HSBC Conveyancing Lender Panel Compliance Tool

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

This software optimises the way you can demonstrate to lender panels that you are, and can remain fully compliant with their requirements, with automatic updates on HSBC’s changes. While using this technology 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 creates real-time alerts, automatically produces regulatory and CQS reports, and will improve your firm's efficiency. In addition it is user friendly, cost-effective and, for some firms, leads to reduced PII premiums.

Find a Law Firm approved by HSBC

Lenders often change their requirements. The BSA instructions 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 2010, HSBC has made 698 revisions or additions to sections of their version of the BSA Requirements.
That equates to a section change every 3.9 days. In total, 47% of the sections of the BSA Requirements for HSBC have been changed since 26/1/2010.

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
6.6.1 19/11/2018 CML
6.6.4 19/11/2018 CML
1.11a 30/10/2018 CML
14.2.2 30/10/2018 CML
6.7.1 10/07/2018 CML
7.3 29/06/2018 CML
14.1.5 29/06/2018 CML
5.5.3b 28/06/2018 CML Lack of Planning Permission Indemnity Insurance
5.5.3d 28/06/2018 CML Lack of Planning Permission Indemnity Insurance

Last update 02/06/2020

FAQs for the HSBC Solicitor Panel from members of the public

I am progressing with the sale of my maisonette and the EA has just called to warn that the purchasers are switching solicitor. The reason given is that HSBC will only deal with solicitors on their approved list. On what basis would a major lender only work with certain lawyers?
Mortgage companies have always had panels of law firms they are willing to work with, but in the past few years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 25 years.

Lenders point to the increase in fraud by way of justification for the cull – criteria have been tightened and a smaller panel should be easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels, or have other concerns about them. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyer’s case. Your purchasers are unlikely to have any sway in the decision.

I am due to complete my purchase next Thursday. My conveyancing lawyer has asked me to provide him with a copy of the building insurance for the house as as he informs me that he is duty bound to validate that it is in order for HSBC. What risks do HSBC expect the insurance to cover?
Any lawyer on the HSBC conveyancing panel would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in HSBC’s Part 2 requirements of the CML Handbook (last updated on HSBC). Being on the HSBC conveyancing panel your lawyer is expect to follow these requirements.
Do all the licensed conveyancers and solicitor practices listed on your search have online case tracking as I understood that this was a condition of being on the HSBC conveyancing panel?
No. There is no CML Part 2 or Building Society Association requirement relating to online case tracking. Some law firms operate such technology and some don't.
The firm that I appointed last week on my purchase in Newcastle has suddenly closed. They were on acting for me because I needed a solicitor on the HSBC conveyancing panel and my previous lawyer was not. I gave them a cheque for £150 in advance. What should be my next steps?
If you have an estate agent involved then let them know straight away so that they advise the vendors that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the HSBC conveyancing panel and notify the lender. If you have paid over any money it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers should be in a position to assist
Hi, thinking about buying a house off my mate. Once we agree a price, what’s the best way to proceed? I hope to get a mortgage with HSBC. Is there anyway to cut out the solicitors to save on the costs? My dad reckons back in the day he did a lot of it himself, just went into the land registry office and providing them with the info they needed himself
If you are getting a mortgage with HSBC involved you will need to appoint a solicitor on the HSBC conveyancing panel. We would not encourage you to both use the same solicitors' firm. There are clear conflict of interest issues and it's not going to make a huge difference to the speed of the overall process. So as not to hold things us you should pass on your solicitors details to HSBC. Feel free to use our search tool to look for a licensed conveyancer or solicitor on the HSBC conveyancing panel.
I have a mortgage with HSBC. Conveyancing has been completed some time ago. Should I wish to rent out my property 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 prior to letting out 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 solicitor.
I have not been happy with the level or service received from my lawyer. Is there a HSBC conveyancing panel complaints department or do I complain directly to the law firm?
Complaining to HSBC about their conveyancing panel is unlikely to yield much of a response. Every solicitor firm and conveyancer must have a complaints procedure. Usually one can find this information from the solicitor’s or conveyancer’s website or ask at their office. They must tell you about it if you ask.

The Legal Ombudsman will make sure that your complaint is addressed by the solicitor. It can also advise you how to complain.

If a licensed conveyancer does not have a complaints procedure or will not tell you about it, contact the Council for Licensed Conveyancers (CLC), which will make sure that your complaint is properly dealt with by the conveyancer. Please see below for more information.