Wolverhampton Law Society: February 2012

Friday 24 February 2012

HSBC e-petition

A petition has been set up on the Government web site urging HSBC to drastically increase the size of its Conveyancing Panel.

You can read the petition and add your name by visiting:-

http://epetitions.direct.gov.uk/petitions/29948

Thursday 23 February 2012

Wolverhampton Law Society Interest Rate Survey 2012

In 2010 the Wolverhampton Law Society carried out a survey of member firms to find out what rates of interest their Banks were paying on Clients General Deposit Account and Designated Deposit Accounts. The results of the survey were collated on an anonymous basis so that the rates achieved could not be attributed to the particular firms in question. They were then published to those participating so as to better inform their negotiations with their account providers. The results were “interesting” to say the least and it is believed that armed with this information some firms were successful in negotiating better terms from their Banks.

In view of the success of the previous survey the Council has decided to repeat the exercise. So far the following firms have agreed to take part:-

Underhills Rees Page FBC Manby Bowdler R S Gough & Co

Rowland Tildesley and Harris Thornes

Other member firms are invited to take part by completing the following return and sending it in an envelope marked “Confidential” to Andrew Lund Wolverhampton Law Society c/o Rees Page 8-12 Waterloo Road Wolverhampton WV1 4BL or by e-mail to alund@reespage.co.uk

Please note - the publication of the results will be limited to those firms that take part.

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Tuesday 21 February 2012

HSBC – the fight continues

Here are copies of the latest exchange of correspondence between the Society and HSBC.

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Many of you will have seen the reports about the undertakings that HSBC Panel firms are seeking to extract from Purchasers’ solicitors but it is also apparent that they are seeking similarly onerous terms from those acting for Sellers. If you are involved in a chain where HSBC are providing finance then you are likely in for a bumpy ride. Estate Agents and Clients will need educating.