HSBC UK Smart COT Solution
HSBC are pleased to announce the introduction of their new Smart COT service. The information below is supported by further information on the Smart COT document and via the HSBC FAQ’s page of LMS Conveyancer Zone. The new HSBC Smart COT service is designed to improve HSBC’s processing of submitted COT’s facilitating new automation that hadn’t been possible under the previous process. We hope the new service will improve the efficiency of the COT submission for our panel firms and provide more certainty around submission and receipt.
HSBC UK Smart Certificate of Title summary
(HSBC Smart COT)
• COTs submissions for England, Wales and Scotland MUST be via a Smart COT form from 22/06/2020
• The latest version of the Smart COT must be used on every occasion, the document is produced and provided by HSBC.
• LMS will host the latest version of the Smart COT for you to download from LMS Conveyancer Zone.
• To submit the Smart COT, all fields within the document must be completed in the format required.
• When all fields are correctly completed, select the Validate button.
• The COT is intended to identify if there are any amendment or errors that require attention.
• If there are no amendments required, the ‘send to bank’ button will appear.
• When selected this will open your default email program where you will be able to send the COT.
• The Smart COT is part of a digital service and must be the final item outstanding, no other legal queries/documents will be accepted by HSBC within the Smart COT submission email.
• Smart COTs must be submitted at least 6 days in advance of the actual completion date, no more than one (1) working day prior to completion.
• Delayed completion: If completion does not occur on the date specified on the Smart COT you must call HSBC immediately on 0370 600 7722 to advise.
Further information can be found at lmsuk.com and by downloading a copy of the Smart COT document via the lender documents section of LMS Conveyancer Zone.
If you require further clarity on the use of the Smart COT or information about the process, please contact HSBC UK Bank directly.