FAQs : The Hodge Equity Release Conveyancing Panel
from members of the public
Am I correct in assuming that the fact that my solicitor is not isted on the Hodge Equity Release Conveyancing panel that there is a problem with the standard of her conveyancing?
It would not be wise to jump to that conclusion. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should simply call the firm and ask them why they are no longer on the approved list for Hodge Equity Release.
Our lawyer has discovered a defect with the lease for the flat we are buying. The other side have put forward defective title insurance as a workaround. We are happy with insurance and will pay for it. Our lawyer has advised that as he is on the Hodge Equity Release conveyancing panel he must be satisfied that the lender is happy with this solution. Are we the client or is 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 am buying a house and need a conveyancing solicitor in London who is on the Hodge Equity Release conveyancing. Can you recommend a local solicitor?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for Hodge Equity Release . We don’t recommend any particular firm.
I am purchasing a garden flat and getting a mortgage with Hodge Equity Release. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing you will have to appoint a solicitor on the Hodge Equity Release conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to made in you doing to conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on the Hodge Equity Release conveyancing panel in your location.
Are all conveyancing solicitors on the Hodge Equity Release conveyancing panel overseen by the SRA?
As 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 had instructed online solicitors based in London who are on the Hodge Equity Release solicitor panel. They are now charging me a separate fee of £135 for dealing with the Hodge Equity Release mortgage. Is this a supplemental conveyancing fee set by Hodge Equity Release?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitors can charge a fee for this. This fee is not set by Hodge Equity Release but by your lawyers. Some firms on the Hodge Equity Release will charge an ‘acting for lender’ fee and others do not.
I am selling my apartment. I had a double glazing fitted in month 7 but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Hodge Equity Release are being pedantic. The solicitor who is on the Hodge Equity Release conveyancing panel is recommending indemnity insurance as a solution but Hodge Equity Release are insisting on a building regulation certificate. Why do Hodge Equity Release have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Hodge Equity Release have referred the matter to their valuer. The reason why Hodge Equity Release may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing correctly and safely installed. It merely protects against enforcement action which is very unlikely anyway.