Removal from the Principality Building Society and other lender panels: Why they do it and how to get reinstated
- Non-compliance with the Principality Building Society panel terms, 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 adopt.
- Breaches of Principality Building Society conveyancing panel requirements
- Principality Building Society may terminate membership of its conveyancing panel where a firm fails to provide any relevant information or provide incorrect information in its application form or in relation to any future requests for information.
- Persistent delays in registering security 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.
- Recurring delays in post completion requirements set by Principality Building Society
Frequently asked questions concerning Principality Building Society panel reinstatement
- Can we appeal if our application for reinstatement is refused?
- Is there a limit to the amount of occasions my law firm can apply to be reinstated on the Principality Building Society conveyancing panel?
- What happens if our Principality Building Society panel reinstatement application is rejected and the client of the firm has a mortgage offer with the Principality Building Society?
- Is there a cost to be reinstated onto the Principality Building Society conveyancing panel?
- Do any avenues remain open if our reinstatement panel submission with Principality Building Society is declined?
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.