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Ready to buy a new home? Failing to check that a lawyer is on the Principality BS list of approved solicitors can put your transaction at risk of delay or failure.
Find an Approved Solicitor on the Principality Building Society Conveyancing Panel
Principality Building Society Conveyancing Panel Recently Asked Questions
My property lawyer is not on the Principality Building Society Solicitor Panel. Is it possible for me to continue with my family solicitor even though they are excluded from the Principality Building Society approved list?
You will need to have a conveyancer complete the legal work required when you take out a Principality Building Society mortgage to buy your property. They’ll carry out all the necessary legal checks on the property, make sure that you’re properly registered as the owner and ensure that all the necessary mortgage documentation is in place. You can instruct a conveyancing firm of your choice. However, if the firm selected is not a member of the Principality Building Society conveyancing panel additional costs will be incurred as separate legal representation will be required by Principality Building Society. Conveyancing panel applications can be submitted, so if your conveyancer has not previously applied for membership they can do so.
We are getting closer to an exchange and my mum and dad having sent the 10% deposit to my lawyer. I am now advised that as the deposit has not come from me my lawyer needs to disclose this to my lender Principality Building Society. I am advised that, being on the Principality Building Society conveyancing panel and acting on their behalf he must inform Principality Building Society if the balance of the mortgage advance is coming from anyone other than me. I informed the bank about my parent’s contribution when I applied for the mortgage so is it really necessary for him to raise this?
Your lawyer is obliged to check with Principality Building Society to make sure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only report this to Principality Building Society if you agree, failing which, your lawyer must cease to continue acting.
I am looking to buy a house and need a conveyancing solicitor in London who is on the Principality Building Society conveyancing. Can you recommend a local solicitor?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for Principality Building Society . We don’t recommend any particular firm.
I am considering applying for a Principality Building Society mortgage for purchase of a new build (under development) with 65 per cent LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Principality Building Society?
There is nothing to stop you using your solicitor but Principality Building Society will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
We are getting a further advance on our mortgage from Principality Building Society as we wish to carry out a loft conversion to our home. Do we need to appoint a solicitor on the Principality Building Society conveyancing panel to deal with the legals?
Principality Building Society would not normally instruct firms on their conveyancing panel to deal with such a matter. If they did require any legal work then you would need to ensure that such a lawyer was on the Principality Building Society panel
We have agreed to purchase a house.One unusual aspect is that the roof has a solar panel. Principality Building Society have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As you are obtaining a mortgage with Principality Building Society your lawyer must to check the Principality Building Society conveyancing instructions contained in the Part of CML Handbook for Principality Building Society . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to Principality Building Society where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. The CML are developing guidance for Northern Ireland and Scotland.
I had an offer accepted on a property on the 17th January 2014, valuation was booked five days later, all came back fine. Conveyancer instructed, so all that was missing was my mortgage offer. Having made daily calls to Principality Building Society and chasing them on my offer I have now been told that my offer will not be issued unless the lawyer is on the Principality Building Society conveyancing panel. Can the lender hold off the offer?
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Principality Building Society to deal with your lawyers application to be on the Principality Building Society conveyancing panel. There's no guarantee that your solicitors will be accepted.