Principality Building Society Conveyancing Panel : Questions and Answers from members of the public
Much to my surprise I have been told by my mortgage adviser that my property lawyer is not on the Principality Building Society Solicitor panel. What can I do to check?
The first thing you need to do is to contact your lawyer directly. It is reasonable to expect your lawyer to advise you what has happened. If they are not on the panel they may recommend you to a firm that is on the conveyancing panel for Principality Building Society.
My god-son is purchasing a new build apartment with a mortgage from Principality Building Society. His lawyer has advised him of a delay in completing the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The document is intended to provide information to the main parties engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Principality Building Society conveyancing panel as a standard part of the process, and to the surveyor when asked.
The Developer will be required to start the process by downloading the form and completing it.
The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Principality Building Society conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I am planning to acquire a flat and need a conveyancing solicitor in Liverpool who is on the Principality Building Society approved. Can you recommend a local solicitor?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for Principality Building Society . We don’t recommend any particular firm.
I am considering applying for a Principality Building Society mortgage for purchase of a newly converted (under development) with 60% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Principality Building Society?
In theory, you could use a solicitor that is not on Principality Building Society conveyancing panel, but Principality Building Society would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
Do conveyancing lawyers on the Principality Building Society conveyancing panel work on a no sale no fee basis?
On the whole there are 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 package
Hi, thinking about buying a house off my mate. Assuming we can agree a figure, what’s the best way to move forward? I plan to obtain a mortgage with Principality Building Society. Is it possible to avoid using solicitors to save on the costs? 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.
I was told two weeks ago that my mortgage has been agreed
to by Principality Building Society. Is it usual for Principality Building Society to only issue the offer once my
solicitor is approved on their conveyancing panel?
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Principality Building Society to deal with your lawyers application to be on the Principality Building Society conveyancing panel. There's no guarantee that your solicitors will be accepted.