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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
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My IFA has says he needs my lawyer’ panel reference for the Precise Mortgages conveyancing panel. What is the best way to obtain this. I have e-mailed my local Precise Mortgages branch but they cant find it on their system.
Have you tried speaking to your lawyer about this?. 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 conveyancer has identified a problem with the lease for the apartment we are buying. The seller’s lawyers have put forward defective title insurance as a solution. We are content with insurance and will cover the costs. Our solicitor has advised that as he is on the Precise Mortgages conveyancing panel he must be satisfied 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 been looking for online conveyancing estimates. 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 buying a semi-detached house and getting a mortgage with Precise Mortgages. How practical is it for me to do the conveyancing?
Leaving aside the complexities and merits of DIY conveyancing you will have to appoint a solicitor on the Precise Mortgages conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to made in you doing to conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on the Precise Mortgages conveyancing panel in your location.
In what circumstances might Precise Mortgages amend or withdraw their mortgage offer?
Banks and Building Societies such as Precise Mortgages can revoke their mortgage offer although this is unusual. If Precise Mortgages withdraw their offer they may or may not inform you or the lawyer as to the reasons why. There are many potential reasons but here are 5 examples:
- A cashback to the buyer, or | part of the price includes a non-cash incentive to the buyer (eg paid stamp duty land tax),or | any indirect incentive (cash or non cash) or rental guarantee, of which the lender was previously unaware
- Situations where information provided by the borrower that enabled the lender to make a lending decision is fraudulent, incorrect or misleading.
- Where to proceed with the Mortgage offer would be unlawful
- Following advice from the property assessor on their lender panel or If the lender has doubts about the effectiveness of the valuation as a result of subsequent events or information received post valuation but pre completion
- 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;
We were going to get a DIP from Precise Mortgages this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc).Do the Precise Mortgages recommend a solicitor on the Precise Mortgages conveyancing panel, or is it better to find our own lawyer
You will need to appoint solicitors independently although you'll need to choose one on the Precise Mortgages conveyancing panel. The solicitor represents both you and the Precise Mortgages through the process.
I'm spending time looking at apartments and am about to put in an offer. Is it best to have a conveyancer on ‘stand by’? I intend to finance via a mortgage with Precise Mortgages
You should start obtaining conveyancing quotes from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their details on the the EA. As you are getting a mortgage with Precise Mortgages , ask your prospective lawyers check they are on the Precise Mortgages conveyancing panel otherwise they can't do the mortgage legal work.
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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