Common questions asked concerning the Rooftop Mortgages Conveyancing Panel from members of the public
My financial adviser has informed me that I have to pay Rooftop Mortgages fees should I instruct my family lawyer. How efficient are the Rooftop Mortgages conveyancing panel solicitors? I dont care which law firm I use provided that they are good and not exorbitantly priced. Are there any Rooftop Mortgages conveyancers you'd recommend?
Rooftop Mortgages’s conveyancing panel is pretty large so it would be advisable to check with the firms you are getting quotes from whether they are on it. You can search by postcode on the search tool on this site to find solicitors that Rooftop Mortgages will allow to act for them.
Our conveyancer has discovered a problem with the lease for the property we are buying. The other side have put forward title insurance as a solution. We are happy with insurance and will cover the costs. Our solicitor says that as he is on the Rooftop Mortgages conveyancing panel he must ensure that the lender is happy with this solution. Who is the client here, us or Rooftop Mortgages?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and Rooftop Mortgages are the client. 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). The CML Handbook conditions require your lawyer to disclose issues such as defects will the lease so that Rooftop Mortgages can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . 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 note that you have a search directory listing law firms on the Rooftop Mortgages conveyancing panel. Do firms pay you a commission if I retain them for my own house purchase?
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.
My house is up for sale and I have a buyer. Does my solicitor have to be on the Rooftop Mortgages conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Rooftop Mortgages conveyancing panel they can still act for you on your sale. it might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
Are all solicitors on the Rooftop Mortgages conveyancing panel overseen by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Rooftop Mortgages conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
I have paid off my mortgage with Rooftop Mortgages. I assume I don't need a solicitor on the Rooftop Mortgages panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Rooftop Mortgages mortgage they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Rooftop Mortgages mortgage from the register. Rooftop Mortgages,and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
but are not moving to another property
where the Rooftop Mortgages has sent the Land Registry the discharge electronically, and
the Rooftop Mortgages has instructed the Land Registry to do so
The Land Registry will send you a letter confirming that your Rooftop Mortgages mortgage has been paid off.
I have instructed a lawyer having checked that they are on the Rooftop Mortgages conveyancing panel. Does my lawyer arrange the survey of the property?
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I've digested plenty of mortgage guides,I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my solicitor - who is on the Rooftop Mortgages conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Rooftop Mortgages will need an independent valuation of the property. Your lawyer will not arrange this. Usually Rooftop Mortgages will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey.
You may wish to consider appointing your own surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
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Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by postcode. As you are getting a mortgage with Rooftop Mortgages you could contact your them to see if they have a list of approved surveyors.