Q and A’s regarding the Pepper Money Conveyancing Panel from members of the public
My financial adviser has has requested my law firm’s panel member for the Pepper Money conveyancing panel. How do I discover this. I have e-mailed my local Pepper Money office but they don't know it.
Have you tried speaking to your lawyer about this?. They should have a central record lender panel numbers including the Pepper Money panel reference.
My wife and I intend to remortgage our penthouse with Pepper Money. We have a son 18 who lives with us. The solicitor on the Pepper Money conveyancing panel has asked us to disclose any adults other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the flat is repossessed. I have a couple of concerns (1) Is this form unique to the Pepper Money conveyancing panel as he did not need to sign this form when we bought 5 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
First, rest assured that your Pepper Money conveyancing panel solicitor is doing the right thing 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.
Do lenders provide you with an approved list of solicitors? How do you know who is on the Pepper Money conveyancing panel?
The law firm practices themselves provide us confirmation that they are on the Pepper Money conveyancing panel as opposed to being supplied with a list from Pepper Money directly.
I am thinking of remortgaging my home does my lawyer need to be on the Pepper Money Solicitor panel?
There is nothing to stop you using your solicitor but Pepper Money will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
I can not work out if my mortgage offer requires a lease extension . I have telephoned Pepper Money on various 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.
Pepper Money have agreed my mortgage in principle, my offer on house has been accepted, now what?
The estate agent will want to know who your solicitors are (make sure these solicitors are on the lenders panel). Call up Pepper Money or your broker and complete any relevant paperwork. Pepper Money will tell you what documents they want. Pepper Money will instruct a valuer. The valuer will get in touch with the estate agent or seller to book an appointment. Once conducted (assuming no problems) it takes about week to get a mortgage offer. Pepper Money will issue the offer to you and your lawyer. The transaction will then take it’s course according the nature and complexity of the conveyancing.
Next month my fiance and I are buying a 1st floor apartment in Hendon. Conveyancing solicitors in Hendon are preferred to begiven the go-ahead. My friendrecommended that we check that the solicitor in Hendon is on the Pepper Money approved list of lawyers. Aren't all lawyers on the Pepper Money panel?
It is not that case that all Hendon conveyancing firms are on the Pepper Money conveyancing panel. Click here to search for a Hendon conveyancing firm on the on the Pepper Money approved list of lawyers.