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approved by HSBC
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
Is the fact that my conveyancer is not identified on the HSBC Conveyancing panel that there is a problem with the quality of her work?
It would not be wise to jump to that conclusion. 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 most common reasons for removal are: (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.
Can you clarify something for me?. My lawyer is not to blame but, my purchase conveyancing has been going on for months. The Local Authority Search from HSBC was issued random date and we have agreed a date for me to move into the property on 6 months + 3. My lawyer has advised that as she is on the HSBC conveyancing panel she needs to reorder the searches as they are no longer valid.
One of the many conditions to being on the HSBC approved panel is to comply with the CML Handbook Part 2 obligations (last updated for this lender on HSBC)which specifies that a local authority search be not more than half a year old. You should nevertheless ask your lawyer to check whether something called ‘search validation’ indemnity insurance is acceptable to HSBC.
How do I search for a local solicitor on the HSBC conveyancing panel? I have a car and am prepared to travel up to 10 kilometers to meet the lawyer.
You can use the find a conveyancing panel search on this website. Please choose the lender and your location and you will see a number of lawyer located nearest you. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the HSBC solicitor panel.
I am selling my house. Does my solicitor have to be on the HSBC conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the HSBC conveyancing panel they can still act for you on your sale. it might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
I have decided to exercise my right to buy my property off the council. I have a mortgage offer with HSBC. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event if you are getting a mortgage with HSBC you will need to appoint a solicitor on the HSBC conveyancing panel.
The mortgage over my property is with HSBC. Conveyancing has been completed 12 months ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform HSBC?
HSBC must be informed of your intention in advance of renting your property as this is likely to be a breach of HSBC’s mortgage conditions. It may be that HSBC will allow you to rent 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. It should not be necessary to do this via a HSBC conveyancing panel lawyer.
After much negotiation I have agreed a price on an apartment. My mortgage broker suggested a solicitor I paid an upfront payment of 200. Soon after the conveyancers contacted me to say that they were not on the HSBC conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the HSBC panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
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Transfer of Equity for HSBCPlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors