FAQs for the Pepper Money Solicitor Panel from members of the public
I would like to know the reason why all property lawyers are not on the Pepper Money Solicitor panel?
Pepper Money and other lenders normally restrict either the type or the number of conveyancing firms on their approved list of lawyers. A common example of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that Pepper Money have no responsibility for the quality of advice provided by any member of Pepper Money Conveyancer Panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, Conveyancing is not their speciality? To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime; probably not.
Can you clarify something for me?. My lawyer is not to blame but, my purchase conveyancing has been going on for months. The Local Authority Search from Pepper Money was issued random date and we have agreed a date for me to move into the property on Tues etc. My lawyer informs me that as she is on the Pepper Money conveyancing panel she needs to reorder the searches as they are no longer valid.
A precondition to being on the Pepper Money approved panel is to comply with the CML Handbook requirements (last updated for this lender on Pepper Money)which states that a local authority search be not more than 6 months old. You should nevertheless ask your lawyer to check whether something called ‘search validation’ indemnity insurance is acceptable to Pepper Money.
Are there any apps to help find a local solicitor on the Pepper Money conveyancing panel? I have a car and am prepared to travel up to 10 miles to meet the conveyancer.
You can use the find a conveyancing panel tool on this website. Please choose the lender and your location and you will see a number of lawyer located nearest you. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the Pepper Money solicitor panel.
I am considering applying for a Pepper Money mortgage for purchase of a newly converted (under development) with 60% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Pepper Money?
In theory, you could use a solicitor that is not on Pepper Money conveyancing panel, but Pepper Money would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
My brother and I have had an offer accepted on a house I spoke to a solicitor recommended by my dad and he recommended retaining a property lawyers approved by Pepper Money. The estate agent recommended two local firms so I asked Pepper Money if the 2 suggested solicitors are approved, which they are not. Pepper Money suggested that either practice can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of Pepper Money 's conveyancing panel solicitors (2) Use the local solicitor and accept there may be delays etc as they go through the approval process.
Enquire of Pepper Money to suggest a law firm in your location. Most banks have lawyers on their panel throughout the UK. You can also use our search tool at the top of this page to search for a lawyer on the Pepper Money conveyancing panel based on location. If you particularly like the sound of one of the local lawyers that you have spoken to ask them if they would go onto Pepper Money conveyancing panel as it may only take about 2-3 weeks. As long as they meet Pepper Money’s requirements it can be a very simple job for the solicitor. Other stuff will be going on in parallel (as you are at an early stage) so it may not delay matters.
It is not clear whether my mortgage offer requires a lease extension . I have called 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. I simply dont know who is right
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?
In terms of 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.