Hodge Conveyancing Panel Information

The CML Part II requirements of Hodge are silent on this. Most mortgage companies deal with the issue of file retention via their Terms and Conditions where they generally provide that for evidential purposes, the firm must keep the file for at least of 6 years from the date of the mortgage. Data imagining is normally suitable compliance with this requirement. Many lenders point out in that it is the practice of some fraudsters to demand the conveyancing file on completion in order to destroy evidence that may later be used against them. It is therefore important to retain these documents to protect Hodge’s interest. To be absolutely sure of Hodge requirements in this regard please check the Terms and Conditions of Hodge’s conveyancing panel appointment.

You might expect Hodge via their Part 2 requirements to address this but the Handbook makes no mention on deadlines to send deeds. You need to look at the Terms of Hodge’s Conveyancing Panel Appointment that you are bound by. For many lender's these Terms contain a provision such as: ‘To keep us informed of the reasons for any delay in your being able to send the title deeds and documents we require to us within 3 months of completion or evidence of proof of registration within that period. (We will send reminders if the deeds have not been received but will not acknowledge receipt of deeds’ It is important to keep Hodge informed. Law firms can often compound their problems by not communicating with the lender when there is a delay or problem.

You will be aware of the trend in recent years for lenders such as Hodge to take a much more pro-active approach in relation to the management and make up of their conveyancer panels. The knock on effect of this is that it is more likely that there will be a higher number of cases where a conveyancer is not on the Hodge panel. The situation that you find yourself in is where your client’s purchaser has his/her own lawyer and Hodge have appointed a separate lawyer to act on their behalf where the new CML Part 3 requirements apply. Section 11.1 of the UK Finance Lenders’ Handbook Part 3 requires Hodge’s panel solicitor to ‘ ...transfer the mortgage advance directly to the Seller’s conveyancer. The Seller’s conveyancer must be required to hold the mortgage advance on the terms of the required undertaking. The example borrower’s conveyancer’s undertaking letter includes a specific example of the seller’s undertaking’. You should expect to be advised to received the mortgage advance directly from the conveyancing solicitors for Hodge. You will no doubt be required to undertake directly to Hodge’s solicitors to discharge any charges secured on the property and to send directly to them the executed transfer and any other documents required to enable us to effect registration. Please remember to carefully consider undertakings in accordance with your firm’s protocol and record them in your undertakings logg. Please remember that as well as this breach of this undertaking having regulatory and compliance implications it’s breach could also result in your firm being removed off 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 membership. In particular please provide details if you have received communications from the lender. E.G. before cessation of your panel membership did you receive any letters or calls from the lender putting you on notice?

You should communicate with Hodge to obtain standard documents. The CML Handbook contains a specific inquiry for banks to establish who to contact to obtain standard documents. Hodge in their Part 2’s state: Don’t forget to quote the firm’s Hodge solicitors panel reference.