Bridging conveyancing

When completing Bridging Finance, both Precise and your customer will need a conveyancer to complete the necessary legal work associated with the transaction.

There are two conveyancing options available for your customers, which are detailed below.

1. Joint Representation

We work with conveyancers who have a thorough understanding of the speed and service requirements for Bridging Finance transactions.

To proceed with joint representation, your customer can choose a firm from our panel. We will instruct this firm to act on behalf of Precise and they will also act for your customer. The customer will be liable for these fees.

If your customer does not wish to instruct a conveyancer from our panel, they are under no obligation to do so. We can proceed with separate representation, allowing your customer to select their choice of conveyancer.

There may be some circumstances where joint representation may not be appropriate. Please check with your Business Development Manager if you have any questions.

2. Separate Representation

If your customer has chosen a conveyancer that is not on our panel we will each be separately represented.

To select this option – simply complete the relevant sections of the application form and tell us who the conveyancer is that your customer has chosen and instruct them accordingly. The customer can select a panel solicitor to act on their behalf, provided they meet our criteria of being SRA approved. All applications also require a firm from our panel to be selected to act for Precise. Please confirm the member of the panel that your customer has chosen to represent Precise.

Important information

The customer will be responsible for paying all the conveyancers fees, costs and disbursements including the fees of the conveyancer acting for us in connection with the Bridging Finance.

The customer should obtain a detailed quotation from both the conveyancer acting for them, and any conveyancer acting for us if we instruct a different firm to act for us.

Title Insurance

For applications up to and including £3m, title insurance may be applied to simplify the process by reducing the amount of due diligence required for the benefit of the Bank. Title insurance will be automatically applied to the customers application.

Our panel of solicitors and their services is set out in the table below.