Hodge Conveyancing Lender Panel Compliance Tool

Lexsure’s COMPLETIONmonitor is an online pre- and post-completion checklist for property lawyers. Supported by the Council of Mortgage Lenders and PI insurers. It is a unique risk mitigation tool.

This system optimises the way you can prove to lender panels that you are, and can remain fully compliant with their instructions, with alerts on Hodge’s changes. Even though utilising the tool is not a prerequisite for Hodge , demonstrating you can stay up to date with Hodge’s Handbook requirements is an excellent support to your panel application and, just as importantly, safeguard your firm’s panel standing.

The system generates real-time alerts, automatically produces COLP and CQS reports, and will improve your firm's efficiency. In addition it is simply to use, cost-effective and, for some firms, leads to a PII saving.

Find a Law Firm approved by Hodge

Mortgage companies often vary their requirements. The UK Finance Lenders’ Handbook requirements from Hodge are not guidelines, they are instructions from a client. As with many clients, instructions can change - and they do change, over time:

A Timeline of Policy Changes

Since 2008, Hodge has made 65 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 42.0 days. In total, 31% of the sections of P2 of the UK Finance Lenders’ Handbook for Hodge have been changed since 15/12/2008.

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Examples of recent questions relating to the Hodge Life Solicitor Panel from members of the public

My lawyer is not listed on the Hodge Life Solicitor Panel. Is it possible for me to continue with my preferred solicitor notwithstanding that they are excluded from the Hodge Life panel?
You have a number of options available to you here:
  1. Carry on with your existing lawyers but Hodge Life will need to instruct a lawyer on the Hodge Life conveyancing panel. This will result in additional cost and potential delay.
  2. Get a new solicitor to act in the purchase, obviously checking they are on the Hodge Life conveyancing panel.
  3. Urge your lawyer to apply to join the Hodge Life lender panel
Can you help?. For no fault of my lawyer but, my purchase conveyancing has been going on for months. The Local Authority Search from Hodge Life was date stamped random date and we have agreed a date for me to move into the property on 6 months + 3. My solicitor says that as she is on the Hodge Life conveyancing panel she needs to redo the searches as they are no longer valid.
A precondition to being on the Hodge Life approved panel is to comply with the CML Handbook Part 2 obligations (last updated for this lender on Hodge Life)which specifies that a local authority search be not more than 6 months old. You should nevertheless ask your lawyer to check whether something called ‘search validation’ indemnity insurance is acceptable to Hodge Life.
I am searching for online conveyancing estimates. Can I be sure that all the practices that are identified on your website are on the Hodge Life conveyancing panel?
The law firms listed on our site have assured us via an online form that they are on the Hodge Life panel and agreed to advise us to take down their listing in the event of removal off of the Hodge Life panel. To date we have not been informed by either a lender or a member of the public that the data about a specific firm being on the Hodge Life conveyancing panel is incorrect.
My solicitors in Newcastle have advised me that they can not locate my conveyancing file. At the time of my purchase I took out a mortgage with Hodge Life. Is it case that being on the Hodge Life conveyancing panel they need to have retained the file for a prescribed period?
Different lenders have different requirements but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the Hodge Life Conveyancing Panel Terms. It might be worth you contacting Hodge Life directly.
Last month we had a mortgage agreed in principle with Hodge Life. Solicitors have been instructed? How long does it take for Hodge Life to send the offer to our conveyancer
Some lenders take longer than others. Have Hodge Life completed the survey? Have you advised Hodge Life as your lawyers details and checked that your lawyer is on the Hodge Life conveyancing panel? sometimes it can take as long as six weeks for a mortgage offer to be issued
We have agreed to purchase a house.One unusual aspect is that the roof has a solar panel. Hodge Life have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is Hodge Life your lawyer must to check the Hodge Life conveyancing instructions contained in the Part of CML Handbook for Hodge Life . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to Hodge Life where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. The CML are developing guidance for Northern Ireland and Scotland.
Why might a lender such as Hodge Life withdraw a mortgage offer?
Banks and Building Societies such as Hodge Life can revoke their mortgage offer although this rarely happens. In the unlikely event that Hodge Life 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 5 examples:
  • Many mortgage offers have an expiry date. Your lawyer should check this. Hodge Life 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.
  • If the borrower informs Hodge Life of a change in the loan amount agreed
  • Amendments if purchase price adjusted and the loan to value limits exceeded by this. Please note that Hodge Life conveyancing panel solicitors would be obliged to notify Hodge Life of a change in the price of the property.
  • A cashback to the buyer, or | part of the price includes a non-cash incentive to the buyer (eg paid stamp duty land tax),or | any indirect incentive (cash or non cash) or rental guarantee, of which the lender was previously unaware
  • Where the lender is on notice of a restriction or a right of pre-emption which is not at market value