FAQs : The Pepper Money Solicitor Panel from members of the public
My Solicitor is not on the Pepper Money Conveyancing Panel. Can I still retain my family solicitor even though they are not on the Pepper Money list of approved lawyers?
You will need to have a conveyancer complete the legal work required when you take out a Pepper Money mortgage to buy your property. They’ll carry out all the necessary legal checks on the property, make sure that you’re properly registered as the owner and ensure that all the necessary mortgage documentation is in place. You can instruct a conveyancing firm of your choice. However, if the firm selected is not a member of the Pepper Money conveyancing panel additional costs will be incurred as separate legal representation will be required by Pepper Money. Conveyancing panel applications can be submitted, so if your conveyancer has not previously applied for membership they can do so.
My partner and I changing mortgage lender for our maisonette with Pepper Money. We have a son approaching twenty who lives with us. The solicitor on the Pepper Money conveyancing panel requested us to identify anyone over the age of 17 other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the apartment is forfeited by the lender. I have two concerns (1) Is this form unique to the Pepper Money conveyancing panel as he never had to sign this form when we remortgaged 4 years ago (2) In signing this form is our son in any way compromising his right 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 Pepper Money .This is solely used to protect the Pepper Money 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 Pepper Money 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.
I am searching for conveyancing quotes online. Can I be sure that all the firms that are listed on your directory are on the Pepper Money conveyancing panel?
The law firms on our directory have advised us that they are on the Pepper Money panel and agreed to advise us to take down their listing in the event of removal off of the Pepper Money panel. To date we have not been informed by either a lender or a member of the public that the data about a specific firm being on the Pepper Money conveyancing panel is incorrect.
The solicitors that I recently instructed on my purchase in London has without warning closed. I chose them because I needed a firm on the Pepper Money conveyancing panel and my previous lawyer was not. I paid them £200 on account. What do I do now?
If you have an estate agent involved then let them know immediately so that they can let the sellers know 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 Pepper Money 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 solicitors may be able to assist
I previously instructed online conveyancers located in London who are on the Pepper Money solicitor panel. They have just invoiced me a separate fee of £150 for dealing with the Pepper Money mortgage. Is this a supplemental conveyancing fee specified by Pepper Money?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitors can charge a fee for this. This fee is not set by Pepper Money but by your lawyers. Some firms on the Pepper Money will charge an ‘acting for lender’ fee and others do not.
It is not clear whether my mortgage offer requires a lease extension . I have telephoned Pepper Money on numerous occasions and told it wasn't a problem and they would lend. My solicitor - who is on the Pepper Money conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. Who do I believe?
As long as the conveyancer is on the Pepper Money panel she or he must comply with the CML Handbook requirements for Pepper Money. Unless your lawyer obtains specific confirmation in writing that Pepper Money will go ahead your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask Pepper Money to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.
My ex -wife’s name is on the Pepper Money mortgage of my property but not on the land registry. The apartment was transferred to me on our divorce many years ago by way of a sealed court order. Does my ex still have a say on the sale even though the land registry showing the property in my name alone? Will I be required to take her name of the Pepper Money mortgage in order to sell?
As regards the Pepper Money mortgage, it is unusual that your ex-wife’s name remains on the mortgage but not on the title. It is conceivable that this is an oversight on the part of your conveyancers to ensure that her name was removed or even an administrative error on the part of Pepper Money in failing to update their data. In any event, it should cause difficulty providing her name no longer appears on the Land Registry title and you have a court order ordering that the property is transferred to you.