Hodge Equity Release Conveyancing Lender Panel Compliance Tool

COMPLETIONmonitor is web-based pre- and post-completion checklist for property lawyers. Supported by the Council of Mortgage Lenders and professional indemnity insures. It is a unique risk management tool.

This system assists the way you can prove to lender panels that you are, and can remain fully compliant with their requirements, with alerts on Hodge Equity Release’s changes. Even though using COMPLETIONmonitor is not a condition for acceptance on the Hodge Equity Release panel, demonstrating you can stay up to date with Hodge Equity Release’s Handbook requirements is an excellent support to your panel application and, just as importantly, protect your firm’s panel status.

COMPLETIONmonitor generates real-time alerts, automatically produces compliance and CQS reports, and will improve your firm's efficiency. In addition it is simply to use, cost-effective and, for many firms, results in reduced PII premiums.

Find a Law Firm approved by Hodge Equity Release

Banks and building societies often vary their requirements. The UK Finance Lenders’ Handbook requirements from Hodge Equity Release are not guidelines, they are instructions from a client. As with many clients, instructions can change - and they do change, frequently:

A Timeline of Policy Changes

Since 2008, Hodge Equity Release has made 95 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 28.7 days. In total, 7% of the sections of P2 of the UK Finance Lenders’ Handbook for Hodge Equity Release have been changed since 15/12/2008.

To find out more about lender panel compliance,

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Hodge Equity Release Solicitor Panel Recently Asked Questions from members of the public

A solicitor I had intended to instruct on a purchase said she would charge more if my mortgage is with Hodge Equity Release due to their difficult processes! Am I likely to be frustrated 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.
My solicitor is asking me for proof of ID documents saying that this is part of his obligations as a solicitor on the Hodge Equity Release Conveyancing panel. Can this be correct?
Anti-terror and anti-money-laundering rules require solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with before they can accept their conveyancing business. The Client Care letter that you need to sign will no doubt confirm this. Your lawyer is right that Hodge Equity Release also require certain documents to be viewed. If a you refuse to provide ID verification documents, your conveyancer would not be able to accept instructions from you. Your lawyer also has obligations to obtain certain documents in accordance with Hodge Equity Release CML Handbook requirements last updated on Hodge Equity Release
I am buying a house and need a conveyancing solicitor in Birmingham who is on the Hodge Equity Release solicitor. Can you recommend a local firm?
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.
We're in Wales, FTBs purchasing with a mortgage (lender is Hodge Equity Release , but our lawyer is on the Hodge Equity Release conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Hodge Equity Release conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a time-frame for your conveyancing due to third parties outside of our control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain
Is it common for Hodge Equity Release to withdraw a mortgage offer and what would be the reasoning?
Lenders such as Hodge Equity Release can withdraw their mortgage offer although this is unusual. In the unlikely event that Hodge Equity Release withdraw their offer they may or may not inform you or the lawyer as to their reasoning. There are various possible reasons but here are a number of examples:
  • Where information comes to Hodge Equity Release ‘s attention regarding the customers or the security that they were not aware of prior to offer that affects their original decision to lend
  • Many mortgage offers have an expiry date. Your lawyer should check this. Hodge Equity Release may amend or withdraw an offer before the end of its validation period if an offer extension is requested and following a re-evaluation of the property the value of the security is below a level which is acceptable to them.
  • Amendments if purchase price adjusted and the loan to value limits exceeded by this. Please note that Hodge Equity Release conveyancing panel solicitors would be obliged to notify Hodge Equity Release of a change in the price of the property.
  • Where the lender is on notice of a restriction or a right of pre-emption which is not at market value
  • If the solicitor on the Hodge Equity Release conveyancing panel acting for the applicant, borrower, mortgagor or guarantor cannot comply with Hodge Equity Release ‘s instructions
I can not work out if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date . I have called into my local branch Hodge Equity Release on various occasions and told it wasn't a problem 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?
Your lawyer has to follow the CML Handbook Part 2 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 recently had an offer accepted on an apartment. My mortgage broker suggested a solicitor I paid an upfront payment of 175. Soon after the conveyancers contacted me to say that they were not on the Hodge Equity Release conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Hodge Equity Release panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.