Removal from the Precise Mortgages and other lender panels: Why they do it and how to get reinstated
- Recurring delays in registering a charge on behalf of Precise Mortgages Delays or failure to register the Precise Mortgages charge may result in referral to external lawyers of Precise Mortgages to complete outstanding requirements.
- Breaches of Precise Mortgages conveyancing panel requirements
- Significant non-compliance with post completion requirements set by Precise Mortgages
- Missing deadline to reapply to remain on the Precise Mortgages convincing panel
- Failure to act in accordance with the Precise Mortgages panel terms, 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 adopt.
Answers to Frequently asked questions concerning Precise Mortgages panel reinstatement
- Am I restricted as to the amount of occasions my firm can submit applications to get back on the Precise Mortgages conveyancing panel?
- Do any avenues remain open if my firm’s reinstatement panel application with Precise Mortgages is refused?
- Is it possible to find out this practice’s application for reinstatement is rejected?
- Can this firm act for Precise Mortgages while the appeal for reinstatement on the Precise Mortgages panel is being assessed? How do I discover if our reinstatement application to the Precise Mortgages panel is approved?
- What will happen if our Precise Mortgages panel reinstatement application is rejected and our client has a mortgage offer with the Precise Mortgages?
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 appointed 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.