Hodge Equity Release Conveyancing Panel Information

The Council of Mortgage Lenders (or the BSA) do not involve themselves in training although they do arrange a number of useful conveyancing related conferences which are attended by firms on the Hodge Equity Release conveyancing panel. We do intend to run specific lender focused seminars in the coming months including a webinar on Hodge Equity Release’s Part 2 obligations. Law firms on the Hodge Equity Release conveyancing panel are welcome. Information about the webinar will be made available as part of the LENDERmonitor P2 change Notifications.

The CML, along with Hodge Equity Release and other members developed a standard set of requirements where a conveyancer is acting for a lender such as Hodge Equity Release alone in a residential conveyancing matter. These obligations are contained at Part 3 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 conveyancing solicitor 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.

Please tread carefully here as what you are intending may not be acceptable to the mortgage company. It is possible that you (as a non-panel firm) or the mortgage applicant are not entitled instruct a panel firm of your choice. Lenders such as Nationwide BS make it clear to their panel firms that where a non-panel member firm is instructed by one of their mortgage applicants, the lender must appoint a panel firm to carry out its instructions and to liaise with the borrower's conveyancing firm. You also need to make the costs implications and potential for delay very clear to your client.

The concern here is if you are expect to enter into ‘more onerous’ conditions that than the Handbook obligations. You have to try and take an objective view as to whether the Terms relating to the Hodge Equity Release conveyancing appointment (or other terms for other lenders) are ‘more onerous’ than the UK Finance Lenders’ Handbook Conditions. Depending on the Terms you may need to provide details on your renewal form. If you are in any doubt please call your broker to discuss before completing the answer.

You should 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 application but gives the CQS team a complete picture of what has gone on.

You should communicate with Hodge Equity Release to obtain standard documents. The CML Handbook incorporates an express question for lenders to establish who to contact to obtain standard documents. Hodge Equity Release in their Part 2’s state: It is likely that you will need to disclose the firm’s Hodge Equity Release solicitors panel reference.