FAQs for the Principality Building Society Solicitor Panel from members of the public
I need to swap lawyers as my lawyer is not on the Principality Building Society panel of conveyancing solicitors. Is it practical to instruct different lawyers?
If you haven't yet instructed a solicitor to do anything for you and have just received quotes, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer you're considering.
My husband and I intend to remortgage our flat with Principality Building Society. We have a son approaching twenty who lives with us. The solicitor on the Principality Building Society conveyancing panel requested us to identify anyone over the age of 17 other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the flat is repossessed. I have a couple of questions (1) Is this document specific to the Principality Building Society conveyancing panel as he never had to sign this form when we remortgaged 3 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Principality Building Society .This is solely used to protect the Principality Building Society if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave.
It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Principality Building Society had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
I need to find a Principality Building Society panel solicitor in Inverness. Can you assist?
It is not clear why you need a Principality Building Society panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to Principality Building Society to find out which solicitors in Principality Building Society are on their panel. If you do find such a firm not listed please direct them to our site to list. After all the cost is only one £1 a month
We're in Liverpool, FTBs purchasing with a mortgage (lender is Principality Building Society , but our solicitor is on the Principality Building Society conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Principality Building Society conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a time-frame for your conveyancing due to third parties outside of our control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain
Is it the case that all conveyancing solicitors on the Principality Building Society conveyancing panel work on a no sale no fee basis?
There is generally no requirements by lenders for their firms to operate on a no-sale-no-fee basis. There a small number of lenders who operate a very restricted conveyancing panel managed by a third party company (often termed in the industry as a ‘gatekeeper’). That third party may impose certain conditions such as non-sale-no fee on the panel firms. If you require this as a condition of your conveyancing then you should check with the conveyancing firm that this is part of their service
Two weeks ago we had a mortgage agreed in principle with Principality Building Society. Solicitors have been chosen? How long does it take for Principality Building Society to send the offer to our conveyancer
Some lenders take longer than others. Have Principality Building Society conducted the survey? Have you advised Principality Building Society as your lawyers details and checked that your lawyer is on the Principality Building Society conveyancing panel? sometimes it can take as long as six weeks for a mortgage offer to be issued
I am due to exchange contracts on my apartment. I had a double glazing fitted in month 8 but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Principality Building Society are being a right pain. The solicitor who is on the Principality Building Society conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Principality Building Society are insisting on a building regulation certificate. Why do Principality Building Society have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Principality Building Society have referred the matter to their valuer. The reason why Principality Building Society may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing correctly and safely installed. It merely protects against enforcement action which is very unlikely anyway.
