Find an Approved Solicitor on the Principality Building Society
Examples of recent questions relating to the Principality Building Society Conveyancing Panel
My Conveyancer has never been on on the Principality Building Society Conveyancing Panel. Can I still continue with my family solicitor even though they are not on the Principality Building Society panel of approved conveyancing solicitors?
The most common options here are as follows:
- Carry on with your preferred lawyers but Principality Building Society will need to instruct a lawyer on the Principality Building Society conveyancing panel. This will result in additional cost and potential delay.
- Get a new solicitor to act in the purchase, obviously checking they are on the Principality Building Society conveyancing panel.
- Convince your lawyer to do everything within their powers to join the Principality Building Society conveyancing panel
My wife and I are refinancing our flat with Principality Building Society. We have a son 18 who lives with us. The solicitor on the Principality Building Society conveyancing panel has asked us to disclose anyone over the age of 17 other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the apartment is forfeited by the lender. I have two questions (1) Is this form unique to the Principality Building Society conveyancing panel as he never had to sign this form when we bought 5 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Principality Building Society .This is solely used to protect the Principality Building Society if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave.
It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Principality Building Society had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
Whilst your website is a good idea there are many lawyers listed near Middlesbrough on the Principality Building Society conveyancing panel. Can you recommend a specific firm on the Principality Building Society approved panel?
We are not in the business of recommending one firm above another as the right firm for you depends on where your priorities lie. For example you may require a local firm with local knowledge or you might be looking for the low cost conveyancing. Before you appoint your lawyer we advise you to speak to two or three of the firms listed to gain comfort as to which one is right for you..
My lawyers in Liverpool have advised me that no longer have my conveyancing file. To assist with my purchase I took out a mortgage with Principality Building Society. Is it case that being on the Principality Building Society conveyancing panel they need to have retained the file for a number of years?
Different lenders have different requirements but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the Principality Building Society Conveyancing Panel Terms. It might be worth you contacting Principality Building Society directly.
Do conveyancing solicitors on the Principality Building Society conveyancing panel work on a no sale no fee basis?
There is generally no requirements by lenders for their firms to operate on a no-sale-no-fee basis. There a small number of lenders who operate a very restricted conveyancing panel managed by a third party company (often termed in the industry as a ‘gatekeeper’). That third party may impose certain conditions such as non-sale-no fee on the panel firms. If you require this as a condition of your conveyancing then you should check with the conveyancing firm that this is part of their package
I previously instructed online solicitors located in Manchester who are on the Principality Building Society solicitor panel. They have just invoiced me a separate fee of £150 for the legal aspects of the Principality Building Society mortgage. Is this an additional conveyancing fee specified by Principality Building Society?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitors can charge a fee for this. This fee is not set by Principality Building Society but by your lawyers. Some firms on the Principality Building Society will charge an ‘acting for lender’ fee but plenty of firms include it on their overall fee.
The for formalities of my remortgage has taken place with a loan from Principality Building Society. Conveyancing was satisfactory but I would like to complain about Principality Building Society. Who do I contact should I wish to lodge a complaint?
All banks and building societies have complaints procedures. Your first port of call should be one of the Principality Building Society branches or the Customer Services Department at Principality Building Society head office. Ordinarily complaints to Principality Building Society are resolved very quickly. However if you are not satisfied that the matter is resolved you can write to the
Financial Ombudsman Service at South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.