortgage offer?
Lenders such as Precise Mortgages can withdraw their mortgage offer although this rarely happens. should Precise Mortgages withdraw their offer they may or may not inform you or the lawyer as to their reasoning. There are many potential reasons but here are a number of examples:
  • Where information comes to Precise Mortgages ‘s attention regarding the customers or the security that they were not aware of prior to offer that affects their original decision to lend
  • If the borrower informs Precise Mortgages of a change in the loan amount agreed
  • Where the lender is on notice of a restriction or a right of pre-emption which is not at market value
  • If the lender reasonably suspects that the applicant, borrower, mortgagor or guarantor is involved in any criminal or fraudulent activity, including trading in illegal drugs or other substances, theft, robbery, deception or other serious offences, or if the applicant borrower, mortgagor or guarantor has a conviction for any serious criminal offence, including theft, deception, fraud, robbery or trade in illegal drugs or other substances;
  • If the solicitor on the Precise Mortgages conveyancing panel acting for the applicant, borrower, mortgagor or guarantor cannot comply with Precise Mortgages ‘s instructions

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Please note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors