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approved by HodgeLife
Ready to buy a new home? Failing to check that a lawyer is on the HodgeLife 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 Life Conveyancing Panel? How can my firm be reinstated onto the Hodge Life Conveyancing Panel?
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FAQs for the Hodge Life Conveyancing Panel
My financial adviser has asked me for my law firm’s panel reference for the Hodge Life conveyancing panel. What is the best way to discover this. I have contacted my local Hodge Life office but they have not got back to me yet.
You are best placed to get this information from your conveyancing lawyer. A law firm is likely to keep a file or database of lender panel information which would include, if applicable their conveyancing panel details for Hodge Life.
I am purchasing a new build duplex and my solicitor is advising me that she is duty bound to reveal incentives from the developer as her firm is on the Hodge Life conveyancing panel. I am nearing the developer’s deadline to sign contracts and I would rather not prolong deal. Is my lawyer right?
You should not exchange unless you have advised to do so by your lawyer. A precondition to being on the Hodge Life approved panel is to comply with the CML Handbook requirements (last updated for this lender on Hodge Life). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Do all the firms listed on your search have online case tracking as I was under the impression that this was a precondition of being on the Hodge Life solicitor panel?
No. There is no CML Part 2 or Building Society Association requirement relating to online case tracking. Some law firms operate such technology and some don't.
The solicitors that I appointed last week on my house acquisition in Newcastle has without warning shut down. They were on acting for me because I needed a solicitor on the Hodge Life conveyancing panel and my preferred lawyer was not. I gave them a cheque for £150 in advance. What do I do now?
Assuming that you have an Estate Agent in the equation then let them know straight away so that they can let the sellers know that there may be a slight delay due to the problems encountered. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Hodge Life conveyancing panel and notify the lender. If you have paid over any money it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers should be in a position to help
What are the common reasons for a lender such as Hodge Life to withdraw a mortgage offer?
Lenders such as Hodge Life can withdraw their mortgage offer although this rarely happens. should Hodge Life withdraw their offer they may or may not inform you or the lawyer as to their reasoning. There are many potential reasons but here are a number of examples:
- If the borrower informs Hodge Life of a change in the loan amount agreed
- Situations where information provided by the borrower that enabled the lender to make a lending decision is fraudulent, incorrect or misleading.
- Where the purchase price and borrowers direct contribution differ to details on the mortgage application form completed by the borrower
- Following advice from the valuer on their lender panel or If the lender has doubts about the effectiveness of the valuation as a result of subsequent events or information received post valuation but pre completion
- Where the sale is not at arms length for value to unconnected persons
We expect to receive a DIP from Hodge Life this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc).Do the Hodge Life recommend a solicitor on the Hodge Life conveyancing panel, or is it better to find our own lawyer
You will need to appoint solicitors independently although you'll need to choose one on the Hodge Life conveyancing panel. The solicitor represents both you and the Hodge Life through the process.
Planning on purchasing a house with a mortgage with Hodge Life. I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Building Society 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 Life 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 Life conveyancing panel
Other TopicsTransfer of Equity for Hodge Life
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