FAQs for the Rooftop Mortgages Solicitor Panel from members of the public
My wife and I are first time buyers. Within the last couple of days our conveyancer has sent a preliminary report and documents to look through with a view to exchanging next week. Rooftop Mortgages have this evening contacted us to advise us that they have now hit a problem as our lawyer is not on their approved list of lawyers. What do we do from here?
When purchasing a property with the benefit of a mortgage it is usual for the purchaser's solicitors to also act for the purchaser's lender.
In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your property lawyers should contact Rooftop Mortgages and see if they can apply for membership of the Rooftop Mortgages conveyancing panel, but if that is not viable Rooftop Mortgages will instruct their own solicitors to act. You don't have to instruct a firm on the Rooftop Mortgages conveyancing panel and you may continue to use your own solicitors, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
Can you clarify something for me?. My lawyer is not to blame but, my purchase conveyancing has been going on for months. The Local Authority Search from Rooftop Mortgages was date stamped random date and we have agreed a date for me to move into the property on 6 months + 3. My solicitor has advised that as she is on the Rooftop Mortgages conveyancing panel she needs to reorder the searches as they are no longer valid.
One of the many conditions to being on the Rooftop Mortgages approved panel is to comply with the CML Handbook Part 2 obligations (last updated for this lender on Rooftop Mortgages)which states that a local authority search be not more than 6 months old. You should nevertheless ask your lawyer to check whether something called ‘search validation’ indemnity insurance is acceptable to Rooftop Mortgages.
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 instruct them for my 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.
I am considering applying for a Rooftop Mortgages mortgage for purchase of a newly converted (under development) with 60% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Rooftop Mortgages?
There is nothing to stop you using your solicitor but Rooftop Mortgages will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
I am selling my house. I had a double glazing fitted in month 8 but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Rooftop Mortgages are being problematic. The solicitor who is on the Rooftop Mortgages conveyancing panel is saying indemnity insurance will be fine but Rooftop Mortgages are requiring a building regulation certificate. Why do Rooftop Mortgages have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Rooftop Mortgages have referred the matter to their valuer. The reason why Rooftop Mortgages may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing correctly and safely installed. It merely protects against enforcement action which is very unlikely anyway.
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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Having read lots 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 normal?
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.
My offer on house has been accepted, the seller does however have a dependent purchase. The vendors have offered on somewhere, but not been accepted yet, and have viewings of other properties in the pipeline. My conveyancing solicitor has been instructed. What should be my next step? When should I get the mortgage app going with Rooftop Mortgages?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx £1k, then survey/valuation, conveyancing search costs, etc). First you should check that your solicitor is on the Rooftop Mortgages conveyancing panel. As to the next stages this very much depends on the circumstances of your case, desire for this property and on the state of the market. In a hot mortgage some buyers would pally for the mortgage with Rooftop Mortgages and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.