MSE News: HSBC U-turn could prevent mortgage delays

Former_MSE_Helen

This is the discussion thread for the following MSE News Story:

"HSBC will reverse a controversial decision to only allow its solicitors to act on its behalf in mortgage applications ..."

Read the full story:
HSBC U-turn could prevent mortgage delays

Credit-Crunched

Sense prevails at last, business suicide if they continued down that slippery slope!

Bluemeanie_2

Yay! Wonder what the fees will be to completely use your own solicitior. (To miss their side checking everything on their behalf)

foundationsmcr

We've just benefited from this during our house purchase. Due to sign the documents with HSBC next Wednesday. Clearly a money making scheme for HSBC but counter intuitive!

Curious5

Unfortunately, I was caught out by the £160 fee and the HSBC solicitors held the process up and required more information than would usually be necessary (which also cost me more money). Given that HSBC are revoking this policy is there a way I can claim my fee back?

Thanks

Gep

I've contacted HSBC today and even if it's only 2 weeks to August they still don't know anything about the changes!

The problem for me is not the £192 fees, which I'm "happy" to pay, but the fact that having 2 different solicitors on the buyer side is going to slow the process.

Does anybody else have the same problem?

Yorkie1

Gep wrote: »

I've contacted HSBC today and even if it's only 2 weeks to August they still don't know anything about the changes!

The problem for me is not the £192 fees, which I'm "happy" to pay, but the fact that having 2 different solicitors on the buyer side is going to slow the process.

Does anybody else have the same problem?

Gep, I think you've already posted on at least one of the 2 threads which already answer your question

Yorkie1

Curious5 wrote: »

Unfortunately, I was caught out by the £160 fee and the HSBC solicitors held the process up and required more information than would usually be necessary (which also cost me more money). Given that HSBC are revoking this policy is there a way I can claim my fee back?

Thanks

No. They were the T&Cs at the time you took out the product, and the solicitors did in fact do the work (however competently or quickly...).