Q and A’s regarding the Hodge Life Conveyancing Panel
from members of the public
My lawyer is not on the Hodge Life Conveyancing Panel. Can I still use my preferred solicitor even though they are excluded from the Hodge Life panel of approved conveyancing solicitors?
You have a number of options available to you here:
- Carry on with your preferred solicitors but Hodge Life will need to instruct a lawyer on the Hodge Life conveyancing panel. This will result in additional cost and potential delay.
- Get a new solicitor to act in the purchase, obviously checking they are on the Hodge Life conveyancing panel.
- Urge your lawyer to apply to join the Hodge Life lender panel
My solicitor has discovered a difference when comparing the information in Hodge Life’s home valuation survey and what is in the title deeds. My lawyer has advised that as he is on the Hodge Life conveyancing panel he is obliged to check that the bank is happy with this discrepancy and is still content to lend. Is my conveyancer’s approach right?
A precondition to being on the Hodge Life approved panel is to comply with the CML Handbook requirements (last updated for this lender on Hodge Life) which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. 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 purchasing a flat and need a conveyancing solicitor in who is on the Hodge Life approved. 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 Life . We don’t recommend any particular firm.
I am selling my house. Does my solicitor have to be on the Hodge Life conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Hodge Life conveyancing panel they can still act for you on your sale. it might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
Are all Conveyancing Quality Solicitors on the Hodge Life conveyancing panel?
Some major lenders now use CQS as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of conveyancing solicitors.
I had instructed online conveyancers located in London who are on the Hodge Life solicitor panel. They are now charging me a separate fee of £135 for the legal aspects of the Hodge Life mortgage. Is this an additional conveyancing fee set by Hodge Life?
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 Life but by your lawyers. Some firms on the Hodge Life will charge an ‘acting for lender’ fee but plenty of firms include it on their overall fee.
For 5 years I had a mortgage with Hodge Life. My father retired last week and wants to pay off the mortgage left on the property. After Hodge Life is paid, I want to transfer the property to my mother's name; How long will it roughly take? Do we need two separate solicitors on the Hodge Life conveyancing panel? I do not intend to live at the property once the Hodge Life mortgage is discharged.
Although you do need to retain the services of a lawyer they dont
need to be on the Hodge Life panel.
You will need a solicitor to draw up the transfer and
to deal with the Land Registry formalities. The only thing you need to
consider is that by selling at an undervalue so ask your lawyer about
the implications. There could be an inheritance tax issue if you die
within 7 years of this. There's no capital gains tax for you as it is
your main residence.