From this autumn HSBC has agreed that all Licensed Conveyancers will automatically be able to act for the Bank.
As long as the conveyancer is currently licensed by the Council for Licensed Conveyancers (CLC), the only restriction will be on sole practitioners who are limited to cases with mortgages below £150,000, which is in line with HSBC’s usual practice.
Once HSBC is ready to go live, each Licensed Conveyancer firm will need to register users on a system to receive instructions electronically, which will not require any special software and is free to use.
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 await a detailed announcement from the CLC in the autumn and not to contact HSBC or tell clients that they can act for HSBC until that time.
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