HSBC mortgage customers are to be given greater assistance when it comes to legal matters regarding their home loan.
The bank announced a panel of solicitors and licensed conveyancers has been established to provide the services required, with the panel firms offering fixed-rate fees on top of a guaranteed standard of efficiency.
Consumers remain free, however, to continue using their own solicitor or conveyancer to act for them – but a panel company will be selected by HSBC to oversee its legal needs.
Peter Dockar, head of mortgages at the lender, explained the arrangement will benefit customers by ridding them of the hassle involved when choosing a firm to carry out the necessary conveyancing work on their new dwelling.
The industry figure stated: “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.”
He added the move will also offer greater protection for both HSBC – which is named after its founding member, The Hong Kong and Shanghai Banking Corporation – and its users alike.
