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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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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
Common questions asked concerning the Hodge Equity Release Solicitor Panel
My IFA has has requested my lawyer’ panel member for the Hodge Equity Release conveyancing panel. How do I obtain this. I have tried my local Hodge Equity Release branch but they have not responded to me.
You are best placed to get this information from your conveyancing lawyer. They should have a central record lender panel numbers including the Hodge Equity Release panel reference.
My partner and I intend to remortgage our flat with Hodge Equity Release. We have a son 19 who lives with us. The solicitor on the Hodge Equity Release conveyancing panel has asked us to disclose any adults other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the apartment is forfeited by the lender. I have two concerns (1) Is this document specific to the Hodge Equity Release conveyancing panel as he never had to sign this form when we purchased 5 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Hodge Equity Release .This is solely used to protect the Hodge Equity Release if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave.
It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Hodge Equity Release had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
I have checked your search tool I can't find the lawyer I was hoping to instruct as being on the Hodge Equity Release conveyancing panel. My lawyer has said that they are on the Hodge Equity Release approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the Hodge Equity Release conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the Hodge Equity Release solicitor panel.
What happens if my solicitor is expelled from the Hodge Equity Release Conveyancing panel before completion?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have ti instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by the regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
Do most lenders operate their own panel of solicitors?
Many lenders do operate a restricted conveyancing panel but a lot of lenders allow any solicitors to join their panel so long as they meet their criteria. Each lender sets their own criteria. For example the Hodge Equity Release conveyancing panel requirements are different to Hodge Equity Release’s conveyancing panel criteria.
My husband and I are spending time viewing apartments and now considering a potential offer. Is it premature to have a solicitor in place? I intend to finance via a mortgage with Hodge Equity Release
You should start obtaining conveyancing quotes from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their details on the the estate agent. 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.
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 booked. My conveyancing solicitor has been instructed. What do I do now? At what point should I appy for the mortgage 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