HSBC UK Bank Conveyancing Panel Compliance

HSBC UK Bank Conveyancing Lender Panel Compliance Tool

Lexsure’s COMPLETIONmonitor is web-based pre- and post-completion checklist for property lawyers. Supported by the CML and PI insurers. COMPLETIONmonitor is a unique risk management tool.

This system assists the way you can demonstrate to lender panels that you are, and can remain fully compliant with their requirements, with automatic updates on HSBC UK Bank’s changes. While using COMPLETIONmonitor is not a prerequisite for HSBC UK Bank , demonstrating you can remain up to date with HSBC UK Bank’s Handbook requirements is an excellent support to your application to their lender panel and, just as importantly, protect your firm’s panel standing.

The system generates real-time alerts, automatically produces SRA and CQS reports, and will improve your firm's efficiency. It is also user friendly, cost-effective and, for many firms, results in reduced PII premiums.

Find a Law Firm approved by HSBC UK Bank

Mortgage companies often change their requirements. The UK Finance Lenders’ Handbook requirements from HSBC UK Bank are not guidelines, they are instructions from a client. As with many clients, instructions can change - and they do change, over time:

A Timeline of Policy Changes

Since 2008, HSBC UK Bank has made 47 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 58.1 days. In total, 6% of the sections of P2 of the UK Finance Lenders’ Handbook for HSBC UK Bank have been changed since 15/12/2008.

To find out more about lender panel compliance,

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Recent Changes Include

#	Date	Assoc.	Changes Related To
5.8.1	10/05/2019	CML	Freehold and leasehold owner of multiple flats HSBC Bank plc panel lawyers clarification as to whether they accept security which comprises a building converted into not more than four flats where the borrower occupies one of those flats and the borrower or another flat owner also owns the freehold of the building and the other flats are subject to long leases?
1.11a	22/03/2019	CML	General Mortgage Instructions Contact details at HSBC Bank plc for conveyancing panel lawyers to obtain mortgage documentation
5.13.1	21/03/2019	CML	Balance of Monies Contact details at HSBC Bank plc for conveyancing panel lawyers where borrower is not providing balance of purchase price from funds/proposing to give second charge. Insolvency Act Indemnity Insurance Deed of Gift Indemnity Insurance
6.5.1	19/11/2018	CML	Vacant Possession on Completion Contact details at HSBC Bank plc for approved lawyers were vacant possession is not being given.
6.6.4	19/11/2018	CML	Houses in Multipe Occupation HSBC Bank plc panel conveyancer requirements where the property comes within the definition of a house in multiple occupation
14.2.2	30/10/2018	CML	Post Completion Conveyancing Which documents should approved lawyersfor HSBC Bank plc send the title deeds and documents following completion?
5.5.3b	22/10/2018	CML	Planning Permissions HSBC Bank plc approved lawyers clarification as to whether they need to send an original/copy of any planning permissions Lack of Planning Permission Indemnity Insurance
6.7.1	02/08/2018	CML	New Build Conveyancing HSBC Bank plc approved conveyancer requirements for New Build Conveyancing : Home Warranty Schemes
1.11a	10/07/2018	CML	General Mortgage Instructions Contact details at HSBC Bank plc for conveyancing panel lawyers to obtain mortgage documentation
6.7.1	10/07/2018	CML	New Build Conveyancing HSBC Bank plc panel conveyancer requirements for New Build Conveyancing : Home Warranty Schemes

Last update 19/07/2019

Frequently asked questions relating to the HSBC Conveyancing Panel from members of the public

My financial adviser has informed me that I have to pay HSBC fees if I use my own solicitor. How efficient are the HSBC conveyancing panel solicitors? I'm happy to use any solicitor in the country TBH as long as they're good and reasonably priced. Are there any HSBC conveyancers you'd recommend?

HSBC’s conveyancing panel is substantial so it would be advisable to check with the firms you are getting quotes from whether they are on it. You can search by postcode on the search tool on this site to find solicitors that HSBC will allow to act for them.

We are only a couple days away from an exchange and my parents having transferred the 10% deposit to my lawyer. I am now advised that as the deposit has not come from me my lawyer needs to disclose this to my lender HSBC. Apparently, being on the HSBC conveyancing panel and acting on their behalf he must inform HSBC if the balance of the mortgage advance is not just from me. I disclosed to the bank about my parent’s contribution when I applied for the mortgage so is it really necessary for this now to be an issue?

Your lawyer is obliged to check with HSBC to make sure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only report this to HSBC if you agree, failing which, your lawyer must cease to continue acting.

I need to find a HSBC panel solicitor in Belfast. Can you assist?

It is not clear why you need a HSBC panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to HSBC to find out which solicitors in HSBC are on their panel. If you do find such a firm not listed please direct them to our site to list. After all the cost is only one £1 a month

I am considering refinancing my flat does my lawyer have to be on the HSBC Conveyancing panel?

There is nothing to stop you using your solicitor but HSBC will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.

When it comes to lenders such as HSBC do solicitors have to be pay a fee to be on the conveyancing panel?

We are not aware of any lender fees to be on their panel although some do charge an administration charge to deal with the processing of the conveyancing panel application.

Is it the case that all conveyancing solicitors on the HSBC conveyancing panel work on a no move no charge basis?

In the main there are no requirements by lenders for their firms to operate on a no-sale-no-fee basis. There a small number of lenders who operate a very restricted conveyancing panel managed by a third party company (often termed in the industry as a ‘gatekeeper’). That third party may impose certain conditions such as non-sale-no fee on the panel firms. If you require this as a condition of your conveyancing then you should check with the conveyancing firm that this is part of their service

HSBC have agreed my mortgage in principle, my offer on house has been accepted, now what?

The estate agent will want to know who your solicitors are (make sure these solicitors are on the lenders panel). Call up HSBC or your broker and complete any relevant paperwork. HSBC will tell you what documents they want. HSBC will instruct a valuer. The valuer will get in touch with the estate agent or seller to book an appointment. Once conducted (assuming no problems) it takes about week to get a mortgage offer. HSBC will issue the offer to you and your lawyer. The transaction will then take it’s course according the nature and complexity of the conveyancing.