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approved by Principality BS
Ready to buy a new home? Failing to check that a lawyer is on the Principality BS list of approved solicitors can put your transaction at risk of delay or failure.
Find an Approved Solicitor on the Principality Building Society Conveyancing Panel
Examples of recent questions relating to the Principality Building Society Solicitor Panel
My husband and I are buying a 2 bedroom apartment in Newcastle with a mortgage from Principality Building Society. We have a solicitor but Principality Building Society says she’s not on their "panel". We have to appoint one of the Principality Building Society panel firms or keep our solicitor and pay for one of their panel ones to represent them. We feel as though this is unjust; Can we not simply insist that Principality Building Society use our lawyer?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the Principality Building Society conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for Principality Building Society
My husband and I changing mortgage lender for our penthouse with Principality Building Society. We have a son 18 who lives with us. The solicitor on the Principality Building Society conveyancing panel has asked us to disclose anyone over the age of 17 other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the flat is forfeited by the lender. I have two concerns (1) Is this form unique to the Principality Building Society conveyancing panel as he never had to sign this form when we bought 3 years ago (2) Does our son by signing this giving up his rights to inherit the property?
First, rest assured that your Principality Building Society conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Principality Building Society .This is solely used to protect the Principality Building Society if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave.
It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Principality Building Society had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
I need to find a Principality Building Society panel solicitor in Stirling. Could you help me?
It is not clear why you need a Principality Building Society panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to Principality Building Society to find out which solicitors in Principality Building Society are on their panel. If you do find such a firm not listed please direct them to our site to list. At a fee of one pound per month it is not expensive to register on the site
The lawyers that I appointed last week on my purchase in Hendon has suddenly shut down. I chose them because I needed a solicitor on the Principality Building Society conveyancing panel and my preferred lawyer was not. I gave them a cheque for £150 in advance. What should be my next steps?
If you have an estate agent involved then let them know immediately so that they advise the vendors that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Principality Building Society conveyancing panel and notify the lender. If you have paid over any money it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to assist
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 new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use 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.
After much negotiation I have agreed a price on a house. My financial adviser suggested a solicitor I paid an upfront payment of 150. Soon after the conveyancers contacted me sheepishly admitting that they were not on the Principality Building Society conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Principality Building Society panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
My brother and I are remortgaging a flat in Hendon. Conveyancing solicitors in Hendon need to beretained. My fatherrecommended that we check that the conveyancing practitioner in Hendon is on the Principality Building Society solicitors panel. Surely I don't need to do this, do I?
Far from all Hendon conveyancing solicitors are on the Principality Building Society conveyancing panel. 5 people a month use our search tool to locate a Hendon conveyancing firm on the on the Principality Building Society solicitors pane.