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Principality Building Society Conveyancing Lender Panel Compliance Tool

Looking for information about your firm's panel status?

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How can my firm apply to be on the Principality Building Society Conveyancing Panel?
Check your firm’s panel Status
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How can my firm be reinstated onto the Principality Building Society Conveyancing Panel?
Check your firm’s panel Status

COMPLETIONmonitor is web-based pre- and post-completion checklist for residential conveyancing lawyers. It is supported by PI insurers such as AmTrust. It is a unique risk mitigation tool.

This system assists the way you can demonstrate to lender panels that you are, and can remain fully compliant with their instructions, with automatic updates on Principality Building Society’s changes. Even though utilising this technology is not a condition for acceptance on the Principality Building Society panel, demonstrating you can stay up to date with Principality Building Society’s Handbook requirements is an excellent support to your panel application and, more importantly, protect your firm’s panel standing.

COMPLETIONmonitor creates real-time alerts, automatically produces COLP and CQS reports, and will increase your firm's efficiency. In addition it is simply to use, cost-effective and, for some firms, leads to reduced PII premiums.

Find a Law Firm approved by Principality Building Society

Mortgage companies often change their requirements. The UK Finance Lenders’ Handbook requirements from Principality Building Society are not guidelines, they are instructions from a client. As with many clients, instructions can change - and they do change, frequently:

A Timeline of Policy Changes


Since 2008, Principality Building Society has made 283 revisions or additions to sections of their version of the UK Finance Handbook.
That equates to a section change every 9.6 days. In total, 64% of the sections of P2 of the UK Finance Lenders’ Handbook for Principality Building Society have been changed since 15/12/2008.

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Q and A’s regarding the Principality Building Society Solicitor Panel from members of the public

Am I correct in assuming that the fact that my conveyancer is not identified on the Principality Building Society Conveyancing panel that there is a problem with the quality of his conveyancing?
It would not be wise to jump to that conclusion. 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 top 3 reasons are as follows: (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.
Can you help?. For no fault of my lawyer but, the conveyancing for my house purchase has been going on for months. The Local Authority Search from Principality Building Society was issued random date and we have agreed a date for me to move into the property on 6 months + 3. My lawyer has advised that as she is on the Principality Building Society conveyancing panel she needs to reorder the searches as they are no longer valid.
A precondition to being on the Principality Building Society approved panel is to comply with the CML Handbook Part 2 obligations (last updated for this lender on Principality Building Society)which states that a local authority search be not more than 6 months old. You should nevertheless ask your lawyer to check whether something called ‘search validation’ indemnity insurance is acceptable to Principality Building Society.
Is it necessary during the course of the conveyancing process to pop into the offices of the Principality Building Society conveyancing panel solicitor to execute the legal charge? If so, I will choose one who does conveyancing in Newcastle so that I can attend their offices if necessary.
Most conveyancing panel lawyers for Principality Building Society undertake all of the work via the post, internet or over the phone. This means that they can undertake your Conveyancing Transaction no matter where you live in England or Wales. However you should check if you can still book an appointment to go into appointed conveyancing lawyer if you prefer.
I am selling my house. Does my solicitor have to be on the Principality Building Society conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Principality Building Society conveyancing panel they can still act for you on your sale. it might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
Are all Conveyancing Quality Solicitors on the Principality Building Society conveyancing panel?
Some major banks and building societies now use the accreditation scheme as the starting point for Panel approval such as HSBC and Santander. The Law Society’s CQS accreditation however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to remain on their panels.
When it comes to lenders such as Principality Building Society do solicitors have to be pay a fee to be on the list of approved solicitors?
We are not aware of any lender fees to be on their panel although some do charge an administration charge to deal with the processing of the conveyancing panel application.
I am buying a property where the roof has a solar panel. Principality Building Society have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is Principality Building Society your lawyer must to check the Principality Building Society conveyancing instructions contained in the Part of CML Handbook for Principality Building Society . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to Principality Building Society where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. The CML are developing guidance for Northern Ireland and Scotland.

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