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Residential conveyancing solicitors news – HSBC criteria

20th April 2012

Martijn van der Heijden, HSBC’s head of lending comments, “Our primary concern is to provide choice to our mortgage customers and for them to benefit from an efficient conveyancing service.

“We welcome all Law Society CQS-accredited firms onto the panel providing they can offer our customers the benefits we have introduced including competitive fixed fees, a no sale/no fee guarantee and electronic 24-hour case tracking.”

Furthermore, any residential conveyancing solicitors who wish to be on the lucrative HSBC list must comply with a number of other important criteria, including the requirement that they are registered with either the Solicitors Regulation Authority or the Council of Licensed Conveyancers.

Importantly, members should also have professional indemnity insurance of up to £2 million. Another crucial aspect of the criteria is experience – panel firms must demonstrate that they have completed a minimum of 250 conveyancing transactions over two years.

In the event that a buyer wishes to instruct a residential conveyancing solicitor not on the HSBC panel, the mortgage lender will charge for the privilege.

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