Information for solicitors and conveyancers
This page contains supporting information for legal practitioners carrying out conveyancing work for Principality customers.
Below you can find details of the Society's requirements regarding investigation of title, registration and mortgage redemptions.
- Release of advance funds
- Certificate of title
- Return of advance funds
- Panel management
- Redemption requests
Release of advance
We will release advance monies via CHAPS transfer to your nominated bank account as stated on the Certificate of Title (COT). You can help us in this matter by ensuring that your bank details are always fully completed on the COT.
I need to change the bank details on the COT
If you find that your bank details on the COT are no longer valid, you can change them by sending a letter on headed paper and signed by a Solicitors Regulation Authority (SRA) approved manager, confirming the correct details.
You should email this to us at the following address: email@example.com.
Certificate of Title submission in good time for completion
We require at least 3 working days notice of the completion date to enable payment to be set up.
For cases where the reference start with ‘M’, you should complete the electronic version of the Certificate of Title (COT) in your online Smoove portal. If you do not have access to the portal, or if you need support with completing the electronic certificate of title, please contact our panel managers Smoove technology for assistance on 01844 390821 or LPMteam@hellosmoove.com.
For cases that are not submitted through the Smoove portal, the Certificate of Title can be emailed to firstname.lastname@example.org. You will then receive an automated response confirming receipt of the COT, which gives you reassurance that the funds will be sent in time for completion.
What if completion is delayed?
If completion is delayed, but will occur within two working days of receipt of funds you don’t need to inform us.
If completion is delayed beyond two working days of issue, please send the funds back electronically. Funds must be returned after two days regardless of the expiry date within the Mortgage offer.
Please note that completion must take place on or before the date the offer expires. If you require a further extension, please contact us via the following email address email@example.com with the following information:
- Estimated completion date
- Reason for extension
If you need to return the advance
To return funds by CHAPS please use the following details:
- Bank – Barclays
- Sort code – 201823
- Account – 70653497
It’s important that you quote the mortgage reference in your payment. Without this information, there may be a delay to your request, or your payment may be returned to you.
Requesting a redemption
You should send your redemption request to firstname.lastname@example.org.
If redemption is due within the next 5 working days please call us on the number given below.
Payments should be made by CHAPS or Direct Credit quoting the redemption reference number, which can be found on the redemption statement.
Our bank details are as follows:
- Bank - Barclays
- Sort code – 201823
- Account number - 10595071
It’s important that you quote the redemption reference in your payment. Without this information, there may be a delay to your request, or your payment may be returned to you.
Early Repayment Charges
Early Repayment Charges will only be waived if the following criteria are met:
- Simultaneous completion occurs
- The new loan amount is higher or equivalent to the loan amount on the redeeming mortgage
- The new loan has retained the mortgage product of the mortgage being redeemed
If you require further information please call us on the number given below.
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