Q and A’s regarding the Principality Building Society Conveyancing Panel from members of the public
How easy is it to change a solicitor as I need to find one who is on the Principality Building Society conveyancing panel. 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.
Can you help?. My lawyer is not to blame but, the conveyancing for my house purchase 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 6. My lawyer says that as she is on the Principality Building Society conveyancing panel she needs to reorder the searches as they are no longer acceptable to the lender.
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 6 months old. You should nevertheless ask your lawyer to check whether something called ‘search validation’ indemnity insurance is acceptable to Principality Building Society.
I am buying a house and require a conveyancing solicitor in London who is on the Principality Building Society approved. Could you point me in the right direction as regards a 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 was supposed to complete on my flat two days ago. 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 advised Principality Building Society of their new address. Principality Building Society has locked down the release of mortgage funds until such time as their systems are up to date with the correct details.
This is a rare situation indeed. The majority of 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 help.
I am about to exchange contracts on a purchase with a mortgage from Principality Building Society. The report from my solicitor mentions that Principality Building Society could withdraw their offer before completion. Is this right?
Lenders such as Principality Building Society can revoke their mortgage offer although this is unusual. If Principality Building Society withdraw their offer they may or may not inform you or the lawyer as to their reasoning. There are many potential reasons but here are 5 examples:
- Principality Building Society may amend or withdraw an offer if the Principality Building Society conveyancing panel solicitor is unable to confirm compliance with any of the conditions of the mortgage offer or if any of the terms of the mortgage offer cannot be satisfied
- Amendments if purchase price adjusted and the loan to value limits exceeded by this. Please note that Principality Building Society conveyancing panel solicitors would be obliged to notify Principality Building Society of a change in the price of the property.
- Situations where information provided by the borrower that enabled the lender to make a lending decision is fraudulent, incorrect or misleading.
- Where the sale is not at arms length for value to unconnected persons
- Where the Lender’s right to possession is fettered in some way
I have decided to exercise my right to buy my property off the council. I have a mortgage offer with Principality Building Society. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event if you are getting a mortgage with Principality Building Society you will need to appoint a solicitor on the Principality Building Society conveyancing panel.
On the whole I have been dissatisfied with the level or service received from my lawyer. Is there a Principality Building Society conveyancing panel complaints department or do I complain directly to the law firm?
Complaining to Principality Building Society about their conveyancing panel is unlikely to yield much of a response. All solicitors and conveyancer must have a complaints procedure. Usually one can find this information from the solicitor’s or conveyancer’s website or ask at their office. They must tell you about it if you ask.
The Legal Ombudsman will make sure that your complaint is addressed by the solicitor. It can also advise you how to complain.
If a licensed conveyancer does not have a complaints procedure or will not tell you about it, contact the Council for Licensed Conveyancers (CLC), which will make sure that your complaint is properly dealt with by the conveyancer. Please see below for more information.
