HSBC are forcing their mortgage applicants to use one of a panel of only 43 law firms throughout England and Wales chosen by them to carry out the legal work or face paying more for their conveyancing.
Desmond Hudson, the Chief Executive of the Law Society, said:
"The disabled, those living in rural areas or even those wishing to simply use their family solicitor will either have liittle choice but to opt for the same solicitor as HSBC - one of their panel firms- or pay twice over, for their own solicitor as well as HSBC's legal fees"
This could mean additional costs, longer delays, increased stress and a greater chance of your purchase falling through.
We believe that this restricts client's freedom of choice. For further advice on this please contact one of our Residential Property experts on 01708 784000.
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