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

  • Persistent delays in post completion requirements set by Precise Mortgages
  • 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.
  • Persistent delays in registering security 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.
  • Your law firm no longer meets the criteria to remain on the Precise Mortgages conveyancing panel
  • Non-compliance with the Precise Mortgages panel requirements, 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 subscribe.

Top questions concerning Precise Mortgages panel reinstatement

  • What are the next steps open to me if our Precise Mortgages panel reinstatement application is refused and the client of the firm has a mortgage application with the Precise Mortgages?
  • Please can you set out the application procedures to revert back onto the Precise Mortgages conveyancing panel?
  • What are our options if my firm’s reinstatement panel submission with Precise Mortgages is turned down?
  • How long does the application process take when applying to be reinstated onto the Precise Mortgages conveyancing panel?
  • Is there a cost to revert back onto the Precise Mortgages conveyancing panel?

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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