Hodge Equity Release Conveyancing Panel Information

There are many reports available, five of which are as follows:

• Average mortgage advance
• Average time frame to send deeds to the lender (calculated from completion date or title registration)
• Buy to Let transactions
• Current and historic missed priority dates
• Number of conveyancing cases by lender

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 at liberty instruct a panel firm of your choice. Many lenders 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.

During 2013, 0 sections of the UK Finance Lenders’ Handbook P2 were changed by Hodge Equity Release. Some changes are more important than others but as a firm on the Hodge Equity Release 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.

With mortgage companies and solicitors 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 bank panels

It would be advisable to 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 Law Society viability as to what has occured.

You would be advised to communicate with Hodge Equity Release to obtain standard documents. The CML Handbook contains an individual inquiry for banks to establish who to contact to obtain standard documents. Hodge Equity Release in their Part 2’s state: Don’t forget to disclose your Hodge Equity Release solicitors panel number.