HSBC and Countrywide fiasco

Nelly_Smith

Many posters on this site and on other online forums are rightly angry with HBSC for forcing them to use their ridiculously restrictive panel of appointed solicitors in order to borrow money from them. The reality has been a total disaster for a great many people, particularly FTB’s who now will have to pay Stamp Duty because HSBC’s appointed panel offering a swift and affordable service has turned out to be a anything but. I was incensed to read a HSBC spokesperson in one paper assuring everyone all their FTB’s would hit the deadline. It’s simply not true. How could it be? They have appointed Countrywide (THE MOST NOTORIOUSLY BAD COMPANY EVER………..read posts on here or on Ciao if you don’t believe me)

My buyer was forced to use them along with her own very good local solicitor. Her legal fees are now double the original ‘fixed fee’ because of the extra work Countrywide are creating. She now has to find another 2K for Stamp Duty. If she can’t, well, I’m sure those real nice folks at HSBC will let her add it on to her mortgage if she earns enough (tough maracas on us both if she don’t ) and oops, there goes your nice mortgage rate – the one you went to HSBC for in the first place. Anyway, my buyer is telling HSBC she's quitting next week if we don't exchange. There’s no chain. Within a couple of weeks of the offer being made in mid Jan, my solicitor has been ready, her local solicitor has been ready. We’ve ALL been ready to exchange. Everybody is waiting for those clowns at Countrywide to do a decent day’s work, but they are slow, incompetent and obstructive and we are no nearer an exchange date and it’s almost Easter. I am with her 100% if she ditches HSBC (why are they using Countrywide? Not for your benefit that’s for certain despite all their glib assurances). We don’t have a chain so I’m lucky, mi casa es su casa. But in a chain this could easily turn into some kind of Hunger Games with houses…
People: If this has happened to you, or is happening right now - I hope you complain like thunder. To HSBC. Don’t bother with Countrywide. They’re just a big old dinosaur with no brain. HSBC NEED people, because we work hard for the money that pays their shareholders. Dump them and sure, we end up feeding somebody else’s shareholders, but it’s OUR CHOICE they have taken away. We should be entitled to chose who we want to represent us – not a big fat BANK who end up messing it up big time for everyone.

jonas123

Pretty much what a lot of us have been experiencing, see the house buying forum...

I've already complained to HSBC, they gave me their final response which was along the lines of 'there is a lot of conveyancing fraud, we've done this to protect us as responsible lenders. If you are not happy, speak to the ombudsman'.

I'll be writing to them shortly

DVardysShadow

Nelly_Smith wrote: »

People: If this has happened to you, or is happening right now - I hope you complain like thunder. To HSBC. Don’t bother with Countrywide. They’re just a big old dinosaur with no brain. HSBC NEED people, because we work hard for the money that pays their shareholders. Dump them and sure, we end up feeding somebody else’s shareholders, but it’s OUR CHOICE they have taken away. We should be entitled to chose who we want to represent us – not a big fat BANK who end up messing it up big time for everyone.

The anger is justified - Countrywide in my one experience as buyer form someone using them were so dire that I would never enter a chain where they were involved.

But equally, the lender should have a choice as to who represents them legally. But of all the possible cockeyed choices, they could have done better than Countrywide by a whole Countrymile.

jam_mac

my family and i have ended up with nothing but problems and stress caused by this company,,, we wer due to complete with our buyers on the 16th of march, which was cancelled due to countrywide, then it was moved to the 22nd then the 30th and today we have found out that due to the morrons this company has working for it and the lack of help from HSBC... who employed this company!!! that my draw down date has expired so now my family and i have got to find storage for our belongings and some where to stay right on bank holiday weekend as from thursday we will be on the streets as our buyers move in and we have to be out!!!!

also anybody wanting to use hsbc for morgages be warned in contract for morgage mine states no property insurance is needed,,,, but hang on Countrywide insisted that i have insurance be for morgage release!!!!! so now i have been paying insurance for A MONTH.. on a property i dont actually own or live in yet, :mad:

I wish i had never used Hsbc and as soon as this is sorted i wont be anymore!!!!!!! as 30+ years of banking with them, im sick of the excuse its not us its countrywide, and phone call after phone call im still getting no where and none the wiser as to when my family will finally be in a home that was agreed morgage for back in january!!!!