Find an Approved Solicitor on the Rooftop Mortgages Ltd
Common questions asked concerning the Rooftop Mortgages Conveyancing Panel
I need to swap lawyers as my lawyer is not on the Rooftop Mortgages panel of conveyancing solicitors. Is it practical to instruct different lawyers?
If you haven't yet instructed a solicitor to do anything for you and have just received quotes, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer you're considering.
My wife and I changing mortgage lender for our apartment with Rooftop Mortgages. We have a son 19 who lives with us. The solicitor on the Rooftop Mortgages conveyancing panel requested us to identify anyone over the age of 17 other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the property is forfeited by the lender. I have two concerns (1) Is this document specific to the Rooftop Mortgages conveyancing panel as he never had to sign this form when we purchased 5 years ago (2) Does our son by signing this giving up his rights to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Rooftop Mortgages .This is solely used to protect the Rooftop Mortgages if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave.
It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Rooftop Mortgages had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
Do all the firms listed on your search have online case tracking as I understood that this was a condition of being on the Rooftop Mortgages conveyancing panel?
No. There is no CML Part 2 or Building Society Association requirement relating to online case tracking. Some law firms operate such technology and some don't.
The lawyers that I appointed last week on my purchase in London has suddenly closed. I chose them because I needed a lawyer on the Rooftop Mortgages conveyancing panel and my family lawyer was not. I paid them £200 on account. What are my options?
If you have an estate agent involved then let them know immediately so that they advise the vendors that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Rooftop Mortgages conveyancing panel and notify the lender. If you have paid over any money it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to assist
Do the majority of lenders operate their own panel of solicitors?
Many lenders do operate a restricted conveyancing panel but a lot of lenders allow any solicitors to join their panel so long as they meet their criteria. Each lender sets their own criteria. For example the Rooftop Mortgages conveyancing panel requirements are different to Rooftop Mortgages’s conveyancing panel criteria.
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 us both money? 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.
Why might a lender such as Rooftop Mortgages withdraw a mortgage offer?
Banks and Building Societies such as Rooftop Mortgages can revoke their mortgage offer although this is unusual. In the unlikely event that Rooftop Mortgages withdraw their offer they may or may not inform you or the lawyer as to the reasons why. There are various possible reasons but here are a number of examples:
If the borrower informs Rooftop Mortgages of a change in security address
Amendments if purchase price adjusted and the loan to value limits exceeded by this. Please note that Rooftop Mortgages conveyancing panel solicitors would be obliged to notify Rooftop Mortgages of a change in the price of the property.
Where the lender is on notice of a restriction or a right of pre-emption which is not at market value
Where the Lender’s right to possession is fettered in some way
If the lender reasonably believe that the applicant, borrower, mortgagor or guarantor is insolvent or is about to become insolvent or has or will have a petition presented or if any one or all enter into any arrangement with their creditors generally or if any one or all should suffer a material change in their financial circumstances