Hodge Equity Release Conveyancing Panel Example Support Desk Enquires from members of the public
Am I correct in assuming that the fact that my solicitor is not on the Hodge Equity Release Conveyancing panel that there is a problem with the standard of her conveyancing?
That would more than likely be a wrong assumption to make. 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.
I am due to move into my new home next Friday. My conveyancing lawyer has asked me to provide him with a copy of the building insurance for the house as he says that he has to check this in has capacity as lawyer for Hodge Equity Release. What does the insurance need to cover?
All property lawyers on the Hodge Equity Release conveyancing panel would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in Hodge Equity Release’s Part 2 requirements of the CML Handbook (last updated on Hodge Equity Release). Being on the Hodge Equity Release conveyancing panel your lawyer is expect to follow these instructions.
I need to find a Hodge Equity Release panel solicitor in Stirling. Can you assist?
It is not clear why you need a Hodge Equity Release panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to Hodge Equity Release to find out which solicitors in Hodge Equity Release are on their panel. If you do find such a firm not listed please direct them to our site to list. At a fee of one pound per month it is not expensive to register on the site
I was expecting to complete on my first house yesterday. My solicitor is on the Hodge Equity Release solicitors panel but has moved offices in the past couple of months and had not informed Hodge Equity Release of their new address. Hodge Equity Release is now refusing to release my funds as the information from the solicitors isn't correct.
This is as unusual as it is unlucky. The majority of lender Terms of Conveyancing Panel Appointment specifically oblige the solicitor to inform the lender of an address change. Your solicitor needs to treat this with the utmost urgency. Do speak with or register your concern with the senior partner (assuming he or she is not your direct lawyer). Most lenders would be reasonable in this situation and expedite the resolution of this issue. It may be prudent to enlist the help of your local Hodge Equity Release branch or your mortgage broker to see if they can help.
When it comes to lenders such as Hodge Equity Release do solicitors have to be pay a fee to be on the list of approved solicitors?
We are not aware of any lender fees to be on their panel although some do charge an administration charge to deal with the processing of the conveyancing panel application.
We have had an offer accepted on a flat I spoke to a lawyer previously used by my uncle and he recommended instructing a property lawyers approved by Hodge Equity Release. The estate agent recommended two local firms so I asked Hodge Equity Release if the 2 suggested solicitors are approved, which they are not. Hodge Equity Release suggested that either practice can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of Hodge Equity Release 's conveyancing panel solicitors (2) Use the local solicitor and accept there may be delays etc as they go through the approval process.
Enquire of Hodge Equity Release to suggest a law firm in your location. Lenders have them all over the country. You can also use our search tool at the top of this page to search for a lawyer on the Hodge Equity Release conveyancing panel based on location. If you particularly like the sound of one of the local lawyers that you have spoken to ask them if they would go onto Hodge Equity Release conveyancing panel as it may only take about 2-3 weeks. As long as they meet Hodge Equity Release’s requirements it can be a very simple job for the solicitor. Other stuff will be going on in parallel (as you are at an early stage) so it may not delay matters.
After much negotiation I have agreed a price on a house. My mortgage broker suggested a solicitor I paid an upfront payment of 150. Soon after the conveyancers contacted me sheepishly admitting 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.