Find an Approved Solicitor on the HSBC Bank plc
Conveyancing Panel
Examples of recent questions relating to the HSBC Solicitor Panel
My husband and I are novices when it comes to buying a property. Within the last couple of days our conveyancer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. HSBC have this morning contacted us to inform me that they have now hit a problem as our conveyancer is not on their approved list of lawyers. What do we do from here?
When purchasing a property with the benefit of a mortgage it is usual for the purchaser's solicitors to also act for the purchaser's lender.
In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme.
Your solicitors should contact HSBC and see if they can apply for membership of the HSBC conveyancing panel, but if that is not viable HSBC will instruct their own lawyers to represent them. You don't have to instruct a firm on the HSBC conveyancing panel as you are at liberty to use your preferred lawyers, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
Our son is buying a house that has just been built with a mortgage from HSBC. His solicitor has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The document is intended to provide information to the main parties involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the HSBC conveyancing panel as a standard part of the process, and to the surveyor when asked.
The Developer will be required to start the process by downloading the form and completing it.
The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the HSBC conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Do I need to have a meeting at the offices of the HSBC conveyancing panel solicitor to sign the legal charge? If so, I will appoint a lawyer who conducts conveyancing in Liverpool
so that I can attend their offices if required.
Most conveyancing panel lawyers for HSBC undertake all of the work via the post, internet or over the phone. This means that they can undertake your Conveyancing Transaction no matter where you live in England or Wales. However you should check if you can still book an appointment to go into appointed conveyancing lawyer if you prefer.
We're in London, First time buyers buying with a mortgage (lender is HSBC , but our solicitor is on the HSBC conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the HSBC conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a time-frame for your conveyancing due to third parties outside of our control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain
I had instructed online conveyancers located in Cardiff who are on the HSBC solicitor panel. They have just invoiced me a separate fee of £135 for the legal aspects of the HSBC mortgage. Is this a supplemental conveyancing fee specified by HSBC?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitors can charge a fee for this. This fee is not set by HSBC but by your lawyers. Some firms on the HSBC will charge an ‘acting for lender’ fee but plenty of firms include it on their overall fee.
My existing mortgage is with HSBC. My uncle retired last week and wants to pay off my mortgage. After HSBC is paid, I want to transfer the property to my mother's name; How long does the process take? Do we need two separate solicitors on the HSBC conveyancing panel? I do not intend to live at the property once the HSBC mortgage is discharged.
Although you do need to retain the services of a lawyer they dont
need to be on the HSBC panel.
You will need a solicitor to draw up the transfer and
to deal with the Land Registry formalities. The only thing you need to
consider is that by selling at an undervalue so ask your lawyer about
the implications. There could be an inheritance tax issue if you die
within 7 years of this. As the property is your main residence you need
not pay CGT but you should speak with your accountants in any event.
I can not work out if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date . I have called HSBC on various occasions and told it wasn't a problem and they would lend. My solicitor - who is on the HSBC conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. Who do I believe?
Your lawyer has to follow the CML Handbook Part 2 requirements for HSBC. Unless your lawyer obtains specific confirmation in writing that HSBC will go ahead your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask HSBC to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.