Common questions asked concerning the Hodge Equity Release Conveyancing Panel from members of the public
We are hoping to buy a 3 bedroom flat in Leeds with a mortgage from Hodge Equity Release. We have a solicitor but Hodge Equity Release says she’s not on their "panel". We have to appoint one of the Hodge Equity Release panel solicitors or keep our solicitor and pay for one of their panel ones to represent them. We feel as though this is unjust; Can we not simply insist that Hodge Equity Release use our lawyer?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the Hodge Equity Release conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your lawyer to apply to be on the conveyancing panel for Hodge Equity Release
can you help? My solicitor is advising me that she is duty-bound to order a Local Authority search because the firm are on the Hodge Equity Release approved lawyer panel. Is this really necessary?
You have limited options available to you. Given that you are taking out a loan with Hodge Equity Release your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of Hodge Equity Release’s conveyancing panel appointment which obliges them to follow the CML Handbook requirements last updated Hodge Equity Release. even if you were a cash buyer you would be ill advised not to carry out a local authority search.
I see that you have a post code search directory listing solicitors on the Hodge Equity Release conveyancing panel. Do firms pay you a commission if I instruct them for my own conveyancing?
We are a listing service only for law firms wishing to communicate if they are on the Hodge Equity Release conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
I am remortgaging my house does my lawyer need to be on the Hodge Equity Release Conveyancing panel?
In theory, you could use a solicitor that is not on Hodge Equity Release conveyancing panel, but Hodge Equity Release would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
We have had an offer accepted on a house I spoke to a lawyer previously used by my uncle and he recommended using 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 firm 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 for conveyancing panel firms in your area. 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.
I have decided to exercise my right to buy my property off the council. I have a mortgage agreed with Hodge Equity Release. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event if you are getting a mortgage with Hodge Equity Release you will need to appoint a solicitor on the Hodge Equity Release conveyancing panel.
Planning on purchasing a flat with a mortgage with Hodge Equity Release. I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Hodge Equity Release conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that they are on the Hodge Equity Release conveyancing panel