Hodge Equity Release Conveyancing Panel Sample Enquires to our Call Center
from members of the public
Is the fact that my conveyancer is not on the Hodge Equity Release Conveyancing panel that there is a problem with the quality 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 top 3 reasons are as follows: (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.
My fiance and I intend to remortgage our penthouse 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. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the apartment is forfeited by the lender. I have a couple of concerns (1) Is this document specific to the Hodge Equity Release conveyancing panel as he never had to sign this form when we purchased 3 years ago (2) Does our son by signing this giving up his rights to inherit the property?
First, rest assured that your Hodge Equity Release conveyancing panel solicitor is doing the right thing 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.
What tools are available to search for a local solicitor on the Hodge Equity Release conveyancing panel? I have a car and am prepared to travel up to 25 miles to meet the lawyer.
Feel free to make use of the find a conveyancing panel tool on this website. Please choose the lender and your location and you will see a number of lawyer located nearest you. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the Hodge Equity Release solicitor panel.
My grandmother passed away six months ago and as sole heir and executor was left the property. The house had a small mortgage left on it of around £8000. I want to have the title changed into my name whilst I re-mortgage to Hodge Equity Release , pay off the mortgage etc. Is this allowed?
If you intend to re-mortgage then Hodge Equity Release will insist on your using a conveyancer on the Hodge Equity Release conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Hodge Equity Release conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Hodge Equity Release mortgage is registered as a charge at the Land Registry.
We have a mortgage agreed in principle with Hodge Equity Release. Solicitors have been instructed? How long does it take for Hodge Equity Release to send the offer to our conveyancer
Some lenders take longer than others. Have Hodge Equity Release done the valuation? Have you advised Hodge Equity Release as your lawyers details and checked that your lawyer is on the Hodge Equity Release conveyancing panel? sometimes it can take as long as six weeks for a mortgage offer to be issued
I am buying a property where the roof has a solar panel. Hodge Equity Release have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As you are obtaining a mortgage with Hodge Equity Release your lawyer must to check the Hodge Equity Release conveyancing instructions contained in the Part of CML Handbook for Hodge Equity Release . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to Hodge Equity Release where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. Requirements for Scotland are due in the near future.
I'm spending time viewing apartments and now considering a potential offer. Is it best to have a conveyancer on ‘stand by’? I I am planning to take a home loan with Hodge Equity Release
It would be sensible to have your start your search soon rather than later. 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 EA. 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.