Examples of recent questions relating to the Rooftop Mortgages Solicitor Panel
from members of the public
We are purchasing a 2 bedroom flat in Newcastle with a mortgage from Rooftop Mortgages. We would like to retain our solicitor but Rooftop Mortgages says he's not on their "panel". It seems we have little choice but to instruct one of the Rooftop Mortgages panel firms or keep our solicitor and pay for one of their panel ones to represent them. This seems very unfair; is there anything we can do?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the Rooftop Mortgages conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your solicitors to apply to be on the conveyancing panel for Rooftop Mortgages
My conveyancer has uncovered a discrepancy between the assumptions in Rooftop Mortgages’s valuation report and what is in the legal papers for the property. My lawyer has advised that as he is on the Rooftop Mortgages conveyancing panel he is obliged to ensure that the lender is OK with this discrepancy and is still content to lend. Is my conveyancer’s stance correct?
A precondition to being on the Rooftop Mortgages approved panel is to comply with the CML Handbook requirements (last updated for this lender on Rooftop Mortgages) which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
I see that you have a post code search directory listing law firms on the Rooftop Mortgages conveyancing panel. Do firms pay you a commission if I appoint them for my conveyancing?
We are a listing service only for law firms wishing to communicate if they are on the Rooftop Mortgages conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
Please explain the implications if my lawyer’s firm is removed from the Rooftop Mortgages Conveyancing panel prior to the moving date as agreed at exchange of contracts?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have ti instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by the regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
Can you point me to a directory of Rooftop Mortgages panel solicitors on the Building Society Association’s Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few lenders make their panel listings available online.
I was thinking of purchasing my friend’s property. Assuming we can agree a figure, what’s the best way to proceed? I plan to obtain a mortgage with Rooftop Mortgages. Is it possible to avoid using solicitors to save on the costs? My dad reckons back in the day he did a lot of it himself, just went into the land registry office and providing them with the info they needed himself
If you are getting a mortgage with Rooftop Mortgages involved you will need to appoint a solicitor on the Rooftop Mortgages conveyancing panel. We would not encourage you to both use the same solicitors' firm. There are clear conflict of interest issues and it's not going to make a huge difference to the speed of the overall process. So as not to hold things us you should pass on your solicitors details to Rooftop Mortgages. Feel free to use our search tool to look for a licensed conveyancer or solicitor on the Rooftop Mortgages conveyancing panel.
Intending to buy a house with a mortgage with Rooftop Mortgages. I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Rooftop Mortgages conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that they are on the Rooftop Mortgages conveyancing panel