Find a Law Firm
approved by Principality BS
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 Solicitor Panel Recently Asked Questions
The conveyancer my husband and I had intended to instruct on a remortgage said he would charge more if my lender is because of their unusual legal requirements. Will I regret using Principality Building Society? Any comments will be appreciated
Principality Building Society conveyancing requirements for their panel are no better or no more complicated than most lenders.
It is the case now the CML Handbook, the "bible" used by solicitors to establish lender requirements, is different for each lender.
It is not clear if your lawyer is on the Principality Building Society conveyancing panel. If they are not, this does add further risk of delay as Principality Building Society will appoint their own solicitors to look after their interest.
My solicitor has identified a difference when comparing the assumptions in Principality Building Society’s home valuation report and what is revealed within the conveyancing documents. My solicitor says that as he is on the Principality Building Society conveyancing panel he is obliged to check that the bank is happy with this discrepancy and is content go ahead. Is my lawyer’s approach appropriate?
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) which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
Whilst your website is a good idea there are many lawyers listed near London 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. We recommend that you speak to 3 or 4 lawyers listed before you make your choice..
I was supposed to complete on my flat last Friday. My solicitor is on the Principality Building Society solicitors panel but has moved offices 8 weeks ago and had not informed Principality Building Society of their new address. Principality Building Society has locked down the release of mortgage funds until such time as their systems are up to date with the correct details.
This is a rare situation indeed. Most lender Terms of Conveyancing Panel Appointment specifically oblige the solicitor to inform the lender of an address change. Your solicitor needs to treat this with the utmost urgency. Do speak with or register your concern with the senior partner (assuming he or she is not your direct lawyer). Most lenders would be reasonable in this situation and expedite the resolution of this issue. It may be prudent to enlist the help of your local Principality Building Society branch or your mortgage broker to see if they can assist.
Is the case that all CQS (Conveyancing Quality Scheme) solicitors on the Principality Building Society conveyancing panel?
A selection of lenders now use the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of conveyancing solicitors.
Are all conveyancing solicitors on the Principality Building Society conveyancing panel overseen by the SRA?
As a firm of solicitors, in order to be on the Principality Building Society conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
I recently had an offer accepted on a house. My mortgage broker pressured me to appoint their lawyers I paid an upfront payment of 150. Soon after the conveyancers contacted me sheepishly admitting that they were not on the Principality Building Society conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Principality Building Society panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.