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HSBC U-Turn on restricted conveyancing panel
LConveyancer
Posts: 8 Forumite
BREAKING NEWS
The HSBC has announced today that they will from August 2012 accept any firm of solicitors with CQS (Conveyancing Quality Scheme) accreditation to act for them in their mortgages. This offers little to those people stuck in the current beurocratic nightmare but at least it means that in future there should not be the complications, frustrations and delays that have resulted from the poor panel management of Countrywide.
The HSBC has announced today that they will from August 2012 accept any firm of solicitors with CQS (Conveyancing Quality Scheme) accreditation to act for them in their mortgages. This offers little to those people stuck in the current beurocratic nightmare but at least it means that in future there should not be the complications, frustrations and delays that have resulted from the poor panel management of Countrywide.
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Comments
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So thats an extra 200 conveyancers.
What if your solicitor isnt in that 200? You still get to pay for the privaledge of Countrywide delaying your purchase.
I cant see this making a great deal of differenceI am a Mortgage Adviser
You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
So most solicitors are not part of the CQS?0
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According to the report in Mortgage Strategy, and confirmed in another thread its going to add 200 solicitors to HSBC's panel.
I was under the impression there were thousands of licenced conveyancers in the country.I am a Mortgage Adviser
You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Hello????
Just re-read the article and its now saying 1400 solicitors will be able to act for HSBC.
Thats much better, maybe it will make the differenceI am a Mortgage Adviser
You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Since the CQS appears to be operated by The Law Society (of England & Wales) and not by The Law Society of Scotland, that would appear to leave Scots HSBC customers out in the cold......0
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Sounds like good news - was hoping for a FTB mortgage with HSBC on the grounds that my partner (joint applicant) has the whole kit and kaboodle with them, and pretty much loves the bank. I, however, was a bit put off by taking the first step with them after reading on here how much of a nightmare they can be!0
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Also appears to be for mortgages up to £150,000 (initially).0
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HSBC appear quite good for FTB, aside from the previous conveyancing problems, so this is great news.0
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when it says from August - at what point in the mortgage process does that mean - will it be from the application stage or further down the line than that?0
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