Principality Building Society Conveyancing Lender Panel Compliance Tool

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COMPLETIONmonitor is an online pre- and post-completion checklist for residential conveyancing lawyers. Supported by the Council of Mortgage Lenders and PI insurers such as AmTrust. It is a unique risk mitigation tool.

This software is the only way you can prove to lender panels that you are, and can stay fully compliant with their instructions, with automatic updates on Principality Building Society’s changes. Notwithstanding that using the software is not a condition for acceptance on the Principality Building Society panel, demonstrating you can remain up to date with Principality Building Society’s Handbook requirements is an excellent support to your panel application and, more importantly, safeguard your firm’s panel status.

The system generates real-time alerts, automatically produces regulatory and CQS reports, and will enhance your firm's efficiency. It is also simply to use, cost-effective and, for many firms, leads to reduced PII premiums.

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 273 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 10.0 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.

To find out more about lender panel compliance,

Principality Building Society Conveyancing Panel Example Support Desk Enquires from members of the public

My Conveyancer is not on the Principality Building Society Solicitor Panel. Can I still continue with my family solicitor notwithstanding that they are not on the Principality Building Society panel of approved conveyancing solicitors?
You will need to have a conveyancer complete the legal work required when you take out a Principality Building Society mortgage to buy your property. They’ll carry out all the necessary legal checks on the property, make sure that you’re properly registered as the owner and ensure that all the necessary mortgage documentation is in place. You can instruct a conveyancing firm of your choice. However, if the firm selected is not a member of the Principality Building Society conveyancing panel additional costs will be incurred as separate legal representation will be required by Principality Building Society. Conveyancing panel applications can be submitted, so if your conveyancer has not previously applied for membership they can do so.
Can you clarify something for me?. For no fault of my lawyer but, my purchase conveyancing 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 10 days inc Day of week eg. Mon. My solicitor informs me that as she is on the Principality Building Society conveyancing panel she needs to redo the searches as they are no longer valid.
One of the many conditions 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.
What tools are available to find a local solicitor on the Principality Building Society conveyancing panel? I have a car and am prepared to travel up to 20 miles to meet the solicitor.
Feel free to make use of the find a conveyancing panel search on this page. Please choose the lender and your location and you will see a number of lawyer located nearest you. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the Principality Building Society solicitor panel.
My conveyancers in London have advised me that they can not locate my conveyancing file. To assist with my purchase I took out a mortgage with Principality Building Society. Is it case that being on the Principality Building Society conveyancing panel they need to have retained the file for a number of years?
It very much depends from lender to lender but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the Principality Building Society Conveyancing Panel Terms. It might be worth you contacting Principality Building Society directly.
When it comes to mortgage companies such as Principality Building Society do lawyers have to be pay a fee to be on the conveyancing panel?
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.
Can you point me to a directory of Principality Building Society panel solicitors on the Building Society Association’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.
Last month we had a mortgage agreed in principle with Principality Building Society. Solicitors have been instructed? 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 survey? Have you advised Principality Building Society as your lawyers details and checked that your lawyer is on the Principality Building Society conveyancing panel? It is not unusual for a mortgage offer to take a month to come through

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