Precise Mortgages Conveyancing Panel Information

UK Finance Designator: Precise Mortgages (Charter Court Financial Services Ltd)
Jurisdiction: England and Wales

The information on this page is designed to keep solicitors and licensed conveyancers abreast of latest requirements changes by Precise Mortgages and to assist in remaining on the Precise Mortgages Solicitors Panel.

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Precise Mortgages Solicitor Panel: Recently Asked Questions

Are Precise Mortgages Conveyancing panel solicitors duty bound to disclose incentives?
Precise Mortgages’s answer to this question can be found at section 6.4.4 of their CML Part 2 requirements

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I am on the Precise Mortgages conveyancing panel. Can I get an archived copy of a Precise Mortgages Part 2 from the CML?
The CML do not retain data sets of P2 conditions pre-December 2010. We would recommend you contact Precise Mortgages directly.
Do the Council of Mortgage Lenders intend to launch a searchable register search tool with a view to to identify law firms on the Precise Mortgages conveyancing panel?
Lexsure has not been advised of any intention on the part of the CML to develop such a tool.
Precise Mortgages has instructed me to represent them alone on a residential conveyancing matter , using the CML Lender’s Handbook. The borrower has his own solicitor (not on the Precise Mortgages conveyancing panel) How does this operate and are there different requirements from Precise Mortgages in this case?
The Council of Mortgage Lenders, together with Precise Mortgages and other members developed a standard set of instructions where a solicitor is acting for a lender such as Precise Mortgages alone in a residential conveyancing transaction. These obligations are contained at Part Three of the UK Finance Lenders’ Handbook and are to be read in conjunction with Parts 1 & 2. The CML have published an example requirements letter to the borrower’s lawyer for use by the lender's conveyancer, and sets out to the borrower's conveyancer, the documentary and information requirements of the lender's panel solicitor.
Do banks such as Precise Mortgages operate detached conveyancing panel for buy to let mortgages?
Most lenders do not operate a specific buy to let conveyancing panel but we are hearing about a few that do. We do not know what the position is with Precise Mortgages as at todays date. If you're about to receive instructions from a client on a buy to let purchase with a mortgage from Precise Mortgages we suggest that you call Precise Mortgages to check the position.
Our firm had their Precise Mortgages panel membership terminated but we have not yet been given an explanation yet. I am completing a CQS application questionnaire what details do I need to report?
In the circumstances please explain on the form what steps you have taken to discover the reasons behind cancellation of your Precise Mortgages panel membership. In particular please provide details if you have received communications from the lender. E.G. before termination of your panel membership did you receive any letters or calls from the lender putting you on notice?
Our practice is on the Precise Mortgages conveyancing panel and due to complete a purchase shortly. My papers do not include a Mortgage Deed for the client to sign. Who do I contact at Precise Mortgages to request substitute deeds?
You would be advised to communicate with Precise Mortgages to obtain standard documents. The The Council of Mortgage Lenders Handbook incorporates an explicit inquiry for lenders to enumerate who to contact to obtain standard documents. Please remember to disclose your Precise Mortgages solicitors panel number.

Recent Changes Include

# Date Assoc. Changes Related To
6.6.4 10/10/2016 CML
16.4.2 11/05/2015 CML
16.5.2 11/05/2015 CML
4.5a 11/05/2015 CML
6.14.1 05/12/2014 CML
5.5.1a 01/12/2014 CML
6.14.1a 01/12/2014 CML
6.14.4 01/12/2014 CML
5.1.1 16/06/2014 CML
6.6.4 16/06/2014 CML

Last update 08/09/2019

Please note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors

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