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

Yorkie1

Richard_Webster wrote: »

This change isn't going to be effective until August. I'm hoping I get my accreditation under CQS by then!

Indeed, I think I mentioned that earlier in the thread but hadn't repeated it in that post Good luck.

Another thing I didn't flag up is, if I recall correctly, that the Gazette article said that sole practitioners would initially be limited to transactions of up to £150K, but that the Law Soc were going to be working to try to remove that limit.

Richard_Webster

Quote:
Originally Posted by Richard Webster
This change isn't going to be effective until August. I'm hoping I get my accreditation under CQS by then!
Indeed, I think I mentioned that earlier in the thread but hadn't repeated it in that post Good luck.

Another thing I didn't flag up is, if I recall correctly, that the Gazette article said that sole practitioners would initially be limited to transactions of up to £150K, but that the Law Soc were going to be working to try to remove that limit.

Yes, it is a silly limit. I phoned up First Direct (part of HSBC) when this whole business started and they said as an SP I could deal with cases up to £349,999.

Quinsfan

I've had a similar experience to the original person on this thread. My situation is simpler; our buyer is getting a mortgage with HSBC, I am buying an emoty property. After over 3 months we still don't have an exchange or even a clue as to when it happens again. If anybody in your chain (and even if you have no chain) think seriously if your buyer is using HSBC.

deeps_10

I have had the same experience as most people on here, but I managed to exchange last week finally!!

For anyone who has gone through this process successfully (when using their own solicitor). We have set a completion date in two weeks, should I expect more headache with completion or will it go through as normal?

To give everyone an idea of my experience. I am a FTB and their is no chain involved. I have my own solicitor and so therefore CW were involved. I came very close to losing the property due to the delay of CW. The vendor put the property up for auction and I managed to exchange 5 days before the auction!

offer accepted March 7th
mortgage approved March 24th
survey completed April 8th
all documents submitted from both solicitors to CW by April 15th
original exchange date May 2nd
exchange done 1st June

Advice

For any buyers who have had an offer accepted on a property and are using HSBC as their lender, but have their own solicitor. If you are still in the early stages I would

1. find a new lender or
2. use HSBC's solicitors

For any sellers, I would

1. recommend checking if the buyer is going to use HSBC as their lender. If they have their own solicitor I would make the buyer aware of this forum thread and try to persuade the buyer to use one of HSBC panel solicitors, if they choose to use their own solicitor, I would not accept an offer from them.
2. accept an offer if they choose another lender

For any buyer who is thinking of purchasing a property, my advice would be use HSBC's panel of solicitors or use another lender.

adindas

adamshlong wrote: »

Hi all,
I posted on this forum several months ago, when we were looking for a house. We have now completed, and actually had an excellent experience using one of HSBC's panel firms, so thought I would post, even though I know the process has recently changed.
We made an offer in mid-April, which was accepted by the vendor immediately. We are first time buyers, living in London, and it was a simple purchase (the vendors had no chain either). We went to HSBC for our mortgage since they offer the best rates. We had read on this forum about the nightmare experiences that people have with CW, and so asked to use one of the panel solicitors. We were allocated a solicitor in London, but had not heard of them, and weren't too impressed by their website etc. So we asked to be instructed by first property lawyers (who we knew were also on the panel) and this was accepted without hassle. FPL are an online solicitor, which was really useful at times (nearly everything done by scanning/emailing, which saves loads of time). Their customer relations aren't perfect (our solicitor wasn't the most charming of ladies) but we went from offer to exchange within 24 working days (which I understand is pretty damn fast). Everything was pretty smooth, and we didn't have to deal with CW.

.

Hi adamshlong; and all.
I am in the same situation with you and if you do not mind want to learn for your experience. I am also FTB and my offer has been verbally accepted. I did not get it in writing as the vendor solicitor which in this case Countrywide mention that they send it to my conveyancing solicitor once I have assigned one. I have got AIP with HSBC previously. I have made an appointment with HSBC mortgage adviser early next week to finalise the mortgage. The propoerty value is very cliche to £200.000 and look to boor of about £120.000

1. First question which is related to your experience. How much did you pay for conveyancing I mean include Basic solicitor fee and disbursement and searches (minus stamp duty).

