Find a Law Firm
approved by HodgeEquityRelease
Ready to buy a new home? Failing to check that a lawyer is on the HodgeEquityRelease list of approved solicitors can put your transaction at risk of delay or failure.
Looking for information about your firm's panel status?
How does my firm apply to be on the Hodge Equity Release Conveyancing Panel? How can my firm be reinstated onto the Hodge Equity Release Conveyancing Panel?Find an Approved Solicitor on the Hodge Equity Release Conveyancing Panel
FAQs for the Hodge Equity Release Solicitor Panel
I am in the process of selling my house and the EA has just texted me to warn that the purchasers are changing their conveyancer. I am told that this is due to the fact that Hodge Equity Release will only work with solicitors on their conveyancing panel. Why would a major lender only deal with certain lawyers?
UK lenders have always had panels of law firms they are willing to work with, but in the past few years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Lenders blame a rise in fraud as the reason for the cull – criteria have been tightened and a smaller panel should be easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels, or have other concerns about them. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyer’s case. Your purchasers are unlikely to have any sway in the decision.
Much to my surprise my solicitor has requested from me identification documents saying that this is part of his legal duty as a solicitor on the Hodge Equity Release Conveyancing panel. Is this right?
Anti-terror and anti-money-laundering rules require solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with before they can accept their conveyancing business. The Terms and Conditions that you need to sign will no doubt confirm this. Your lawyer is right that Hodge Equity Release also require certain documents to be viewed. If a you refuse to provide ID verification documents, your conveyancer would not be able to accept instructions from you. Your lawyer also has obligations to obtain certain documents in accordance with Hodge Equity Release CML Handbook requirements last updated on Hodge Equity Release
Are the lawyers identified as being on the Hodge Equity Release conveyancing panel, together with their details provided by Hodge Equity Release?
The law firm practices themselves provide us confirmation that they are on the Hodge Equity Release conveyancing panel as opposed to being supplied with a list from Hodge Equity Release directly.
My grandmother passed away last year and as sole heir and executor was left the property. The house had a small mortgage left on it of around £4500. I want to have the title changed into my name whilst I re-mortgage to Hodge Equity Release , pay off the mortgage etc. Is this allowed?
If you intend to re-mortgage then Hodge Equity Release will insist on your using a conveyancer on the Hodge Equity Release conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Hodge Equity Release conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Hodge Equity Release mortgage is registered as a charge at the Land Registry.
My husband and I are in the throws of viewing apartments and now considering a potential offer. Should I already have a conveyancer appointed at this stage? I I am planning to take a mortgage with Hodge Equity Release
You should start obtaining conveyancing quotes from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on the the EA. As you are getting a mortgage with Hodge Equity Release , make sure you remember to check that your lawyer is on the Hodge Equity Release conveyancing panel.
I currently have a mortgage with with Hodge Equity Release. Conveyancing was finalised a year ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Hodge Equity Release?
You must advise Hodge Equity Release before renting your property as this is likely to be a breach of Hodge Equity Release’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Hodge Equity Release directly. You need not do this via a Hodge Equity Release conveyancing panel solicitor.
My offer on house has been accepted, but there is a chain. The vendors have offered on somewhere, but not been accepted yet, and have viewings of other properties booked. My conveyancing solicitor has been instructed. What do I do now? When should I get the mortgage app going with Hodge Equity Release?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx £1k, then survey/valuation, conveyancing search costs, etc). First you should check that your solicitor is on the Hodge Equity Release conveyancing panel. As to the next stages this very much depends on the circumstances of your case, desire for this property and on the state of the market. In a hot mortgage some buyers would pally for the mortgage with Hodge Equity Release and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.
Other Topics
Transfer of Equity for Hodge Equity ReleasePlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors