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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.
Looking for information about your firm's panel status?How does my firm apply to be on the Principality Building Society Conveyancing Panel? How can my firm be reinstated onto the Principality Building Society Conveyancing Panel?
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Common questions asked concerning the Principality Building Society Conveyancing Panel
Is the fact that my conveyancer is not on the Principality Building Society Conveyancing panel that there is a problem with the standard of her conveyancing?
That would more than likely be a wrong assumption to make. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should simply call the firm and ask them why they are no longer on the approved list for Principality Building Society.
Please assist. My lawyer is not to blame but, my purchase conveyancing has been going on for months. The Local Authority Search from Principality Building Society was date stamped random date and we have agreed a date for me to move into the property on 10 days inc Day of week eg. Mon. My lawyer says that as she is on the Principality Building Society conveyancing panel she needs to reorder the searches as they are now out of date.
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 specifies that a local authority search be not more than half a year old. You should nevertheless ask your lawyer to check whether something called ‘search validation’ indemnity insurance is acceptable to Principality Building Society.
Having used your search tool I can't find the lawyer I was hoping to instruct as being on the Principality Building Society conveyancing panel. My lawyer has said that they are on the Principality Building Society approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the Principality Building Society conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the Principality Building Society solicitor panel.
I was due to move into my first house last Thursday. My lawyer’s firm is on the Principality Building Society solicitors panel but has moved offices in the past couple of months and had not informed Principality Building Society of their new address. Principality Building Society is now refusing to release my funds as the information from the solicitors isn't correct.
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.
I was thinking of purchasing my friend’s property. Assuming we can agree a figure, what’s the best way to move forward? I hope to get a mortgage with Principality Building Society. Is it possible to avoid using solicitors to save us both money? My dad reckons back in the day he did a lot of it himself, just went into the land registry office and providing them with the info they needed himself
If you are getting a mortgage with Principality Building Society involved you will need to appoint a solicitor on the Principality Building Society conveyancing panel. We would not encourage you to both use the same solicitors' firm. There are clear conflict of interest issues and it's not going to make a huge difference to the speed of the overall process. So as not to hold things us you should pass on your solicitors details to Principality Building Society. Feel free to use our search tool to look for a licensed conveyancer or solicitor on the Principality Building Society conveyancing panel.
My ex -wife’s name is on the Principality Building Society mortgage of my property but not on the land registry. The apartment was transferred to me on our divorce many years ago by way of a sealed court order. Does my ex still have a say on the sale even though the land registry showing the property in my name alone? Will I be required to take her name of the Principality Building Society mortgage in order to sell?
In terms of the Principality Building Society mortgage, it is unusual that your ex-wife’s name remains on the mortgage but not on the title. It is conceivable that this is an oversight on the part of your conveyancers to ensure that her name was removed or even an administrative error on the part of Principality Building Society in failing to update their data. In any event, it should cause difficulty providing her name no longer appears on the Land Registry title and you have a court order ordering that the property is transferred to you.
At last I have had an offer on an apartment accepted, but there is a chain. The vendors have offered on somewhere, but not been accepted yet, and have viewings of other properties in the pipeline. My conveyancing solicitor has been instructed. What should be my next step? When should I get the mortgage app going with Principality Building Society?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx £1k, then survey/valuation, conveyancing search costs, etc). First you should check that your solicitor is on the Principality Building Society conveyancing panel. As to the next stages this very much depends on the circumstances of your case, desire for this property and on the state of the market. In a hot mortgage some buyers would pally for the mortgage with Principality Building Society and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.