31 July, 2014
HSBC has agreed that, beginning this autumn, all Licensed Conveyancers will automatically be able to act for the Bank as long as they are currently licensed by the CLC. The only restriction is in respect of sole practitioners who are limited to cases where the mortgage does not exceed £150,000, in line with HSBC’s usual practice.
In respect of the mechanics, once HSBC is ready to go live, each Licensed Conveyancer firm will need to register users on a system that will allow instructions to be sent electronically. This will not require any special software and should be a straightforward process. There will be no cost to the Licensed Coneyancer.
The CLC will provide regular data feeds to HSBC to keep them fully informed of any change to Licensed Conveyancer firms’ status.
Current arrangements will stay in place until HSBC is ready to go live with the new process. Licensed Conveyancers are asked to please await a detailed announcement from the CLC in the autumn and not to contact HSBC until that announcement has been made or tell clients that they can act for HSBC until that time. If you have any questions, please write to CEO@clc-uk.organd not HSBC as they prepare the new process.