HSBC - warning about their conveyancing offer

timmyt

But don't believe the media, decide for yourself.

Thrugelmir

Unfortunately the fact they offer some of the best deals in the market will outweigh the inconvenience of a few days extra.

I've never known solicitors to be in a hurry when moving house.

Thrugelmir

timmyt wrote: »

Use an IFA to source the best deal. They consider every single Lender - at for free. HSBC are certainly not the lowest.

I've never felt the need to use an IFA. More than happy to do the legwork myself.

HSBC in certain market segments are up at the top. As that's where they want to build market share.

lionelator

timmyt wrote: »

If only that was the problem we are facing with them for a client.

It is nothing about a few extra days.

And the poster in the window of any Lender is not to go by. There is always a catch to a 'great deal'.

Use an IFA to source the best deal. They consider every single Lender - at for free. HSBC are certainly not the lowest.

Does anyone offer a lower lifetime 65% LTV rate? Or a 70% rate?
Genuine question.

phil_b_2

lionelator wrote: »

Does anyone offer a lower lifetime 65% LTV rate? Or a 70% rate?
Genuine question.

Nope, HSBC are at the top of the tables with these.

Bluemeanie_2

I am with HSBC now as I remortgaged with them when I hit 90% LTV (I was in neg equity for a while, just overpaid to sort it) due to OP now we are on the 80% LTV rate. We are on the fee free lifetime tracker. I occasionly have a quicjk look on moneysupermarket etc and can't find a better rate so they seem quite good? Course I could be wrong, but they seem quite reasonable rate wise. I'm 5 months away from swapping to 70% LTV. Course with my money saving head I'll look around again.
Anyway, what I was going to say is, if their rates were the best for me I would just pay £162 and use my own Solicitor.
however if this happened 4 years ago when I bought my first house I would have gone along with Countrywide! Very pleased I found Martin Lewis and his forums!

CopperPlate_2

Just re-mortgaged from first direct to HSBC on a 69%LTV tracker at 2.09 plus base (2.59%) with no fees, valuation or legal fees, no redemption penalties or mortgage exit fee. Saving about £100 a month all in. Scottish conveyancing done by a Dunfermline based conveyancer firm (Yourconveyancer.co.uk) and so far all has been very good with all correspondence done through an online portal.

Have gone from application to completion in around 14 days so pleased that there has been no issues so far!

jonas123

I took the option of using my own solicitor (partially as i'd already engaged one before finding a mortgage.). All in all, I'm having to fork out around £192 for the 'I don't want to use HSBC's conveyancers' fee and another £300 for my solicitor to complete the 'extra' work created by HSBC (as they still use Countrywide as their solicitor). It's annoying and an unforeseen cost, but still cheaper than the other mortgages as there is no booking fee (I got mine in the January sale) and the rate also saves me around £40 a month compared to the next best. Plus it is more flexible allowing unlimited overpayments.

My real gripe with it is the fact that there is a lot of duplication (effectively my solicitor does all the work, and then has to fill in a load of forms and send everything to Countrywide for them to repeat the work!). This can be problematic as it slows the process down, but if time is not a huge factor, I'd still probably use HSBC again.

Pierredelarue

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