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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

Lexsure’s COMPLETIONmonitor is an online pre- and post-completion checklist for property lawyers. It is supported by professional indemnity insurers. It is a unique risk mitigation tool.

This software optimises the way you can demonstrate to lender panels that you are, and can stay fully compliant with their requirements, with alerts on Principality Building Society’s changes. While using the software is not a condition for being on the Principality Building Society panel, demonstrating you can stay up to date with Principality Building Society’s Handbook requirements is a helpful support to your application to their lender panel and, just as importantly, safeguard your panel status.

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 a PII saving.

Find a Law Firm approved by Principality Building Society

Lenders frequently 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 284 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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Principality Building Society Conveyancing Panel Sample Enquires to our Call Center from members of the public

I have been advised by my broker that I have to pay Principality Building Society fees if I use my own solicitor. How good are the Principality Building Society conveyancing panel solicitors? I dont care which law firm I use provided that they are good and not exorbitantly priced. Are there any Principality Building Society conveyancers you'd recommend?
Principality Building Society’s conveyancing panel is pretty large so it would be advisable to check with the firms you are getting quotes from whether they are on it. You can search by postcode on the search tool on this site to find solicitors that Principality Building Society will allow to act for them.
My lawyer has uncovered a discrepancy between the assumptions in Principality Building Society’s valuation report and what is in the legal papers for the property. My lawyer informs me that as he is on the Principality Building Society conveyancing panel he needs to check that the bank is with this discrepancy and is content go ahead. Is my lawyer’s approach right?
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 do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
I note that you have a search directory identifying law firms on the Principality Building Society conveyancing panel. Do firms pay you a commission if I instruct them for my own house purchase?
We are a listing service only for law firms wishing to communicate if they are on the Principality Building Society conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
I was due to move into my flat last Thursday. My lawyer’s firm is on the Principality Building Society conveyancing panel but has changed address in the past couple of months and had not informed Principality Building Society of their new address. Principality Building Society is now refusing to release my funds as the information from the solicitors isn't correct.
This is a rare situation indeed. Most 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 assist.
Can you point me to a directory of Principality Building Society panel conveyancers on the Council of Mortgage Lender’s Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few lenders make their panel listings available online.
Two weeks ago we had a mortgage agreed in principle with Principality Building Society. Solicitors have been appointed? What is the average time that one could expect to receive a mortgage offer from Principality Building Society?
There is no definitive answer here. Have Principality Building Society completed the valuation? 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
At last I have had an offer on an apartment accepted, but there is a chain. The vendors have offered on somewhere, but not been accepted yet, and have viewings of other properties in the pipeline. My conveyancing solicitor has been instructed. What should be my next step? At what point should I appy for the mortgage with Principality Building Society?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx £1k, then survey/valuation, conveyancing search costs, etc). First you should check that your solicitor is on the Principality Building Society conveyancing panel. As to the next stages this very much depends on the circumstances of your case, desire for this property and on the state of the market. In a hot mortgage some buyers would pally for the mortgage with Principality Building Society and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.

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