HSBC - how bad are they reallly

FEvans

I have found a great deal on a new mortgage which has no fees.

However HSBC will want their own agents to deal with the mortgage. (as well as charging me for the pleasure)

I understand that their "agents" are not very well regarded.

I actually am a partner in a law firm and after speaking to some of my conveyancing fee earnings they have told me to stay clear of HSBS as their "agents" are a nightmare to deal with ie delays, multiple requests for documents, missed completion dates etc.

Does anyone have anything good to say about them as their deal is very good

Senior_Paper_Monitor

They want to charge you - must come us a shock to a solicitor :eek:


But on a serious note - they don't as such (no fees is the clue)

harvey115

I have heard on this forum that HSBC is acting very slow due to the decision they took to use Countrywide as their panel.

However I hear that now you are able to choose from a wider list of solicitors who are CQS approved. You should check this with the lender and if the deal is not running away due to delays, I think its a goo option as the interest rates on the deals are very nice.

PS - HSBC has one of the strictest lending criteria!

Thrugelmir

FEvans wrote: »

Does anyone have anything good to say about them as their deal is very good

That's what matters financially.

HSBC may well the least of your problems during the house buying/selling process. So I wouldn't be overly concerned about recent events. Which as already been commented on has been changed.

Yorkie1

See this thread for why HSBC / Countrywide have had such a bad press:
https://forums.moneysavingexpert.com/discussion/3840017

At present, your choices are:

1. Go with one of their panel solicitors (only about 37?) in England. Fixed fees but mixed views about their competence.

2. Go with your own solicitor. Also pay £192 for the privilege of one of the most incompetent outfits to represent HSBC's interests - Countrywide.

From next month (i.e. it has not yet happened), HSBC will widen their panel to include any solicitors firm which has CQS accreditation. This should improve matters greatly but I don't think there will be fixed fees. If the firm is a sole practitioner, the limit of lending is I think to be £150K.

Read your back issues of the LS Gazette for more info.

Gentoo365

Premier Property Lawyers (trading as 1stpropertylawyers) are on HSBC panel. I have used them and they are o.k. Check to see if HSBC are still fine with them.

They are conveyancers rather than a solicitors. They don't really give any legal opinion on anything, just let you see the documents online and follow the process, but seen as all you need is someone to deal with the paperwork then it is an option.

Alternatively First Direct offer similar products yet are more flexible on the legal side (any firm with two regulated principals I think). So you could look there.

FEvans

Gentoo365 wrote: »

Premier Property Lawyers (trading as 1stpropertylawyers) are on HSBC panel. I have used them and they are o.k. Check to see if HSBC are still fine with them.

They are conveyancers rather than a solicitors. They don't really give any legal opinion on anything, just let you see the documents online and follow the process, but seen as all you need is someone to deal with the paperwork then it is an option.

Alternatively First Direct offer similar products yet are more flexible on the legal side (any firm with two regulated principals I think). So you could look there.

good news my firm is a CQS member - looks like i will wait until August then :j

bigadaj

Gentoo365 wrote: »

Premier Property Lawyers (trading as 1stpropertylawyers) are on HSBC panel. I have used them and they are o.k. Check to see if HSBC are still fine with them.

They are conveyancers rather than a solicitors. They don't really give any legal opinion on anything, just let you see the documents online and follow the process, but seen as all you need is someone to deal with the paperwork then it is an option.

Alternatively First Direct offer similar products yet are more flexible on the legal side (any firm with two regulated principals I think). So you could look there.

They might be ok but they sound as dodgy as hell, do they also trade as conveyancing4u?

Gentoo365

bigadaj wrote: »

They might be ok but they sound as dodgy as hell, do they also trade as conveyancing4u?

They trade as a few names. They also do some business via estate agents (under myhomemove I believe). Going direct though the price is always cheaper, as you would expect.

You get what you pay for I suppose.

However if you know the process, and a simple purchase/sale and just need a licensed conveyancer to do the paperwork then they are fine.

They are on HSBCs panel, which is the main thing here though.

Bluemeanie_2

Is this for a remortgage from a different company? I remortgaged with HSBC and they used Grindey's for my "fee free" package. it went fine. I think it might be a house purchase/sale that has been causing the problem. (sure someone will correct me if I'm wrong)