Rooftop Mortgages Conveyancing Panel Information

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?

A leading search supplier lists over 72 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.

The fact of the matter is that estate agents will be feeling the pain if their clients start out on the conveyancing process having appointed a conveyancer who is not on the panel with the purchaser’s chosen lender. Many conveyancing firms are only discovering when they begin working on a case that they are no longer able to work with that lender. Given the inevitable resultant delays in the transaction the chances of an abortive deal increases dramatically. in the circumstances there is understandable anguish on the part of the estate agent as a result of the lost time should the client have to change lawyers.

You might expect Rooftop Mortgages via their Part Two conditions to address this but the Handbook makes no mention on time frames. Do look at the Terms of Rooftop Mortgages’s Conveyancing Panel Appointment that you are bound by. For a number of banks these Terms have a clause such as: ‘To keep us informed of the reasons for any delay in your being able to send the title deeds and documents we require to us within 3 months of completion or evidence of proof of registration within that period. (We will send reminders if the deeds have not been received but will not acknowledge receipt of deeds’ It is important to keep Rooftop Mortgages updated. Law firms can often compound their problems by not communicating with the lender when there is a delay or problem.

The key here is the caveat ‘more onerous’. You have to try and take an objective view as to whether the Terms relating to the Rooftop Mortgages conveyancing appointment (or other terms for other lenders) are ‘more onerous’ than the UK Finance Lenders’ Handbook Conditions. Depending on the Terms you may need to provide details on your renewal form. If you are in any doubt please call your broker to discuss before moving forward on this question.

In the circumstances 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 termination of your panel membership did you receive any letters or calls from the lender putting you on notice?

You would be advised to get in touch with Rooftop Mortgages to obtain standard documents. The CML Handbook includes an express question for banks to enumerate who to contact to obtain standard documents. Don’t forget to quote the firm’s Rooftop Mortgages solicitors panel reference.