Tag: HSBC conveyancing panel
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UKF Mortgage Lenders Handbook Glitch – HSBC UK Bank plc
Queries on HSBC UK’s Part 2 UK Finance Lenders’ Handbook instructions are not returning the correct responses when the “Part 2 only” option is selected. This is owing to a technical issue which the UK Finance Lenders’ Handbook platform provider is working to fix. UK Finance apologises for any inconvenience this might cause. To see…
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HSBC Introduces Independent Advice Requirements for 'Unequal' Borrowers
In a recent change to their CML Handbook Part 2 requirements, HSBC have imposed new obligations on their conveyancing panel when it comes to advising joint borrowers. One might expect Section 8.1 (‘Does the lender allow me to advise any of the specified third parties?’) to focus solely on 3rd parties. Not so in the…
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HSBC – Change to Conveyancing Panel Instructions
HSBC have just made important changes to their CML Handbook Part II instructions. An amendment to section 5.8.1 means that they will no longer accept security which comprises a building converted into not more than four flats where the borrower occupies one of those flats and the borrower or another flat owner also owns the…
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Is the Welcome Mat Gone from the HSBC Conveyancing Panel?
Two years after complaints from customers and lawyers forced HSBC to ditch its controversial plan to drastically reduce their conveyancing panel, confusion reigns as to whether the lender’s panel is, in fact, now closed regardless of whether a firm is accredited by the Law Society’s Conveyancing Quality Scheme (CQS). Recall, HSBC relented and allowed all…
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Lender Exchange Extended to HSBC Conveyancing Panel
Until today most lawyers probably knew that Lender Exchange would be the preferred lender panel portal for Santander, RBS and Lloyds. It’s now clear that HSBC have joined the ‘Big Three’, albeit initially in a slightly more-limited fashion . While HSBC were not mentioned in previous press releases by the CML or Decision First (the…
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Latest HSBC CML Handbook Change will Have Conveyancers Tied up in Knots
What should otherwise be a simple ”yes-or no” question instead stands as just the latest example of how lenders use the CML Handbook to heap more complex and onerous obligations on their conveyancing panel lawyers. But, since nothing is ever simple when it comes to CML Handbook compliance, the question “Does the lender want to…
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HSBC's £100 billion Reversal: Time Proves Sensibility of Panel Change of Heart
HSBC shocked the conveyancing industry in 2012 by requiring mortgage borrowers to instruct one of just 43 firms it named on its approved panel of solicitors. Five months later, complaints from customers and lawyers forced the lender to ditch the controversial plan. Two years on, that reversal is seen as a win for consumers and…