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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.
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
Frequently asked questions relating to the Hodge Equity Release Conveyancing Panel
For what reasons could a firm of solicitors be removed from the Hodge Equity Release approved conveyancing panel?
A survey recently commissioned by the Solicitors Regulatory Authority found that three quarters of solicitor practices had been excluded from a lender panel. The top reasons in order are :
- Low volume 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
Much to my surprise my solicitor is asking me for proof of ID documents stating that this forms part of his retainer as a conveyancer on the Hodge Equity Release Conveyancing panel. This is news to me - can I refuse?
Due to Money Laundering Regulations your conveyancing lawyer is duty bound to confirm positively your identification when entering into a business relationship with you. It is a criminal offense if your lawyer not do this. If you do not provide ID early in the transaction the solicitor must refuse to act for you. It’s unlikely a lawyer will turn you away if you come to the first meeting without relevant ID but you will have to produce it at some point so you might as well bring it with you to the initial meeting so the lawyer can tick the ID verification box and start sorting out the conveyancing straight away. If you are getting a mortgage with Hodge Equity Release your lawyer also has to check ID documents to satisfy Hodge Equity Release
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.
My house is up for sale and I have a buyer. Does my solicitor have to be on the Hodge Equity Release conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Hodge Equity Release conveyancing panel they can still act for you on your sale. it might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
is it true that all solicitor firms on the Hodge Equity Release conveyancing panel overseen by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Hodge Equity Release conveyancing panel they would need to be regulated by the SRA. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
I can not work out if my mortgage offer requires a lease extension . I have telephoned Hodge Equity Release on various 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. Who do I believe?
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.
I was told three weeks ago that my mortgage has been agreed
to by Hodge Equity Release. Is it usual for Hodge Equity Release to only issue the offer once my
solicitor is approved on their conveyancing panel?
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Hodge Equity Release to deal with your lawyers application to be on the Hodge Equity Release conveyancing panel. There's no guarantee that your solicitors will be accepted.
Other Topics
Transfer of Equity for Hodge Equity ReleasePlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors