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Precise Mortgages Conveyancing Lender Panel Compliance Tool

Looking for information about your firm's panel status?

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How can my firm apply to be on the Precise Mortgages Conveyancing Panel?
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COMPLETIONmonitor is an online pre- and post-completion checklist for property lawyers. It is supported by professional indemnity insurers. COMPLETIONmonitor is a unique risk mitigation tool.

This system assists the way you can demonstrate to lender panels that you are, and can remain fully compliant with their requirements, with automatic updates on Precise Mortgages’s changes. While using this technology is not a condition for acceptance on the Precise Mortgages panel, demonstrating you can remain up to date with Precise Mortgages’s Handbook requirements is an excellent support to your application to their lender panel and, just as importantly, protect your panel standing.

The software creates real-time alerts, automatically produces compliance and CQS reports, and will increase your firm's efficiency. It is also user friendly, cost-effective and, for some firms, leads to reduced PII premiums.

Find a Law Firm approved by Precise Mortgages

Mortgage companies often vary their requirements. The UK Finance Lenders’ Handbook requirements from Precise Mortgages are not guidelines, they are instructions from a client. As with many clients, instructions can change - and they do change, over time:

A Timeline of Policy Changes


Since 2008, Precise Mortgages has made 207 revisions or additions to sections of their version of the UK Finance Handbook.
That equates to a section change every 13.2 days. In total, 53% of the sections of P2 of the UK Finance Lenders’ Handbook for Precise Mortgages have been changed since 15/12/2008.

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Q and A’s regarding the Precise Mortgages Solicitor Panel from members of the public

I am obtaining a mortgage with Precise Mortgages. I intend to use a Licensed Conveyancer. Does the Precise Mortgages Solicitor panel allow for Licensed Conveyancers
Precise Mortgages’s conveyancing panel is, like many other lenders represented by the CML or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
We are nearing an exchange and my mum and dad having transferred 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 coming from anyone other than me. I disclosed to the bank about my parent’s contribution when I applied for the mortgage so is it really necessary for this now to be an issue?
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.
Your search tool is useful but there are many lawyers listed near London on the Precise Mortgages conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the conveyancing panel for Precise Mortgages ?
We do not recommend specific firms as the right firm for you depends on where your priorities lie. For example you may require a local firm with local knowledge or you might be looking for the low cost conveyancing. We recommend that you speak to 3 or 4 lawyers listed before you make your choice..
I am purchasing a terraced house and getting a mortgage with Precise Mortgages. Can I do my own 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.
I had instructed online conveyancers located in Bristol who are on the Precise Mortgages solicitor panel. They have just invoiced me a separate fee of £195 for the legal aspects of the Precise Mortgages mortgage. Is this a supplemental conveyancing fee specified by Precise Mortgages?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitors can charge a fee for this. This fee is not set by Precise Mortgages but by your lawyers. Some firms on the Precise Mortgages will charge an ‘acting for lender’ fee but plenty of firms include it on their overall fee.
I was thinking of purchasing my friend’s property. Once we agree a price, what’s the best way to move forward? I plan to obtain a mortgage with Precise Mortgages. Is it possible to avoid using solicitors to save on the costs? My father said that years ago it was possible to take the documents into the local Land Registry office and they did the rest
If you are getting a mortgage with Precise Mortgages involved you will need to appoint a solicitor on the Precise Mortgages conveyancing panel. We would not encourage you to both use the same solicitors' firm. There are clear conflict of interest issues and it's not going to make a huge difference to the speed of the overall process. So as not to hold things us you should pass on your solicitors details to Precise Mortgages. Feel free to use our search tool to look for a licensed conveyancer or solicitor on the Precise Mortgages conveyancing panel.
Precise Mortgages have agreed my mortgage in principle, my offer on house has been accepted, now what?
The estate agent will want to know who your solicitors are (make sure these solicitors are on the lenders panel). Call up Precise Mortgages or your broker and complete any relevant paperwork. Precise Mortgages will tell you what documents they want. Precise Mortgages will instruct a valuer. The valuer will get in touch with the estate agent or seller to book an appointment. Once conducted (assuming no problems) it takes about week to get a mortgage offer. Precise Mortgages will issue the offer to you and your lawyer. The transaction will then take it’s course according the nature and complexity of the conveyancing.

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