The Law Society and HSBC announced an agreement whereby HSBC will amend its conveyancing approach to enable all solicitors accredited with the Law Society’s Conveyancing Quality Scheme (CQS) home-buying quality mark to act for HSBC as well as its mortgage customers.
As a proud holder of the Law Society’s Conveyancing Quality Scheme award, G M Wilson are once again able to act on behalf of you and the bank during the conveyancing process.
Previously only firms on HSBC’s managed panel of conveyancers would be able to act for both the borrower and the lender, with all other firms able to act for the borrower only. The new arrangement will be introduced in August 2012.
All CQS firms will be able to act for HSBC. From the outset, CQS-accredited sole practitioners will be able to handle all cases with mortgage values up to £150,000. The Law Society and HSBC will continue to work together to raise this value for CQS sole practitioners.
Recognising the merit in some of the different requirements HSBC currently has for its panel, the Law Society has invited HSBC to assist it in further developing the CQS assessment scheme so that it becomes the automatic requirement for a firm to join a mortgage lenders conveyancing panel. HSBC has suggested the Law Society consider inviting other mortgage lenders to assist the Law Society in this respect, a proposal the Society was delighted to accept.
Our property team are experts on buying a house and so if you would like to know more please contact us.