Hodge Equity Release Conveyancing Panel Information

The CML, together with Hodge Equity Release and other lenders developed a standard set of instructions where a conveyancer is representing a lender such as Hodge Equity Release alone in a residential conveyancing matter. These obligations are contained at Part III of the UK Finance Lenders’ Handbook and are to be read in conjunction with Parts 1 & 2. The CML have published an example requirements letter to the borrower’s conveyancer for adaptation by the lender's conveyancer, and sets out to the borrower's conveyancer, the documentary and information requirements of the lender's panel solicitor.

The requirements to join the Hodge Equity Release conveyancing panel is likely to be fairly detailed and is unlikely to include signing up to LENDERmonitor alerts.

The Scottish Law Society has suggested that solicitors should check their panel status with lenders prior to accepting client instructions to act. The advice is lender-agnostic as it does not relate specifically to solicitors on the Hodge Equity Release conveyancing panel. The recommendation arises from the practice of a number of mortgage lenders who remove solicitors from their panels without prior notice as part of their panel management system, which can lead to some solicitors discovering this only once instructed. This is sensible advice as a client finding out midway through a transaction that their lawyer is not on the approved lender panel is very frustrating and can lead to complaints. Many online consumer forums contain posts where someone is complaining about finding that their lawyer is not on a lender conveyancing panel. Such forums include mumsnet.com

With banks and property lawyers working so closely together it is surprising that there has not been greater demand for the introduction of a bit of transparency regarding not just the figures for the Hodge Equity Release conveyancing panel but for all mortgage panel listings

We would recommend that you supply details of the date of removal, information on the reason for removal, date of appeal and any reason given for reinstatement. This should not adversely impact your firm’s application but gives the Law Society viability as to what has gone on.

You should get in touch with Hodge Equity Release to obtain standard documents. The CML Handbook contains an explicit inquiry for banks to cite who to contact to obtain standard documents. Hodge Equity Release in their Part 2’s state: Always remember to quote the firm’s Hodge Equity Release solicitors panel reference.