Find an Approved Solicitor on the HSBC Bank plc
Common questions asked concerning the HSBC Conveyancing Panel
Is the fact that my solicitor is not identified on the HSBC Conveyancing panel that there is a problem with the quality of his work?
That would more than likely be a wrong assumption to make. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The top 3 reasons are as follows: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should simply call the firm and ask them why they are no longer on the approved list for HSBC.
My husband and I changing mortgage lender for our maisonette with HSBC. We have a son approaching twenty who lives with us. The solicitor on the HSBC conveyancing panel has asked us to disclose any adults other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the property is forfeited by the lender. I have a couple of concerns (1) Is this document specific to the HSBC conveyancing panel as he never had to sign this form when we purchased 4 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to HSBC .This is solely used to protect the HSBC if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave.
It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of HSBC had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
I note that you have a search directory listing firms on the HSBC conveyancing panel. Do firms pay you a referral fee if I appoint them for my own conveyancing?
We are a listing service only for law firms wishing to communicate if they are on the HSBC conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
I was expecting to move into my flat yesterday. My solicitor is on the HSBC conveyancing panel but has changed address 8 weeks ago and had not informed HSBC of their new address. HSBC has locked down the release of mortgage funds until such time as their systems are up to date with the correct details.
This is a rare situation indeed. Most lender Terms of Conveyancing Panel Appointment specifically oblige the solicitor to inform the lender of an address change. Your solicitor needs to treat this with the utmost urgency. Do speak with or register your concern with the senior partner (assuming he or she is not your direct lawyer). Most lenders would be reasonable in this situation and expedite the resolution of this issue. It may be prudent to enlist the help of your local HSBC branch or your mortgage broker to see if they can help.
Are all solicitor firms on the HSBC conveyancing panel overseen by the SRA?
As a firm of solicitors, in order to be on the HSBC conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
We are getting a further advance on our mortgage from HSBC as we wish to carry out alterations or improvements our home. Do we need to appoint a solicitor on the HSBC conveyancing panel to deal with the legals?
HSBC would not normally appoint a member of their conveyancing panel to deal with such a matter. If they did require any legal work then you would need to ensure that such a lawyer was on the HSBC list
I have today made my last payment due on mortgage with HSBC. I assume I don't need a solicitor on the HSBC panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your HSBC mortgage they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the HSBC mortgage from the register. HSBC,and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
but are not moving to another property
where the HSBC has sent the Land Registry the discharge electronically, and
the HSBC has instructed the Land Registry to do so
The Land Registry will send you a letter confirming that your HSBC mortgage has been paid off.