Hodge Conveyancing Panel Information

Most lenders do not operate a specific buy to let conveyancing panel but we are hearing about a few that do. We do not know what the position is with Hodge as at todays date. If you're about to receive instructions from a client on a buy to let purchase with a mortgage from Hodge we suggest that you call Hodge to check the position.

In the same way that there is a unique Hodge conveyancing panel most building societies, operate a conveyancing panel for solicitors and other conveyancers that the lender will instruct. Terms and Conditions and criteria for inclusion on a building society conveyancing panel vary from lender-to-lender. Having CQS accreditation may be a requirement. Institutional lenders, such as a building society, is a client and is entitled to instruct the solicitor or conveyancer of its choosing (who, in turn, is free to accept or refuse instructions). Therefore, if lender and borrower cannot agree which solicitor or conveyancer should represent them jointly, they would usually proceed on a separate representation basis. The BSA have not published the equivalent of the UK Finance Lenders’ Handbook Part 3s.

During 2013, 0 sections of the UK Finance Lenders’ Handbook P2 were changed by Hodge. Some changes are more important than others but as a firm on the Hodge conveyancing panel you are of course obliged to comply with individual lender requirements, as set out in Part II of the UK Finance Lenders’ Handbook. Locktons have recently pointed out in an article that non-compliance with Part 2 requirements account for a number of high value claims, and it is therefore important to be aware of any particularly onerous terms that an individual lender may impose.

Remember: CML requirements are not guidelines; they are the lender client’s instructions.

Hodge approved solicitors have to comply with the UK Finance Lenders’ Handbook instructions relating to Transfer of Equity. These are set out in Section 16.3. First, your firm must approve the form of Transfer of Equity (which should be in the Land Registry's standard form) and, if Hodge require, the deed of covenant on their behalf. You will need to check Hodge CML Part 2 conditions to see if Hodge have standard forms of transfer and deed of covenant. Please note that this requirement can change from one transaction to another so do check! Second,When drafting or approving a transfer, you should bear in mind that: although the transfer should state that it is subject to the mortgage (identified by date and parties), it need give no details of the terms of the mortgage; the transfer need not state the amount of the mortgage debt. If it does, the figure should include both principal and interest at the date of completion, which you must check ; there should be no statement that all interest has been paid to date. Further obligations are set out in the UK Finance Lenders’ Handbook which have to be followed by all firms on the Hodge conveyancing panel

In the circumstances please explain on the form what action you have taken to find out the reasons behind cancellation of your Hodge panel status. In particular please provide details if you have received communications from the lender. E.G. before termination of your panel membership did you receive any letters or calls from the lender putting you on notice?

You should contact Hodge to obtain standard documents. The The Council of Mortgage Lenders Handbook contains an express question for lenders to cite who to contact to obtain standard documents. Hodge in their Part 2’s state: Please remember to disclose the firm’s Hodge solicitors panel number.