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Rooftop Mortgages Solicitor Panel: Recently Asked Questions
Is it the case that the Law Society has advised that firms check their status on the
Rooftop Mortgages conveyancing panel?
The Scottish Law Society has advised that solicitors should check their lender panel status prior to accepting client instructions to act. The advice is lender-agnostic as it does not relate specifically to solicitors on the
Rooftop Mortgages conveyancing panel. The recommendation arises from the practice of a number of mortgage lenders who remove solicitors from their panels without prior notice as part of their panel management system, which can lead to some solicitors discovering this only once instructed. This is sensible advice as a client finding out midway through a transaction that their lawyer is not on the approved lender panel is very frustrating and can lead to complaints. Many online consumer forums contain posts where someone is complaining about finding that their lawyer is not on a lender conveyancing panel. Such forums include mumsnet.com
What obligations do I have,
being on the
Rooftop Mortgages conveyancing panel, to carry out a flood search?
Rooftop Mortgages make no specific obligation to carry out any of
the searches listed. The UK Finance Lenders’ Handbook simply states that ‘you must
ensure that any other searches which may be appropriate to the
particular property, taking into account its locality and other
features are carried out’.
Please note that most ‘less usual searches’ (as described in the Law Society’s Conveyancing Handbook) are not optional as far as Rooftop Mortgages are concerned if they are ‘appropriate’. Most lenders will not require environmental searches (you should Check Part 2 of UK Finance Lenders’ Handbook to be sure), but you are obliged to explain risks and availability to the client.
Ground stability, Plansearch,flood searches as well as the searches listed in the question are optional – but only to the extent that you have allowed the borrower client to make an informed choice. Regardless of whether there is a mortgage, If you have not advised the client that these (and other) searches are available and what risks they cover, then you will be liable if the client suffers loss through not conducting one. Does your ROT and Ts and Cs cover this?
One search supplier lists over 70 conveyancing searches – do you know what all of them are and when they may be relevant? If you are unsure as to which searches are appropriate based on location contact your search provider or call one of the leading search companies such as STL.
My client is buying a detached house for £750k in Manchester requiring a mortgage advance over GBP 450,000.
I am on the
Rooftop Mortgages conveyancing panel but do Rooftop Mortgages have a separate approved panel when the advance is above 400,000?
We only know of two or three banks that operate a separate conveyancing panel where the mortgage advance is over a certain level.
You should nevertheless check directly with
Rooftop Mortgages. At one stage HSBC would only allow Sole
practitioners to act for them where the mortgage was below
£150,000. We are not sure if HSBC still operate such a condition. In
your case it is best to check with Rooftop Mortgages
Are the Council of Licensed Conveyancers taking any action to ensure that licensed conveyancers remain on lender conveyancing panels?
As is the case with the Law Society the CLC has initiated discussions with lenders and their representative bodies to see whether and how the risks that lenders wish to mitigate could be addressed through the regulatory framework rather than via ad hoc arrangements that can differ from lender to lender. We expect that that the CLC have been in touch with lenders such as
Rooftop Mortgages since 2008 which is when lenders started being more restrictive.
Can you give me an example of some of the reports available via COMPLETIONmonitor to support my appeal to be reinstated on the Rooftop Mortgages solicitor panel?
There are many reports available, five of which are as follows:
- 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
- Average time frame to register charges at the Land Registry
- The percentage of the firm’s business which is conveyancing (broken down into sale/purchase and remortgage)
Our firm had their Rooftop Mortgages panel membership suspended but we have not yet been given an explanation yet.
I am completing a CQS application form what details should I put forward?
In the circumstances please clarify on the application what steps you have taken to find out the reasons behind cancellation of your
Rooftop Mortgages panel membership.
In particular please provide details if you have received communications from the lender. E.G. before termination of your panel membership did you receive any letters or calls from the lender informing you as to why they reached this decision?
My firm is listed on the
Rooftop Mortgages
conveyancing panel and all set to complete a remortgage shortly. My file does not contain a Legal Charge for the client to execute.
Who do I contact at Rooftop Mortgages to request substitute deeds?
You should get in touch with Rooftop Mortgages
to obtain standard documents. The The Council of Mortgage Lenders Handbook incorporates an individual question for banks to set out who to contact to obtain standard documents.
Rooftop Mortgages in their Part 2’s state:
Don’t forget to quote the firm’s Rooftop Mortgages conveyancing panel number.
Find a Lawyer on the Rooftop Mortgages Solicitors Panel
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Average number of days to register title including a charge in favour of Rooftop Mortgages
This information relates to purchase only and not remortgages.
| Year | Days* |
|---|---|
| 2025 | [no data] |
| 2024 | [no data] |
| 2023 | [no data] |
| 2022 | [no data] |
| 2021 | [no data] |
| 2020 | [no data] |
* Data aggregated from sources including COMPLETIONmonitor
Other related topics:
- CQS policy templates and procedures for accredited Rooftop Mortgages Firms
- Draft Report on Title precedent for Rooftop Mortgages borrowers
- Draft Anti Money Laundering PolicyTemplate for Rooftop Mortgages panel firms to consider
- Dealing with Lender Policy Template panel for CQS accredited firms on the Rooftop Mortgages lender panel
- Buy-to-Let help for Rooftop Mortgages
- Consent-to-Let help for Rooftop Mortgages
- Contractor Mortgages with Rooftop Mortgages
