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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.
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On what basis would a law firm be removed from the Hodge Equity Release approved conveyancing panel?
According to a recent survey report by the solicitors regulator three quarters of law firms had been excluded from a lender panel. The top reasons in order are :
- lack of transactions
- the lawyer is a sole practitioner
- as part of the HSBC panel reduction
- regulatory contact by SRA
- accidental removal. We are not aware of the specific or common criteria for removal by Hodge Equity Release
My solicitor has identified a discrepancy when comparing the assumptions in Hodge Equity Release’s home valuation survey and what is revealed within the conveyancing documents. My lawyer informs me that as he is on the Hodge Equity Release conveyancing panel he is duty bound to check that the lender is OK with this discrepancy and is still content to lend. Is my solicitor’s approach appropriate?
A precondition to being on the Hodge Equity Release approved panel is to comply with the CML Handbook requirements (last updated for this lender on Hodge Equity Release) which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
Are the lawyers identified as being on the Hodge Equity Release conveyancing panel, together with their details provided by Hodge Equity Release?
The firms 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.
I am considering refinancing my house does my lawyer need to be on the Hodge Equity Release Solicitor panel?
In theory, you could use a solicitor that is not on Hodge Equity Release conveyancing panel, but Hodge Equity Release would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
Hi, thinking about buying a house off my mate. Once we agree a price, what’s the best way to move forward? I plan to obtain a mortgage with Hodge Equity Release. Is it possible to avoid using solicitors to save us both money? My dad reckons back in the day he did a lot of it himself, just went into the land registry office and providing them with the info they needed himself
If you are getting a mortgage with Hodge Equity Release involved you will need to appoint a solicitor on the Hodge Equity Release conveyancing panel. We would not encourage you to both use the same solicitors' firm. There are clear conflict of interest issues and it's not going to make a huge difference to the speed of the overall process. So as not to hold things us you should pass on your solicitors details to Hodge Equity Release. Feel free to use our search tool to look for a licensed conveyancer or solicitor on the Hodge Equity Release conveyancing panel.
Planning on purchasing a house with a mortgage with Hodge Equity Release. I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Hodge Equity Release conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that they are on the Hodge Equity Release conveyancing panel
My ex -wife’s name is on the Hodge Equity Release mortgage of my property but not on the land registry. The apartment was transferred to me on our divorce many years ago by way of a sealed court order. Does my ex still have a say on the sale even though the land registry showing the property in my name alone? Will I be required to take her name of the Hodge Equity Release mortgage in order to sell?
As regards the Hodge Equity Release mortgage, it is unusual that your ex-wife’s name remains on the mortgage but not on the title. It is conceivable that this is an oversight on the part of your conveyancers to ensure that her name was removed or even an administrative error on the part of Hodge Equity Release in failing to update their data. In any event, it should cause difficulty providing her name no longer appears on the Land Registry title and you have a court order ordering that the property is transferred to you.