HSBC is to introduce a conveyancing panel to provide legal services to its mortgage customers.
Customers are free to use their own solicitor or conveyancer to act for them but HSBC will use a panel firm to undertake its own legal requirements.
HSBC has selected Countrywide to manage the panel of solicitors and licensed conveyancers. The panel will launch on January 9.
Fees range from £399 for property worth up to £100,000 to £549 for properties worth between £300,000 and £500,000.
HSBC head of mortgages Peter Dockar says: “Our new panel arrangement will spare customers the time and hassle of searching for a firm to do the important conveyancing work on their new property.
“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. We also believe this will provide additional protection for our customers and HSBC.”