My 2 &3 question as below is related to conveyancing solicitor that I need to choose which I believe a lot of experts in this forum could give their opinions. The vendor has instructed CW as his solicitor which after reading this thread is quite unsusal circumstance . My persona stance is that I do not want to have too much hassles and stress so I will choose one of HSBC panel or even ask HSBC to recommend to me. t.

2. The EA has pushed his solicitor to me which is CW e.g. same as vendor's solicitor. I understand from the point of get the deal done quickly it is a favorable option, and I understand that CW fee is competitive among other HSBC panel members. But I sense here (if I am not wrong) the conflict of interest (COI) as I might not be well represented. Do you think I shall use CW ?. As I understand the difference between the fee among solicitors in HSBC panel will not be significant. I am not in a hurry to move. I even could do it after 4-6 months so quick completion is not my interest but the vendor interest. Do you think I shall use countrywide or not, your advise with reasons please so I could make an informed decision.

3. As the vendor and I (in case I have decided to do so) have used CW do you think HSBC will use other solicitor in the panel or there is a chance it will also use CW. What advantage/disadvantage I will get in case HSBC also choose to use CW.

Additional information, I have been banking with HSBC for over ten years without causing any single problem, and I believe they have records of my personal circumstance.

Thank you for your time.

AdamS_CivilServant

adindas wrote: »

1. First question which is related to your experience. How much did you pay for conveyancing I mean include Basic solicitor fee and disbursement and searches (minus stamp duty).

.

If you google "HSBC mortgage solicitor fees" you can see the fixed prices (sorry - I'm not able to post links)


Not sure about your other questions. I'd probably ask for one of HSBC panel firms (not countrywide. e.g. i went with premier property lawyers and liked them) and go with that.

Yorkie1

Premier Property Lawyers have their own thread on here ... others have not have such a good experience ...

Matts_Mum

When all of HSBC's mortgage processing staff were UK based, so long as a solicitor's Certificate and undertaking/Report on title were on bank premises, drawdown of the loan could take place up to 3.30 that day. Everything in the process was geared up to ensure everything was in place for completion. This 10 day nonsense has been brought in to make sure any errors made in the process can be rectified before the funds are required.

Believe me, I know

Elfbert

phoodless wrote: »

BUT, because I am in private rented property at the moment, can I ask what would happen if the Completion didn't happen or if the date kept slipping??

Surely I would have handed back the keys to the landlord or a termination date been set ??

Who would pay for temporary accommodation until completion actually happened ?

Well, I've been homeless since the end of March because CountryWide and HSBC are incapable of answering any question in fewer than ten days. And right now, I'm paying for temporary accomodation. (And putting in a complaint to HSBC, so I hope to at least get my £192 back, although I don't hold out much hope for any more than that!)

Oh, and no, still no exchange or completion date in sight, despite my original projected completion date being the 24th March...but that was before Countrywide managed to send all my paperwork to someone else, never answer the phone, indicate the wrong mortgage offer expiry date on more paperwork and take twenty days to ask some questions...because, shock, horror, the answers came on 2 sheets of paper, not one, which apparently confused them so much they re-issued the second page of questions!!

Obviously I would avoid...

Lottiel_2

Hell and back?...with HSBC

A mortgage with HSBC was rated the best there could be,

But reviews should be read

T’would be wiser instead

To find one that’s far more stress-free.

In August they’re scrapping the scheme van der Heijden said worked like a dream,

But those trying to buy with his firm want to cry, as delays and ineptitude reign.

So PLEASE van der Heijden, we plead; tell your ‘Panel’ (they surely must heed)

To conclude current files with more haste and less guile

So your clients get the funds you’ve agreed.

This is an observation based on our current experience. Just wish we'd read this review page before we committed to HSBC. Seemingly brilliant product but completely ruined by the unending delays and more hoops.