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approved by Precise Mtgs
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
FAQs : The Precise Mortgages Conveyancing Panel
My IFA has says he needs my lawyer’ panel member for the Precise Mortgages conveyancing panel. How do I find this out. I have contacted my local Precise Mortgages office but they have not got back to me yet.
the sensible thing to do is ask for this information from your solicitor. A law firm is likely to keep a file or database of lender panel information which would include, if applicable their conveyancing panel details for Precise Mortgages.
Our lawyer has identified a legal deficiency with the lease for the property we are purchasing. The other side have put forward defective title insurance as a workaround. We are happy with insurance and will cover the costs. Our lawyer says that as he is on the Precise Mortgages conveyancing panel he must check that the lender is happy with this solution. Who is the client here, us or Precise Mortgages?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and Precise Mortgages are the client. A precondition to being on the Precise Mortgages approved panel is to comply with the CML Handbook requirements (last updated for this lender on Precise Mortgages). The CML Handbook conditions require your lawyer to disclose issues such as defects will the lease so that Precise Mortgages can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
I have checked your search tool I can't find the lawyer I was hoping to instruct as being on the Precise Mortgages conveyancing panel. My lawyer has said that they are on the Precise Mortgages approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the Precise Mortgages conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the Precise Mortgages solicitor panel.
My aunt passed away 10 months ago and as sole heir and executor was left the house. The house had a small mortgage left on it of around £8000. I want to transfer the title deeds into my name whilst I re-mortgage to Precise Mortgages , pay off the mortgage etc. Is this possible?
If you intend to re-mortgage then Precise Mortgages will insist on your using a conveyancer on the Precise Mortgages conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Precise Mortgages conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Precise Mortgages mortgage is registered as a charge at the Land Registry.
Do the majority of 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 criteria.
Two weeks ago we had a mortgage agreed in principle with Precise Mortgages. Solicitors have been appointed? What is the average time that one could expect to receive a mortgage offer from Precise Mortgages?
Some lenders take longer than others. Have Precise Mortgages conducted the survey? Have you advised Precise Mortgages as your lawyers details and checked that your lawyer is on the Precise Mortgages conveyancing panel? It is not unusual for a mortgage offer to take a month to come through
I had an offer accepted on a property on the 20th March 2014, valuation was booked 3 days later, all came back fine. Solicitor retained, so all that was missing was my mortgage offer. Having made daily calls to Precise Mortgages and chasing them on my offer I have now been told that my offer will not be issued unless the lawyer is on the Precise Mortgages conveyancing panel. Can the lender hold off the offer?
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Precise Mortgages to deal with your lawyers application to be on the Precise Mortgages conveyancing panel. There's no guarantee that your solicitors will be accepted.
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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