Removal from the Precise Mortgages and other lender panels: Why they do it and how to get reinstated
- Missing deadline to reapply to remain on the Precise Mortgages convincing panel
- Your law firm no longer meets the criteria to remain on the Precise Mortgages conveyancing panel
- Precise Mortgages may terminate membership of its conveyancing panel where a firm fails to provide any relevant information or provide incorrect information in its application form or in relation to any future requests for information.
- Non-compliance with the Precise Mortgages panel requirements, the written instructions that Precise Mortgages provide and the UK Finance Lenders’ Handbook or any alternative set of standard instructions to which Precise Mortgages may subsequently subscribe.
- Persistent delays in post completion requirements set by Precise Mortgages
Top questions concerning Precise Mortgages panel reinstatement
- Can we act for Precise Mortgages while the application for reinstatement on the Precise Mortgages panel is being assessed? How do I find out if our reinstatement appeal to the Precise Mortgages panel is approved?
- Are you able to explain why this practice’s application for reinstatement was rejected?
- What are the consequences if our Precise Mortgages panel reinstatement application is turned down and the client of the firm has a mortgage application with the Precise Mortgages?
- How often will this firm be required to re-apply to remain on the Precise Mortgages conveyancing panel?
- To what extent is my firm permanently excluded if our reinstatement panel application with Precise Mortgages is rejected?
Top Tip: The best way to avoid the hassle of seeking Precise Mortgages panel reinstatement is to ensure that your firm is not removed off of the Precise Mortgages conveyancing panel in the first place.
Note: Subject to certain conditions Lexsure’s experts or consultants can assist in providing you with guidance for reinstatement onto the Precise Mortgages conveyancing panel but under no circumstances will Lexsure (or the Conveycentric Team) submit an application to Precise Mortgages directly or via their preferred panel manager. Any reinstatement application will have to be made by your firm. For the avoidance of doubt, Lexsure (or the Conveycentric Team) are in no way involved in managing the Precise Mortgages conveyancing panel.