Find an Approved Solicitor on the Principality Building Society
Common questions asked concerning the Principality Building Society Solicitor Panel
On what basis would a firm of solicitors be removed from the Principality Building Society solicitor panel?
A survey recently commissioned by the Solicitors Regulatory Authority found that three quarters of law firms had been removed from a lender panel. The most common reasons in order are :
- Low volume of transactions
- the lawyer is a sole practitioner
- as part of the HSBC panel reduction
- regulatory contact by SRA
- accidental removal. We are not aware of the specific or common criteria for removal by Principality Building Society
I am purchasing a brand new duplex and my lawyer is informing me that she is duty bound to reveal incentives from the builder as her practice is on the Principality Building Society conveyancing panel. I am on a tight deadline to exchange and my preference is not to delay matters. is my lawyer taking the correct approach?
You should not exchange unless you have advised to do so by your lawyer. A precondition to being on the Principality Building Society approved panel is to comply with the CML Handbook requirements (last updated for this lender on Principality Building Society). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I note that you have a post code search directory listing solicitors on the Principality Building Society conveyancing panel. Do firms pay you a referral fee if I appoint them for my conveyancing?
We are a listing service only for law firms wishing to communicate if they are on the Principality Building Society conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
I am buying a terraced house and getting a mortgage with Principality Building Society. How practical is it for me to do the conveyancing?
Leaving aside the complexities and merits of DIY conveyancing you will have to appoint a solicitor on the Principality Building Society conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to made in you doing to conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on the Principality Building Society conveyancing panel in your location.
Can I register a complaint to Principality Building Society about the lawyers being on the Principality Building Society conveyancing panel?
Complaining to Principality Building Society about their conveyancing panel is unlikely to yield much of a response. Every solicitor firm and conveyancer must have a complaints procedure. You can get information from the solicitor’s or conveyancer’s website or ask at their office. They must tell you about it if you ask.
The Legal Ombudsman will make sure that your complaint is addressed by the solicitor. It can also advise you how to complain.
If a licensed conveyancer does not have a complaints procedure or will not tell you about it, contact the Council for Licensed Conveyancers (CLC), which will make sure that your complaint is properly dealt with by the conveyancer. Please see below for more information.
I can not work out if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date . I have telephoned Principality Building Society on various occasions and was told they are content with the situation and they would lend. My solicitor - who is on the Principality Building Society conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. Who do I believe?
As long as the conveyancer is on the Principality Building Society panel she or he must comply with the CML Handbook requirements for Principality Building Society. Unless your lawyer obtains specific confirmation in writing that Principality Building Society will go ahead your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask Principality Building Society to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.
My brother and I are buying a 1st floor apartment in Hendon. Conveyancing solicitors in Hendon need to beretained. My colleaguerecommended that we double-check that the conveyancer in Hendon is on the Principality Building Society approved list of lawyers. Is this right?
Far from all Hendon conveyancing solicitors are on the Principality Building Society conveyancing panel. 8 people a month use our search tool to find a Hendon conveyancing firm
on the on the Principality Building Society list of approved conveyancing firms.