HSBC UK Bank Conveyancing Panel Information

Paragraph 16.2.1 of the UK Finance Lenders’ Handbook applicable to a solicitor on the HSBC UK Bank conveyancing panel reads ‘Our mortgage secures further advances. Consequently, when a further advance is required for alterations or improvements to the property we will not normally instruct a member of our conveyancing panel but if you are instructed the appropriate provisions of this Handbook will apply’.

Criteria differ from lender to lender. We do not hold specific requirements relating to the questions raised as part of the application to be on the HSBC UK Bank conveyancing panel. Typically lenders need to have full knowledge of a firm including (but not limited to):

List of all those who fund the firm, including non-lawyers if applicable

Full disciplinary history for each conveyancing solicitor

List of all solicitors within firm

Full career history for each licensed conveyancer including registration date with Council of Licensed Conveyancers

Summary of annual accounts

top-up split and history of any refusals

conveyancer client account(s) details

Number of partners per branch of the firm

Whether the firm has ever accepted instructions in respect of property clubs and investment schemes

and Conveyancing Quality Scheme

You might expect HSBC UK Bank via their Part 2 conditions to address this but the Handbook is silent on time frames. You need to look at the Terms of HSBC UK Bank’s Conveyancing Panel Appointment that you entered into. For a number of banks these Terms contain a provision such as: ‘To keep us informed of the reasons for any delay in your being able to send the title deeds and documents we require to us within 3 months of completion or evidence of proof of registration within that period. (We will send reminders if the deeds have not been received but will not acknowledge receipt of deeds’ It is imperative to keep HSBC UK Bank updated. Law firms can often compound their problems by not communicating with the lender when there is a delay or problem.

HSBC UK Bank approved panel lawyers have to comply with the UK Finance Lenders’ Handbook instructions relating to Transfer of Equity. These are set out in Section 16.3. First, your firm must approve the form of Transfer of Equity (which should be in the Land Registry's standard form) and, if HSBC UK Bank require, the deed of covenant on their behalf. You will need to check HSBC UK Bank CML Part 2 conditions to see if HSBC UK Bank have standard forms of transfer and deed of covenant. Please note that this requirement can change from one transaction to another so do check! Second,When drafting or approving a transfer, you should bear in mind that: although the transfer should state that it is subject to the mortgage (identified by date and parties), it need give no details of the terms of the mortgage; the transfer need not state the amount of the mortgage debt. If it does, the figure should include both principal and interest at the date of completion, which you must check ; there should be no statement that all interest has been paid to date. Further obligations are set out in the UK Finance Lenders’ Handbook which have to be followed by all firms on the HSBC UK Bank conveyancing panel

CQS accreditation is no guarantee to lender panel acceptance. Nevertheless the Council of Mortgage Lenders have indicated that it is likely to become a prerequisite for firms wishing to remain on their approved list of conveyancing solicitors. A number of Lenders now use the scheme as the starting point for Panel membership such as Santander.

You should get in touch with HSBC UK Bank to obtain standard documents. The CML Handbook has an individual question for lenders to enumerate who to contact to obtain standard documents. HSBC UK Bank in their Part 2’s state: Please remember to disclose the firm’s HSBC UK Bank solicitors panel number.