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Ready to buy a new home? Failing to check that a lawyer is on the HSBC list of approved solicitors can put your transaction at risk of delay or failure.
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How does my firm apply to be on the HSBC Bank plc Conveyancing Panel? How can my firm be reinstated onto the HSBC Bank plc Conveyancing Panel?Find an Approved Solicitor on the HSBC Bank plc Conveyancing Panel
FAQs for the HSBC Solicitor Panel
My IFA has has requested my law firm’s panel member for the HSBC conveyancing panel. How do I find this out. I have e-mailed my local HSBC branch but they cant find it on their system.
You are best placed to get this information from your conveyancing lawyer. They should have a central record lender panel numbers including the HSBC panel reference.
We are due to exchange on the purchase a house but as a result of damage from the recent storms I have agreed compensation from the seller of £3k approx by way of a reduction in the price. This was going to be dealt with as part of the conveyancing process but my mortgage company HSBC will not agree to this. Why was HSBC even consulted?
Your lawyer being on the HSBC conveyancing panel is duty bound to inform HSBC of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to HSBC then they would have to discontinue acting for you and HSBC.
Do banks and building societies provide you with an approved list of solicitors? How do you know who is on the HSBC conveyancing panel?
The firms themselves provide us confirmation that they are on the HSBC conveyancing panel as opposed to being supplied with a list from HSBC directly.
Please explain the implications if my lawyer’s firm is suspended from the HSBC Solicitor panel prior to completion?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have ti instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by the regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
I currently have a mortgage with with HSBC. Conveyancing has been completed 12 months ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform HSBC?
HSBC must be informed of your intention before letting out your property as this is likely to be a breach of HSBC’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact HSBC directly. You need not do this via a HSBC conveyancing panel firm.
Planning on purchasing a flat with a mortgage with HSBC. I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the HSBC conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that they are on the HSBC conveyancing panel
I had an offer accepted on a house on the 17th February 2014, valuation was booked 3 days after, all came back fine. Property lawyer appointed, so the only thing outstanding was my mortgage offer. Having made daily calls to HSBC and chasing them on my offer I have now been told that my offer will not be issued unless the lawyer is on the HSBC conveyancing panel. Can the lender hold off the offer?
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for HSBC to deal with your lawyers application to be on the HSBC conveyancing panel. There's no guarantee that your solicitors will be accepted.
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Transfer of Equity for HSBCPlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors