Law Society comment on HSBC conveyancing panel
We announced yesterday that HSBC and the Law Society were in the final stages of agreeing the process of incorporating Conyeyancing Quality Scheme (CQS) firms onto its mortgage conveyancing panel.
The new process will be piloted on August 14 and rolled out across England and Wales on August 29 2012.
Today the Law Society chief executive Desmond Hudson said: “The Society and HSBC agree that it is essential that all systems and customer communications in relation to the new arrangement are correct and that customers and solicitors benefit from great experience from the outset.
“We both want the arrangement to work which is why we are seeking to make the process as trouble free as possible.
”HSBC will be training all front-line staff to ensure they understand the new option.
Mr Hudson added; “Inevitably, there must be some transitional arrangements and the date when CQS members can start acting for the bank will be linked to the customer application date.
“However, only new customer applications completed on or after August 29 will be included under the new conveyancing process.
“While existing HSBC mortgage customers from before this date will not benefit from the new arrangements, this is a positive development for future HSBC mortgage customers.”