New conveyancing panel for new HSBC mortgage customers

Starting from Monday 9 January 2012 HBSC mortgage customers will have access to a new conveyancing panel.

HSBC have established a panel of solicitors and licensed conveyancers to provide its home buying customers with the required legal services. The new service will provide those HSBC mortgage customers, who decide to use one of the panel firms, with fixed fees to allow accurate budgeting, 24 hour updates and a managed service tracking the sale or the purchase.

Countrywide has been appointed by HSBC to manage the panel of solicitors and licensed conveyancers. If a customer elects to use a member of the panel, the bank will use the same firm. Customers using a member of the panel will also not be charged for any legal work undertaken for sales or purchases that fall through.

Peter Dockar, head of mortgages at HSBC, said: “Our new panel arrangement will spare customers the time and hassle of searching for a firm to do the important conveyancing work on their new property."

“Customers who choose to use a firm on the panel can benefit from agreed conveyancing costs as well as valuable guarantees should the seller pull out. We also believe this will provide additional protection for our customers and HSBC.”

HSBC mortgage customers will still be free to use their own solicitor, but HSBC will use a firm from the panel to undertake its own legal requirements. If a customer uses a firm outside the panel, the new process will separate the two pieces of legal work.