HSBC UK Bank Conveyancing Panel Information

Section 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’.

The Law Society of Scotland has suggested that solicitors should check their panel status with lenders before accepting client instructions to act. The advice is lender-agnostic as it does not relate specifically to solicitors on the HSBC UK Bank conveyancing panel. The suggestion arises from the practice of a number of mortgage lenders who remove solicitors from their panels without prior notice as part of their panel management system, which can lead to some solicitors discovering this only once instructed. This is sensible advice as a client finding out midway through a transaction that their lawyer is not on the approved lender panel is very frustrating and can lead to complaints. Many online consumer forums contain posts where someone is complaining about finding that their lawyer is not on a lender conveyancing panel. Such forums include mumsnet.com

There are many reports available, five of which are as follows:

• Average mortgage advance
• Average time frame to register charges at the Land Registry
• Analysis as to the nature of clients (e.g.existing/new/seen in person)
• Number of conveyancing cases by lender
• Buy to Let transactions

Please tread carefully here as what you are intending may not be acceptable to the lender. It is possible that you (as a non-panel firm) or the mortgage applicant are not at liberty instruct a panel firm of your choice. Lenders such as Nationwide BS make it clear to their panel firms that where a non-panel member firm is instructed by one of their mortgage applicants, the lender must appoint a panel firm to carry out its instructions and to liaise with the borrower's conveyancer. You also need to make the costs implications and potential for delay very clear to your client.

The Law Society’s CQS membership gives 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 join their approved list of conveyancing solicitors. Some mortgage companies now use the scheme as the starting point for Panel membership as is the case with Santander.

You would be advised to communicate with HSBC UK Bank to obtain standard documents. The The Council of Mortgage Lenders Handbook incorporates an individual inquiry for lenders to reveal who to contact to obtain standard documents. HSBC UK Bank in their Part 2’s state: Please remember to quote your HSBC UK Bank conveyancing panel reference.