HSBC Conveyancing Lender Panel Compliance Tool

COMPLETIONmonitor is web-based pre- and post-completion checklist for residential conveyancing lawyers. Supported by the Council of Mortgage Lenders and PI insurers such as AmTrust. It is a unique risk management tool.

This software is the only way you can demonstrate to lender panels that you are, and can stay fully compliant with their instructions, with automatic updates on HSBC’s changes. Even though utilising COMPLETIONmonitor is not a condition for acceptance on the HSBC panel, demonstrating you can remain up to date with HSBC’s Handbook requirements is an excellent support to your application to their lender panel and, more importantly, protect your panel status.

COMPLETIONmonitor generates real-time alerts, automatically produces COLP and CQS reports, and will enhance your firm's efficiency. It is also user friendly, cost-effective and, for many firms, leads to a PII saving.

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Banks and building societies often vary their requirements. The UK Finance Lenders’ Handbook requirements from HSBC are not guidelines, they are instructions from a client. As with many clients, instructions can change - and they do change, frequently:

A Timeline of Policy Changes

Since 2008, HSBC has made 687 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 4.0 days. In total, 47% of the sections of P2 of the UK Finance Lenders’ Handbook for HSBC have been changed since 15/12/2008.

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Recent Changes Include

# Date Assoc. Changes Related To
6.6.1 19/11/2018 CML
5.5.3b 22/10/2018 CML Lack of Planning Permission Indemnity Insurance
10.7 02/07/2018 CML
7.3 02/07/2018 CML
7.3 29/06/2018 CML
14.1.5 29/06/2018 CML
5.13.1 01/11/2017 CML Insolvency Act Indemnity Insurance Deed of Gift Indemnity Insurance
4.5b 26/10/2017 CML
1.11a 12/10/2017 CML
1.11a 10/07/2017 CML

Last update 09/01/2019

FAQs : The HSBC Conveyancing Panel from members of the public

I am obtaining a offer of a mortgage from HSBC. I hope to enlist the help of a Licensed Conveyancer. Does the HSBC Solicitor panel include Licensed Conveyancers
HSBC’s conveyancing panel is, like many other lenders represented by the Council or Mortgage Lenders or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
Please help. My lawyer is assuring me that he has to order a Local Authority search because the firm are on the HSBC conveyancing panel. Do I not have a choice here?
Unfortunately both you and your lawyer have little choice here. Given that you are taking out a loan with HSBC your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of HSBC’s conveyancing panel appointment which obliges them to follow the CML Handbook requirements last updated HSBC. even if you were a cash buyer you would be ill advised not to carry out a local authority search.
Are the lawyers identified as being on the HSBC conveyancing panel, together with their details provided by HSBC?
The firms themselves provide us confirmation that they are on the HSBC conveyancing panel as opposed to being supplied with a list from HSBC directly.
I would like to get my ex-wife removed the mortgage deeds. Can HSBC really insist on which solicitor I can or can not instruct?
You can use any solicitor you like but HSBC then has the right to appoint a different solicitor to act for them at your expense. It might be more cost effective and quicker to instruct a lawyer who is on the HSBC solicitors panel
I am buying a property where the roof has a solar panel. HSBC have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with HSBC your lawyer must to check the HSBC conveyancing instructions contained in the Part of CML Handbook for HSBC . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to HSBC where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. Requirements for Scotland are due in the near future.
The for formalities of my purchase has taken place with a loan from HSBC. Conveyancing was satisfactory but I feel I should register my dissatisfaction about HSBC. How does one go about formally complaining?
Almost all banks and building societies have complaints procedures. Your first point of contact should be one of the HSBC branches or the Customer Care Team at HSBC head office. In most cases complaints to HSBC are resolved effectively and efficiently. However if you are not satisfied that the matter is resolved you can write to the Financial Ombudsman Service at South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
I am due to exchange contracts on my house. I had a double glazing fitted in month 8 but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, HSBC are being problematic. The solicitor who is on the HSBC conveyancing panel is happy to accept ‘lack of building regulation’ insurance but HSBC are insisting on a building regulation certificate. Why do HSBC have a conveyancing panel of they don’t accept advice from them?
It is probably the case that HSBC have referred the matter to their valuer. The reason why HSBC may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing correctly and safely installed. It merely protects against enforcement action which is very unlikely anyway.