HSBC Mortgage Panel

JohnWalsh

Hi,

I've recently agreed to buy a property and have been accepted in principle for a mortgage by HSBC. I've been completing the rest of the mortgage application and it's asked me which solictor I want to use. If I use my own then I have to pay HSBC £295 towards their costs. Or I can just use their Mortgage Panel (which is £500 + fees) and therefore no additional £295 cost.

Every review I've looked at says that their mortgage panel (specifically countrywide) are terrible. The problem is that even if I use my own solicitor then I need to pay for HSBC to use them (because I'm in Northern Ireland). So either way I still end up with countrywide being involved in the process.

The house we've finally agreed has taken a year to agree and I'd hate for it to all fall apart because of delays I can't do anything about. Has anyone been through this before: is there a way to speed up countrywide? Am I best getting them to act as my solictor since they are involved for HSBC no matter what? Are they so bad I'm better going with a different mortgage provider even though HSBC is the cheapest?

Any advice would be greatly appreciated.

Thanks,

John.

Thrugelmir

JohnWalsh wrote: »

Every review I've looked at says that their mortgage panel (specifically countrywide) are terrible.

Why not find out what solicitors are available to you. Rather than being judgemental beforehand.

martin.cat

We have a mortgage with first direct which is hsbc. Fortunately our small local solicitor was on their panel. We never paid hsbc anything for legal costs
The only fee was to upgrade the free valuation survey t the homebuyers report which was around £235
Our old mortgage with NRAM Northern Rock was discharged with another solicitor undertaking that bit as ours was no longer o their panel. This cost £95 which our solicitor reduced their fee to cover

kingstreet

I thought HSBC accepted any CQS accredited firm now?

More here;-

http://www.hsbc.co.uk/1/2/mortgages/conveyancing-options

Is there a reason you are expecting to have to use a panel member, such as the size of the mortgage?

SmlSave

We are a small 2 partner firm of solicitors and are on hsbc panel, I'm afraid your info is out of date op and any cqs firm can act like kingstreet said.

Get talking to some other sols and see who you like

davidmcn

kingstreet wrote: »

I thought HSBC accepted any CQS accredited firm now?

More here;-

http://www.hsbc.co.uk/1/2/mortgages/conveyancing-options

Is there a reason you are expecting to have to use a panel member, such as the size of the mortgage?

SmlSave wrote: »

We are a small 2 partner firm of solicitors and are on hsbc panel, I'm afraid your info is out of date op and any cqs firm can act like kingstreet said.

The OP said they're in Northern Ireland (CQS is a Law Society of England & Wales thing) so I presume HSBC haven't expanded their panel there (I'm not aware of them having done so in Scotland either).

kingstreet

davidmcn wrote: »

The OP said they're in Northern Ireland (CQS is a Law Society of England & Wales thing) so I presume HSBC haven't expanded their panel there (I'm not aware of them having done so in Scotland either).

Thank you. Missed that.

Too flipping early it was. Wasn't thinking or reading straight.

JohnWalsh

Hi,

Thanks for the replies so far. Since we are in NI we can't use our solicitor to cover both ourselves and HSBC. As someone mentioned maybe the reviews I read about the HSBC panel are out of date (most were from circa 2012 but they are still a few recent ones).

I'll try and find out who they have on the HSBC panel to represent me and see if they have a good reputation before making a final decision.

Thanks to everyone who took the time to reply.

John.