Rooftop Mortgages Conveyancing Panel Information

In the same way that there is a unique Rooftop Mortgages conveyancing panel most building societies, operate a conveyancing panel for solicitors and other conveyancers that the lender will instruct. Terms and Conditions and criteria for inclusion on a building society conveyancing panel vary from lender-to-lender. Having CQS accreditation may be a requirement. Institutional lenders, such as a building society, is a client and is entitled to instruct the solicitor or conveyancer of its choosing (who, in turn, is free to accept or refuse instructions). Therefore, if lender and borrower cannot agree which solicitor or conveyancer should represent them jointly, they would usually proceed on a separate representation basis. The BSA have not published the equivalent of the UK Finance Lenders’ Handbook Part 3s.

There are various requirements you need to follow if you wish to comply with your lender client’s instructions as set out in the UK Finance Lenders’ Handbook. (a) You must take reasonable steps to verify that there are no discrepancies between the description of the property as valued and the title and other documents which a reasonably competent conveyancer should obtain, and, if there are, you must tell Rooftop Mortgages immediately. (b) You should take reasonable steps to verify that the assumptions stated by the valuer about the title (for example, its tenure, easements, boundaries and restrictions on its use) in the valuation and as stated in Rooftop Mortgages’s mortgage offer are correct. If they are not, please let Rooftop Mortgages know as soon as possible as it will be necessary for Rooftop Mortgages to check with the valuer whether the valuation needs to be revised. Rooftop Mortgages conveyancing panel solicitors are not expected to assume the role of valuer. Rooftop Mortgages are simply trying to ensure that the valuer has valued the property based on correct information. (III) Rooftop Mortgages recommend that you should advise the borrower that there may be defects in the property which are not revealed by the inspection carried out by their valuer and there may be omissions or inaccuracies in the report which do not matter to them as a lender but which would matter to the borrower. Rooftop Mortgages recommend that, if we send a copy of a valuation report that Rooftop Mortgages have obtained, you should also advise the borrower that the borrower should not rely on the report in deciding whether to proceed with the purchase and that he obtains his own more detailed report on the condition and value of the property, based on a fuller inspection such as a homebuyers report or structural survey. If you do not receive a copy of the valuation you can always ask for a copy of one from Rooftop Mortgages or the borrower. You still need to comply with the UK Finance Lenders’ Handbook Requirement relating to valuation reports even if you don't receive one directly. Failure to comply not only runs the risk of facing a claim by the lender but also being removed from the Rooftop Mortgages conveyancing panel

In this situation please explain on the form what action you have taken to find out the reasons behind cancellation of your Rooftop Mortgages panel status. In particular please provide details if you have received communications from the lender. E.G. before revocation of your panel membership did you receive any letters or calls from the lender putting you on notice?

You need to get in touch with Rooftop Mortgages to obtain standard documents. The CML Handbook includes an explicit question for lenders to set out who to contact to obtain standard documents. Rooftop Mortgages in their Part 2’s state: Please remember to disclose your Rooftop Mortgages solicitors panel number.