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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.

Find an Approved Solicitor on the Hodge Equity Release Conveyancing Panel

Frequently asked questions relating to the Hodge Equity Release Conveyancing Panel

The lawyer I wanted to use for conveyancing on a remortgage said he will levy higher legal fees if my mortgage is with Hodge Equity Release because of their unusual legal requirements. Will I regret using Hodge Equity Release? Any comments will be appreciated
Hodge Equity Release conveyancing requirements for their panel are no better or no more complicated than most lenders. It is the case now the CML Handbook, the "bible" used by solicitors to establish lender requirements, is different for each lender. It is not clear if your lawyer is on the Hodge Equity Release conveyancing panel. If they are not, this does add further risk of delay as Hodge Equity Release will appoint their own solicitors to look after their interest.
Our solicitor has identified a problem with the lease for the apartment we are purchasing. The seller’s lawyers have offered defective title insurance as a workaround. We are happy with insurance and will pay for it. Our solicitor says that as he is on the Hodge Equity Release conveyancing panel he must ensure that the lender is happy with this solution. Who is the client here, us or Hodge Equity Release?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and Hodge Equity Release are the client. 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). The CML Handbook conditions require your lawyer to disclose issues such as defects will the lease so that Hodge Equity Release can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . 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.
I see that you have a search directory identifying solicitors on the Hodge Equity Release conveyancing panel. Do firms pay you a commission if I instruct them for my house purchase?
We are a listing service only for law firms wishing to communicate if they are on the Hodge Equity Release conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
My grandfather passed away 10 months ago and as sole heir and executor was left the property. The house had a relatively small loan left on it of around £8000. 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 possible?
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.
When it comes to lenders such as Hodge Equity Release do solicitors have to be pay a fee to be on the conveyancing panel?
We are not aware of any lender fees to be on their panel although some do charge an administration charge to deal with the processing of the conveyancing panel application.
I can not work out if my mortgage offer requires a lease extension . I have called Hodge Equity Release on numerous occasions and was told they are content with the situation and they would lend. My solicitor - who is on the Hodge Equity Release conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. I simply dont know who is right
As long as the conveyancer is on the Hodge Equity Release panel she or he must comply with the CML Handbook requirements for Hodge Equity Release. Unless your lawyer obtains specific confirmation in writing that Hodge Equity Release will go ahead your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask Hodge Equity Release to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.
At last I have had an offer on an apartment accepted, but there is a chain. The vendors have offered on somewhere, but not been accepted yet, and have viewings of other properties in the pipeline. 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.