Countrywide Conveyancing/HSBC - avoid like the plague if you want to complete

dobydog

My answer is the original post is YES

Buyers mortgage is with HSBC, wanted to complete before stamp duty threshold holiday,

Countrywide told her solicitors on Wednesday afternoon they were faxing to get funds released, then Thursday morning said they were given the wrong information. It is unlikely now the funds will come through, the stress and the knock on effect this company causes is dreadful.

madtek

We are suffering similar problems to everyone else in this forum.
We are buying a house and our Solicitor had everything ready and sent it to Countrywide on 6th March.
Countrywide have still not responded - 17 days later.
When our solicitors call them they are told that Countrywide are not working on our case as they are busy.
When I call HSBC they say they will ask Countrywide to take a look.
I'm not allowed to call Countrywide myself.
Who do I complain to? What can I do to get things moving?

Richard_Webster

Who do I complain to? What can I do to get things moving?

HSBC at a higher level and perhaps they may get the message.

betmunch

madtek wrote: »

Who do I complain to? What can I do to get things moving?

Trade Press? Wont get things moving, but may help others that follow behind you.

Mortgage Strategy has already reported that Estate Agents are warning buyers off HSBC because of this.

aslan2

I'm worried seeing this thread now as I applied for an HSBC mortgage yesterday.

I have not yet appointed a solicitor to act for me, what would be the best thing to do?

1) Appoint my own solicitor
2) Use an HSBC solicitor but make sure I use one of the panal firms that is not CC

jonas123

If you're under tight timescales, I would consider avoiding HSBC and going with the next best deal.

If you're happy that you may have some flexibility (add approximately 3 weeks on to your anticipated timescales), then in my opinion the best / quickest way to proceed is to use one of the firms on the panel but NOT COUNTRYWIDE if you can help it.

The problem with using your own solicitor is that:

a. you have to pay extra for HSBC to use Countrywide too (~£190)
b. your solicitor is likely to charge you more for the extra work caused by Countrywide (mine was an extra ~£300)
c. you may have to carry out additional searches that aren't normally required as Countrywide insist on having everything done(mine came to another £73)
d. after your solicitor has completed all work, you have to submit documents to Countrywide and they have to effectively do the same thing again (= big delays, mine has taken 3 weeks and is still ongoing)
e. the stress of the whole situation will consume you for a month, it's not pleasant!

I'm sticking with it at the moment because it'd be too much stress to restart another application process, especially with the vendor pushing me to exchange asap. The deals you get with HSBC are very good and I couldn't find another lender that could come near, but in hindsight I probably would have just gone with someone else.

aslan2

Thanks, sounds like I might be best using one of their panal.

I'm not sure I want to pull out of the HSBC deal all together, as it would mean another credit check and their rates are better than elsewhere.


What fees have people been charged by the panal firms for the work?

betmunch

aslan2 wrote: »

I'm worried seeing this thread now as I applied for an HSBC mortgage yesterday.

I have not yet appointed a solicitor to act for me, what would be the best thing to do?

1) Appoint my own solicitor
2) Use an HSBC solicitor but make sure I use one of the panal firms that is not CC

Definately option 2 if your not prepared to apply elsewhere.

Remember saving 0.2% (or whatever) doesnt count for anything if you lose the house

jonas123

aslan2 wrote: »

Thanks, sounds like I might be best using one of their panal.

I'm not sure I want to pull out of the HSBC deal all together, as it would mean another credit check and their rates are better than elsewhere.


What fees have people been charged by the panal firms for the work?

Yes unfortunately at the end of the day, a few months of pain will save us £40 a month at least, so it's the price I have to pay!

kingstreet

aslan2 wrote: »

Thanks, sounds like I might be best using one of their panal.

I'm not sure I want to pull out of the HSBC deal all together, as it would mean another credit check and their rates are better than elsewhere.


What fees have people been charged by the panal firms for the work?

It's a set fee. Although they now appear to be suggesting borrowers contact Countrywide for a quotation, rather than quote the fees on their site;-

This is from the original press release;-

Table 1

Table showing conveyancing fees for England and Wales

Purchase Price - Legal Fee (including Vat)
Up to 100,000 - £399
£100-150,000 - £449
£150-200,000 - £475
£200-300,000 - £499
£300-500,000 - £549

http://www.newsroom.hsbc.co.uk/press/release/hsbc_introduces_conveyancing_p