Experience with HSBC and LMS while remortgaging

hopeitwill

Hi everyone,

My partner and I are trying to remortgage with HSBC and we went for the free legal service because our case is a very straightforward case that could be completed quite fast.

I believe HSBC instructs LMS who then assigns a conveyancer to your case, but our conveyancer turned out not to have digital deed capabilities and honestly we don't have anyone who would witness a signature for us, we're both foreigners who don't really have people in our lives here, all our family and friends are abroad.

When we first mortgaged the house, our broker did the witnessing but we're not using a broker this time.

I'm trying to get LMS to instruct a conveyancer who has digital deed capability but they're asking me to find a solicitor myself. Do they only have access to 1 conveyancer? Did anyone go through this with LMS?

We just don't want to deal with unnecessary paperwork and uncomfortable conversations.

Many thanks for any advice we can get.

Hoenir

Work colleagues could witness. 

hopeitwill

Well we work remotely - so not really an option really. Most of our colleagues are abroad in EU.

ACG

LMS are not a conveyancer. They are sort of a middle man to register conveyancers. 
You coudl call LMS and see if they have a list of conveyancers? There will be loads but maybe see if they can help in any way? 

hopeitwill

They are refusing to help in any way according to their last email as they would not be reassigning our case to a different firm, so we're probably going to stay with our current mortgage provider - hoping to get a better rate than what we've been offered with - which is above market rates.
We have not realised what the hassle of a remortgage could be when changing providers, entirely our mistake.

newdriver101

Can you ask a neighbour?

hopeitwill

newdriver101 said:

Can you ask a neighbour?

Not really, we live in a detached house, away from neighbours  

Hoenir

Rather than remortgaging might be simpler to chose a new product from your exising lender. 

Alternatively pay for the services of a solicitor on HSBC's panel that is in your locality. 

hopeitwill

Hoenir said:

Rather than remortgaging might be simpler to chose a new product from your exising lender. 

Agreed, will ask for a new valuation and do that. HPI is way below what the house would be worth at a sale.

itmakessense

LMS are the most unhelpful bunch you coukd ever wish to meet. From a solicitor perspective they are the most arrogant and unhelpful bunch too. Lenders use them because it means all paperwork can be dealt with through their portal and the lenders just pass the buck. LMS charge the solicitors for the privilege for every matter and then threaten them if they dont meet all deadlines such as post completion documents such as Land reg. They persistently nag for over a year on each matter as they do not take into account that since covid land Reg can take well over a year!

It is a shame that lenders do not understand what an awful company LMS are when they could use a much better set up that is lender exchange who are actually helpful!