Removal from the Precise Mortgages and other lender panels: Why they do it and how to get reinstated
- Your firm fails to meet 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.
- 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.
- Failure to reapply to remain on the Precise Mortgages convincing panel
- 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 adopt.
Frequently asked questions concerning Precise Mortgages panel reinstatement
- Does my practice need to apply annually to remain on the Precise Mortgages conveyancing panel?
- Am I restricted as to the number of times my firm can apply to be reinstated on the Precise Mortgages conveyancing panel?
- Is there a fee to revert back onto the Precise Mortgages conveyancing panel?
- Can we appeal if my firm’s application for reinstatement is refused?
- Can this firm act for Precise Mortgages while the application for reinstatement on the Precise Mortgages panel is being processed? How do I discover if our reinstatement appeal to the Precise Mortgages panel is accepted?
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.