Precise Mortgages Conveyancing Panel Sample Enquires to our Call Center from members of the public
I am hoping to receive a mortgage offer from Precise Mortgages. I would like to enlist the help of a Licensed Conveyancer. Does the Precise Mortgages Conveyancing panel include conveyancers regulated by the CLC
Precise Mortgages’s conveyancing panel is, like many other lenders represented by the Council or Mortgage Lenders or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
We are getting closer to an exchange and my mum and dad having sent the 10% deposit to my lawyer. I am now advised that as the deposit has not come from me my lawyer needs to disclose this 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 home loan so is it really necessary for him to raise this?
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.
I am Googling for online conveyancing estimates. Can I be sure that all the practices that are listed on your site are on the Precise Mortgages conveyancing panel?
The solicitor and licensed conveyancing practices listed on our site 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 bank or a member of the public that the data about a specific firm being on the Precise Mortgages conveyancing panel is not accurate.
My solicitors in London have advised me that no longer have my conveyancing file. At the time of 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.
It is not clear whether my mortgage offer requires a lease extension . I have called Precise Mortgages on numerous occasions and told it wasn't a problem and they would lend. My solicitor - who is on the Precise Mortgages conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. I simply dont know who is right
As long as the conveyancer is on the Precise Mortgages panel she or he must comply with the CML Handbook requirements for Precise Mortgages. Unless your lawyer obtains specific confirmation in writing that Precise Mortgages will go ahead your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask Precise Mortgages to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.
My offer was accepted on a house on the 12th February 2014, valuation was booked 3 days after, all came back fine. Property lawyer appointed, 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 an offer 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.
My ex -wife’s name is on the Precise Mortgages mortgage of my property but not on the land registry. The apartment was transferred to me on our divorce many years ago by way of a sealed court order. Does my ex still have a say on the sale even though the land registry showing the property in my name alone? Will I be required to take her name of the Precise Mortgages mortgage in order to sell?
In terms of the Precise Mortgages mortgage, it is unusual that your ex-wife’s name remains on the mortgage but not on the title. It is conceivable that this is an oversight on the part of your conveyancers to ensure that her name was removed or even an administrative error on the part of Precise Mortgages in failing to update their data. In any event, it should cause difficulty providing her name no longer appears on the Land Registry title and you have a court order ordering that the property is transferred to you.