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

deeps_10

KG51005 wrote: »

My partner and I have just started the process with HSBC & countrywide, whilst using our own solicitor for a sale and purchase.
We were made aware of the £192 charge and didn't think it sounded to bad. We were given the impression that by paying this fee it meant we didn't have to sign up to HSBC solicitors. However we have had to pay the £192 plus a £200 registration fee to Countrywide. The £200 was never mentioned during either of the two meetings we had with the HSBC mortgage advisor. Has anyone else had to pay this extra £200 for the pleasure of Countrywide's services?
We intend to make a complaint to HSBC, but after reading some of the posts here, think we'll wait to see how bd it gets first!

What type of registration is this? Is it the HM Land registration fee by any chance?

KG51005

deeps_10 wrote: »

What type of registration is this? Is it the HM Land registration fee by any chance?

Thats a good point and one I will follow up on when we meet with our own solicitor hopefully later in the month. However from the way the letter reads we believe this is a fee to register with Countrywide as a solicitor.

viccibo

We are in the same position as so many others, we are in a small chain with one individual using HSBC and Countrywide Conveyancing.

We have now missed a couple of completion dates and all solicitors where ready to at least exchange last Friday, however, further delays with Countrywide stopped this.

We have now been informed that they have raised further queries and so the saga continues.

Has anyone actually ever had a sale or purchase complete when using these companies?

We cannot talk to anybody but our Solicitor and they are as in the dark as us as to when this is likely to conclude.

As said by so many others on here I would urge anybody who was thinking of using these companies to think again.

LConveyancer

There's been a big outcry in the profession over this but hope is on the horizon as it looks like HSBC might be about to make a u-turn in their decision to limit their panel to only 43 firms, not all the firms on the panel are bad. I recently acted for a client getting an HSBC mortgage where the HSBC appointed one of the 'Quality Solicitors' group to act, it went quite smoothly but I agree that if you get Countrywide you might as well give up. HSBC are apparently now considering a further 200 firms applications for their panel and according to the Bold Group, a major campaigner against the restricted panel a decision should be made by the end of this week.

viccibo

LConveyancer wrote: »

There's been a big outcry in the profession over this but hope is on the horizon as it looks like HSBC might be about to make a u-turn in their decision to limit their panel to only 43 firms, not all the firms on the panel are bad. I recently acted for a client getting an HSBC mortgage where the HSBC appointed one of the 'Quality Solicitors' group to act, it went quite smoothly but I agree that if you get Countrywide you might as well give up. HSBC are apparently now considering a further 200 firms applications for their panel and according to the Bold Group, a major campaigner against the restricted panel a decision should be made by the end of this week.

Do you have any useful tips for the unfortunate people who are stuck in a chain which is on the verge of collapse due to the way in which Countrywide conduct their business?

Thrugelmir

Richard_Webster wrote: »

Not disagreeing, but as a devil's advocate I think I would get your solicitor to check through what has been said for his comments on it all as it is possible to oversimplify things.

Interesting that the other party/parties in the transaction(s) never get a mention. Over the years I've had many fraught moments and delays when moving house particularly when there's a chain involved.

jlh7

Has anyone who lives in east Berkshire used HSBC/ CC at all? If so, how did you experience rate compared to some of the horror stories on here with regards to CC... Fingers and toes crossed this is not like geting blood from a stone!!!

Sending some good luck vibes to all

LConveyancer

BREAKING NEWS - As of today HSBC have reversed their decision to use a restricted panel and have advised that from August 2012 all Law Society CQS Accredited firms will be permitted to act for HSBC Bank PLC. It doesn't help those people who are currently stuck in the beaurocratic nightmare of the current process but it shows how out of touch HSBC were with the profession.

LConveyancer

viccibo wrote: »

Do you have any useful tips for the unfortunate people who are stuck in a chain which is on the verge of collapse due to the way in which Countrywide conduct their business?

Its a bit difficult if you are not directly involved as it helps to be able to talk to someone involved.

To cut a long story short there are three main issues.

1. HSBC's solicitors (Countrywide) will have sent a three page checklist of documents they require to the Borrowers solicitor. You need to find out if the borrowers solicitors have returned all the documents on the checklist.
2. The borrowers solicitors need to provide a professional undertaking (a sort of promise in writing) to HSBC, the terms of this undertaking are quite onerous and most firms require a partner to sign them. You need to find out if this has been given.
3. HSBC require the solicitor acting for the seller to also provide them with a written undertaking in a prescribed form. You need to find out if this has been given.

Once the HSBC's solicitors have all the above information they should review the documentation withing 2 working days and release the mortgage monies 6 working days thereafter if everything is correct.

I hope this helps somewhat, i'd speak to your selling agents as they can talk to every party in the chain.

Lavendyr

http://www.guardian.co.uk/money/2012/may/16/hsbc-ditches-controversial-conveyancing-panel?newsfeed=true

"
HSBC is to drop its controversial requirement that homebuyers use one of a panel of just 43 firms to do the bank's legal work following a string of complaints from customers and lawyers.

From August, the bank will allow all members of the Law Society's Conveyancing Quality Scheme (CQS) to act for it and the borrower in the conveyancing work needed to buy a property, increasing the number of firms consumers can choose from by more than 1,400."