Removal from the Principality Building Society and other lender panels: Why they do it and how to get reinstated
- Your firm no longer meets the criteria to remain on the Principality Building Society conveyancing panel
- Breaches of Principality Building Society conveyancing panel Terms and Conditions
- Failure to act in accordance with the Principality Building Society panel terms, 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 adopt.
- 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.
- Persistent non-compliance with post completion requirements on behalf of Principality Building Society
Answers to Frequently asked questions concerning Principality Building Society panel reinstatement
- What times frames are involved when applying to revert back onto the Principality Building Society conveyancing panel?
- Can you outline the application procedures to revert back onto the Principality Building Society conveyancing panel?
- What will happen if our Principality Building Society panel reinstatement application is declined and our client has a mortgage offer with the Principality Building Society?
- To what extent is my firm permanently excluded if our reinstatement panel submission with Principality Building Society is turned down?
- Can this firm act for Principality Building Society while the application for reinstatement on the Principality Building Society panel is being assessed? How do I discover if our reinstatement application to the Principality Building Society panel is approved?
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.