HSBC Conveyancing Panel Information

UK Finance Designator: HSBC Bank plc
Jurisdiction: England and Wales

The information on this page is designed to keep solicitors and licensed conveyancers abreast of latest requirements changes by HSBC and to assist in remaining on the HSBC Conveyancing Panel.

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HSBC Solicitor Panel: Recently Asked Questions

my firm is on the HSBC conveyancing panel. Can I get an archived copy of a HSBC Part 2 from the CML?
The Council of Mortgage Lenders do not keep data sets of the Part 2's pre-December 2010. We would advise that you contact HSBC directly.

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Is there a standard appeals process to prevent solicitors from being unfairly removed them from lender conveyancing panels?
There are thousands of firms across the UK who feel aggrieved claiming that they have been removed from lenders’ panels without an explanation or a good reason. It is highly unlikely, given that lenders have distanced themselves from creating a standardised appeals process for brokers, that an appeals process will be introduced for lawyers. Commenting on the call by brokers to have a standardised process the CML said’ “While we understand that some lenders do have an appeals process, it would not be appropriate for a trade body such as the CML to seek to be prescriptive about such a process.” Some lenders do of course set out an appeals policy. The Law Society does have information on it’s site that may be of assistance. If you would like to talk to one of our compliance experts about our Lender Panel Protection Service please click here.
Am I obliged, being on the HSBC conveyancing panel, to carry out a Lawyer Checker Search, an HS2 search?
HSBC make no specific obligation to carry out any of the searches listed. The UK Finance Lenders’ Handbook simply states that ‘you must ensure that any other searches which may be appropriate to the particular property, taking into account its locality and other features are carried out’.

Please note that most ‘less usual searches’ (as described in the Law Society’s Conveyancing Handbook) are not optional as far as HSBC are concerned if they are ‘appropriate’. Most lenders will not require environmental searches (you should Check Part 2 of UK Finance Lenders’ Handbook to be sure), but you are obliged to explain risks and availability to the borrower.

Ground stability, Plansearch,flood searches as well as the searches listed in the question are optional – but only to the extent that you have allowed the borrower client to make an informed choice. Regardless of whether there is a mortgage, If you have not advised the client that these (and other) searches are available and what risks they cover, then you will be liable if the client suffers loss through not conducting one. Does your ROT and Ts and Cs cover this?

A leading search supplier lists over 72 conveyancing searches – do you know what all of them are and when they may be relevant? If you are unsure as to which searches are appropriate based on location call your search provider or call one of the leading search companies such as STL.

Who do building societies allow to be on their Conveyancing Panels?
In the same way that there is a unique HSBC conveyancing panel most building societies, operate a conveyancing panel for solicitors and other conveyancers that the lender will instruct. Terms and Conditions and criteria for inclusion on a building society conveyancing panel vary from lender-to-lender. Having CQS accreditation may be a requirement. Institutional lenders, such as a building society, is a client and is entitled to instruct the solicitor or conveyancer of its choosing (who, in turn, is free to accept or refuse instructions). Therefore, if lender and borrower cannot agree which solicitor or conveyancer should represent them jointly, they would usually proceed on a separate representation basis. The BSA have not published the equivalent of the UK Finance Lenders’ Handbook Part 3s.
In carrying out leasehold conveyancing do HSBC panel solicitors have to consider if there is an insolvent landlord?
Assuming that your practice in is on the HSBC conveyancing panel and you are representing them in relation to a leasehold property, you must report to them if it becomes apparent that the landlord is either absent or insolvent. If HSBC are to lend, they may require indemnity insurance. In any event,you will need to check HSBC’s specific requirements. Notwithstanding whether HSBC will lend in such circumstances you still need to advise the borrower (unless you are acting for HSBC alone) as to the risks of buying a property with an insolvent or absentee landlord.
Does CQS acceptance secure my firm’s acceptance on to lenders conveyancing panels?
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 firms. Some Lenders now use the Conveyancing Quality Scheme accreditation as the starting point for Panel acceptance as is the case with Astra Mortgages.
Our practice is on the HSBC conveyancing panel and all set to complete a remortgage within the next week. My papers do not include a Legal Charge for the client to execute. Who do I contact at HSBC to request substitute deeds?
You would be advised to get in touch with HSBC to obtain standard documents. The CML Handbook includes an explicit inquiry for lenders to establish who to contact to obtain standard documents. It is likely that you will need to disclose your HSBC conveyancing panel number.
Average number of days to register title including a charge in favour of HSBC
This information relates to purchase only and not remortgages.
YearDays*
2014 8.5
2013 25.5
2012 27.6
2011 37.6
* Data aggregated from sources including COMPLETIONmonitor

Recent Changes Include

# Date Assoc. Changes Related To
14.2.2 21/01/2019 CML
1.11a 30/10/2018 CML
14.2.2 30/10/2018 CML
5.5.3c 22/10/2018 CML
6.7.1 02/08/2018 CML
7.3 02/07/2018 CML
7.3 29/06/2018 CML
5.5.3d 28/06/2018 CML Lack of Planning Permission Indemnity Insurance
5.13.1 01/11/2017 CML Insolvency Act Indemnity Insurance Deed of Gift Indemnity Insurance
10.3 26/10/2017 CML

Last update 08/02/2019

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