View more on these topics

HSBC launches conveyancing panel with Countrywide

HSBC is introducing a panel of conveyancers for its mortgage customers, which will be managed by Countrywide.

The bank will offer customers a number of incentives to use a firm from the panel, such as fixed legal fees and a guarantee that they will not be charged for any legal work undertaken if the sale falls through.

It says customers will still be free to use their own solicitor, but that it will use a firm for the panel to undertake its own legal requirements, and if a customer uses a firm outside the panel, the new process will separate the two pieces of legal work.

Peter Dockar, head of mortgages at HSBC, says: “Our new panel arrangement will spare customers the time and hassle of searching for a firm to do the important conveyancing work on their new property.

“Customers who choose to use a firm on the panel can benefit from agreed conveyancing costs as well as valuable guarantees should the seller pull out. We also believe this will provide additional protection for our customers and HSBC.”

Paul Creffield, corporate operations director at Countrywide, adds: “We are delighted to have been selected by HSBC to manage their conveyancing panel management operations.

“We have the scale to deliver bespoke in-house conveyancing solutions and welcome the opportunity to work with HSBC to safeguard its home buying mortgage customers and minimise any potential risk to the bank.”

Recommended

2

Report lacks focus on elderly care, says MP

The Dilnot Commission report into the funding of care for the elderly does not focus enough on the quality of care older people receive, according to a Conservative MP. John Redwood, chair of the Conservative Party’s economic affairs committee, told BBC Radio 4’s Today programme last Tuesday that the report focuses too much on protecting […]

Payday loans used to fill rent and mortgage gaps

Almost one million people have taken out a payday loan to help keep up with their rent or mortgage payments in the last 12 months, according to research by Shelter. A YouGov survey for the housing and homelessness charity also reveals that 15% of respondents – equating to almost seven million people – are relying […]

Service sector growth brings economic hope

Greater than expected growth in the service sector in December has raised hopes that the UK economy can avoid a contraction in Q4 2011. The Markit/Chartered Institute of Purchasing and Supply Purchasing Managers’ Index recorded a reading of 54 for December, up from 52.1 in November. Readings above 50 indicate growth. Chris Williamson, chief economist […]

A broker’s wish list for the coming year

By and large, 2011 was a pretty good year for the industry. Lending volumes stabilised after the carnage of the previous few years, dual pricing was pretty much behind us and most of the best deals were once again available via the broker market.

Newsletter

News and expert analysis straight to your inbox

Sign up