Removal from the Precise Mortgages and other lender panels: Why they do it and how to get reinstated

  • Failure to act in accordance with the Precise Mortgages panel terms, the written instructions that Precise Mortgages give you and the UK Finance Lenders’ Handbook or any alternative set of standard instructions to which Precise Mortgages may subsequently adopt.
  • Breaches of Precise Mortgages conveyancing panel requirements
  • Your firm fails to meet the criteria to remain on the Precise Mortgages conveyancing panel
  • Recurring non-compliance with post completion requirements set by Precise Mortgages
  • Precise Mortgages may terminate membership of its conveyancing panel where a firm provides false answers in its application form or in relation to any future requests for information.

Precise Mortgages Conveyancing Panel Reinstatement: Common Questions

  • What times frames are involved when applying to revert back onto the Precise Mortgages conveyancing panel?
  • Am I restricted as to the amount of times my practice can submit applications to be reinstated on the Precise Mortgages conveyancing panel?
  • Can we act for Precise Mortgages while the appeal for reinstatement on the Precise Mortgages panel is being reviewed? How do I know if our reinstatement application to the Precise Mortgages panel is accepted?
  • Is there a charge to be reinstated onto the Precise Mortgages conveyancing panel?
  • What happens if our Precise Mortgages panel reinstatement application is turned down and our client has a mortgage application 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.

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