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

Proxy

HSBC were the best deal for me too.

IFAs are uniformly not advancing HSBC because they don't pay commission.

Proxy

Also, just to give you a happy story, I have just completed with HSBC and one of countrywide's panel firms. The process has been smooth, quick and easy. Pow.

glastolover

timmyt wrote: »

are you crazy!

IFAs all over the country are not uniformly advancing HSBC...because they are not in fact the best deal. Take IFA advice quickly. As a conveyancing solicitor, I am about to buy and it is not HSBC that is coming up the best.

Have to strongly disagree. My independent mortgage broker has consistently recommended HSBC to me (in concurrence with my personal research) even though he cannot do the deal for me and so will not be able to make anything out of it. IMO this shows he is being honest, I have always had good advice from him.

If you really think there are better deals than HSBC out there, then tell me what they are. Who are you saying are coming up best for you? In the absence of you telling me this, I have to conclude that you are incorrect.

glastolover

timmyt - I am still not sure about your comments. Why would a broker (IFA or mortgage adviser) want to place a deal with HSBC if they do not pay any commission? They aren't going to do it for free?!

So if you think I can get a better deal from an IFA, will they tell me what the deal will be, or will they just tell me they can beat it? I don't want to agree to pay a £500 fee to them and then find they get only a slightly better deal!

I am more than happy to look into it, I could be wrong, and I will thank you if you are right, but I am still not convinced.

Can you recommend an IFA mortgage adviser for me to try?

My broker I mentioned that I used before is an independent broker who takes commission, so I think he is already what you are talking about. He searches the whole market AFAIK, and he tells me he can't beat HSBC, he can't arrange that for me (as they won't pay commission), so I am best to arrange it myself. Seems like honest and good advice to me.

Proxy

timmyt wrote: »

it is the quality of the conveyancer that is the worry. let's hope the legals were done without mistake that comes back to bite you.

the reason mistakes are still found - when you might think houses have been sold multiple times already with multiple lawyers - is because of the quality of the conveyancer.

whoever you use as a conveyancer - just search their name on this forum for how likely they are to have NOT made any mistakes..

I rarely post on this Site anymore, as people just keep making the same mistakes, whatever sound advice is given in these threads.

And if everything is fine in six months? Will I have still made a mistake? You'll probably say yes.

Or perhaps not every case goes wrong.

Proxy

Oh and - absolutely no bad reviews to be found on this forum by my assigned solicitors.

AdamS_CivilServant

Thanks for all the posts - I've found this forum very useful. My girlfriend and I are FTBs, looking to buy a house in London, and are hoping to use HSBC for our mortgage (they do clearly offer the best rates, despite what others have said; several honest mortgage advisers have conceded to us that nobody can compete with HSBC rates/conditions, and so advised us to go it alone with HSBC without mortgage adviser help!).

It sounds like everyone is agreed that Countrywide should be avoided, and so the best option is to choose one of the 43 recommended firms (but not countrywide). Proxy - happy to hear of your good experience - could you tell us which firm you used? Has anyone else used one of these 43 firms, and willing to reveal names?! Would be especially interested if there was a good one based in London. TimmyT - you say you have the list of the 43 firms - are you able to post this list for us, or is there a reason why you cannot?

Also, I'm quite interested in hearing how the process works of HSBC/Countrywide allocating customers to one of the 43 firms. Do HSBC give you the list of 43, or do Countrywide give you the list? Or are you allocated one without ever getting to see the list?!

Thanks for all your help - has been really useful!

glastolover

timmyt wrote: »

Why the long post of just talk? I do not tout for work on this Site, nor do I personally recommend.

So. Like I say, try it, call an IFA. IT is worrying if you have not already got on on board. NO charge to you to tell you what % they can get for you, and if you are happy, you will pay at that point.

Forget the 'why would they recommend X if they dont get a commission nonsense, we are talking IFAs here, not some of the Estate Agent mortgage advisers.

Anyway like I say, its not just about being a good mortgage deal, its about the quality of the conveyancer being forced on you if you choose to use an HSBC conveyancer. Last thing you want are costly mistakes. Two of the panel firms in particular - though I have seen the complete list and franky I am not impressed by many others - have some seriously bad reviews on this Site alone.

Good luck.

Mine is not a long post of just talk! I am trying to understand what you are really saying, but I am finding it difficult. The advice I have had is not from an EA mortgage advisor (I would never dream of going to them!), I already said it is from an independent mortgage advisor, I think he is effectively what you are calling an IFA mortgage advisor, no?

That is what I am trying to understand, I asked if you can give an example or recommendation of the kind of IFA mortgage advisor you are talking about, and you haven't. I don't understand what you mean by an IFA mortgage advisor and why you think the IFA tag makes them so amazing! I would gladly phone one and get a quote if you can help explain exactly what you mean and who I should call.

Again, I apologise if I am missing something, but to me you are not being clear.

glastolover

Timmyt - to clarify, here is the firm the broker/IFA mortgage advisor I have spoken to works for: http://www.nlsessex.co.uk/.

They say "we provide private and corporate clients with truly independent financial advice". They specialise in mortgages along with other financial products.

Is this not an IFA mortgage advisor?

If you can recommend others, I would gladly speak to them.

As I said before, this one (who I trust and dealt with on my first mortgage 10 years ago and then on subsequent remortgage actions before I sold up 3 years ago, and who I trust and regard highly) tells me he cannot beat HSBC for a client in my financial position, and my best deal is to go direct to them.

Why is this so unbelievable!?

SuzieSue

glastolover wrote: »

Timmyt - to clarify, here is the firm the broker/IFA mortgage advisor I have spoken to works for: http://www.nlsessex.co.uk/.

They say "we provide private and corporate clients with truly independent financial advice". They specialise in mortgages along with other financial products.

Is this not an IFA mortgage advisor?

I assume from your earlier posts that you are not paying NLS Essex a fee for their service? If so, then they cannot be truely independent as they will only recommend products where they will get commission.

If you were paying them a fee for their advice, regardless of whether you took their advice or not, then they could recommenend HSBC.