Removal from the Principality Building Society and other lender panels: Why they do it and how to get reinstated

  • Failure to reapply to be on the Principality Building Society convincing panel
  • Principality Building Society may terminate membership of its conveyancing panel where a firm provides false answers in its application form or in relation to any future requests for information.
  • Significant non-compliance with post completion requirements set by Principality Building Society
  • Failure to act in accordance with the Principality Building Society panel requirements, the written instructions that Principality Building Society provide and the UK Finance Lenders’ Handbook or any alternative set of standard instructions to which Principality Building Society may subsequently subscribe.
  • Recurring delays in registering a charge on behalf of Principality Building Society Delays or failure to register the Principality Building Society charge may result in referral to external lawyers of Principality Building Society to complete outstanding requirements.

Principality Building Society panel reinstatement: Five Common Questions

  • Does the COLP in my firm need to complete the reinstatement application to the Principality Building Society panel ?
  • Is there a charge to revert back onto the Principality Building Society conveyancing panel?
  • Is there a limit to the amount of occasions my practice can apply to get back on the Principality Building Society conveyancing panel?
  • Can you outline the application protocol to be reinstated onto the Principality Building Society conveyancing panel?
  • What times frames are involved when applying to be reinstated onto the Principality Building Society conveyancing panel?

Top Tip: The best way to avoid the hassle of seeking Principality Building Society panel reinstatement is to ensure that your firm is not removed off of the Principality Building Society conveyancing panel in the first place.

Note: Subject to certain conditions Lexsure’s experts or consultants can assist in providing you with guidance for reinstatement onto the Principality Building Society conveyancing panel but under no circumstances will Lexsure (or the Conveycentric Team) submit an application to Principality Building Society directly or via their preferred panel manager. Any reinstatement application will have to be made by your firm. For the avoidance of doubt, Lexsure (or the Conveycentric Team) are in no way involved in managing the Principality Building Society conveyancing panel.

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