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Law Society says HSBC mortgage system threatens house sales
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Law Society says HSBC mortgage system threatens house sales
Hundreds of house sales are at risk under a new mortgage system being used by a high street bank, legal experts have warned. The Law Society of Scotland has called on HSBC to suspend its new conveyancing panel system, which limits the firms that carry out its legal work. The society said the paperwork involved was not fit for purpose and was based on English, rather than Scots, law. HSBC has offered to work with the society to relieve its concerns. The bank said it "strongly believes" its conveyancing documentation is fit for purpose and has been drafted for use in Scotland. The Law Society's warning came after a move last month by the bank to set up a restricted conveyancing panel.....Read more here--: BBC News - Law Society says HSBC mortgage system threatens house salesTags: None
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