Principality Building Society Conveyancing Panel Information

The information on this page is designed to keep solicitors and licensed conveyancers abreast of latest requirements changes by Principality Building Society and to assist in remaining on the Principality Building Society Solicitors Panel.

Principality Building Society Conveyancing Panel: Recently Asked Questions

Can a practice make a complaint to the CML about being excluded from the Principality Building Society conveyancing panel?
The Council of Mortgage Lenders is not a regulator and therefore cannot advise on grievances against lenders. You can of course contact Lexsure to see if we can help.

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Does the fact that my practice receives LENDERmonitor Alerts assist in my application to join the Principality Building Society solicitor panel?
The criteria to join the Principality Building Society conveyancing panel is likely to be fairly detailed and is unlikely to include signing up to LENDERmonitor alerts.
Why are Estate Agents using search tools to check if lawyers are on a lenders conveyancing panel?
The fact of the matter is that estate agents are feeling the pain if their clients start out on the conveyancing process using a conveyancer who is not on the panel with the purchaser’s chosen lender. Many conveyancing firms are only discovering when they begin working on a case that they are no longer able to work with that lender. Given the inevitable resultant delays in the transaction the chances of an abortive deal increases dramatically. in the circumstances there is understandable anguish on the part of the estate agent as a result of the lost time should the client have to change solicitors .
A long standing client of my firm is looking to purchase a detached house for £800,000 in London with a mortgage over GBP 450,000. I am on the Principality Building Society conveyancing panel but do Principality Building Society have a separate approved panel when the advance is above 400,000?
We only know of a couple of lenders that operate a separate conveyancing panel where the mortgage advance is over a certain level. You should nevertheless check directly with Principality Building Society. At one stage HSBC would only allow Sole practitioners to act for them where the mortgage was below £150,000. We are not sure if HSBC still operate such a condition. In your case it is best to check with Principality Building Society
My practice have never been on the Principality Building Society conveyancing panel as well other lenders. My clients, who have applied for a mortgage with Principality Building Society would still like to instruct me even though I am not on the Principality Building Society panel. Am I doing anything wrong is suggesting to my client that they use a firm down the road to act for Principality Building Society on mortgage aspect of the conveyancing?
Please tread carefully here as what you are intending may not be acceptable to the lender. It is possible that you (as a non-panel firm) or the mortgage applicant are not entitled instruct a panel firm of your choice. An increasing amount of lenders are making it clear to their panel firms that where a non-panel member firm is instructed by one of their mortgage applicants, the lender will appoint a panel firm to carry out its instructions and to liaise with the borrower's conveyancing firm. You also need to make the costs implications and potential for delay very clear to your client.
Lockton’s PII renewal form questions if my firm had been removed off any bank panels in the last year. I just discovered that the firm is no longer on the Principality Building Society solicitor panel? Will that impact my insurance?
The best placed professionals to answer this question are your insurance brokers. The chances are that on the basis that you have not been removed for fraud or negligence reasons that there will be little or no impact. The main reason why a firm would be removed off of a lender panel is due to low volume of conveyancing cases although there may be a number of criteria for Principality Building Society solicitor panel membership. Please remember that it is always important that you complete your insurance forms accurately.
Our practice is on the Principality Building Society conveyancing panel and scheduled to complete a remortgage within the next few weeks. My papers do not include a Legal Charge for the client to sign. Who do I contact at Principality Building Society to obtain duplicate documents?
You would be advised to communicate with Principality Building Society to obtain standard documents. The The Council of Mortgage Lenders Handbook includes an express section for lenders to establish who to contact to obtain standard documents. Principality Building Society in their Part 2’s state:
You will need to quote your Principality Building Society conveyancing panel reference.

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Average number of days to register title including a charge in favour of Principality Building Society
This information relates to purchase only and not remortgages.
YearDays*
2024 [no data]
2023 48.9
2022 [no data]
2021 [no data]
2020 [no data]
2019 51.1
* Data aggregated from sources including COMPLETIONmonitor