Principality Building Society panel reinstatement guidance - Here to help

There are a number of explanations why a firm could be terminated from the Principality Building Society conveyancing panel. Here are a few:

  1. 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.
  2. Significant delays in post completion requirements set by Principality Building Society
  3. Your firm fails to meet the criteria to remain on the Principality Building Society conveyancing panel
  4. Significant 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.
  5. Failure to act in accordance with the Principality Building Society panel requirements, the written instructions that Principality Building Society give you and the UK Finance Lenders’ Handbook or any alternative set of standard instructions to which Principality Building Society may subsequently subscribe.

Principality Building Society panel reinstatement: Five Common Questions

  1. Who should complete the reinstatement application to the Principality Building Society panel ?
  2. Is the door firmly shut if my firm’s reinstatement panel submission with Principality Building Society is turned down?
  3. Can we act for Principality Building Society while the application for reinstatement on the Principality Building Society panel is being reviewed? How do I know if our reinstatement appeal to the Principality Building Society panel is accepted?
  4. How long does the application process take when applying to revert back onto the Principality Building Society conveyancing panel?
  5. What happens if our Principality Building Society panel reinstatement application is declined and the client of the firm has a mortgage offer with the Principality Building Society?

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 appointed 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.