Precise mortgages

MovingForwards

@JoPea it is something you should be worried about as adverse lenders are even more strict about their panel solicitors. With mainstream lenders they used to just be able to apply to go on the panel, that may have changed as it's been a few years since I've had any involvement with conveyancing.

Ask your solicitor if they are on the panel for precise, if they say no, ask them if they can apply and wait to see if they get accepted.

Stop your solicitor doing any other work, you shouldn't have asked them to do anything without a mortgage offer. 

If they are on the panel or get accepted into the panel, great, but don't do any other work until the offer comes in (you don't want to be wasting money if something goes wrong).

If they won't or can't get on the panel you will need to change to a solicitor on their panel or pay a firm on their panel to deal with the mortgage side of the conveyancing. Leaving you with two firms (one for conveyancing and one for acting on behalf of precise), two lots of legal costs and trying to tie the two in together to get you to completion.

JoPea

@MovingForwards
thank you my adviser never mentioned this I have just emailed our solicitor fingers crossed they do! 

pepsi38

I know its still the aftermath of lockdown, but I applied through a broker 4 weeks ago for a remortgage of an HMO and have had  numerous requests for more info which I have supplied. Still have no idea if and when the valuer will be sent out to value the property!!

pepsi38

Sorry this is with Precise.

pepsi38

JoPea said:

@MovingForwards

I’ve just been reading online that precise only use certain Solitors my adviser is aware who we are using, but I can’t see them on precise website is this something we should be worried about as we have started our solicitor doing searches etc 

I had similar problems. My trusted solicitors (I've been with them for over 20 years) have 3 partners were not accepted. Precise insist on 4 partners. I took my Brokers' (L&C) advice and am using "Blacks Direct" (on Precise Panel). Quite reasonable charges. Still waiting for valuer to be instructed after more than 6 weeks since restrictions on home visits by valuers were relaxed. On Thursday I produced more info for them as requested by my case manager at L&C. Although agreed in principle I have no idea whether my remortgage will actually complete.