Find an Approved Solicitor on the Pepper Money (PUK)
FAQs : The Pepper Money (UK) Conveyancing Panel
I am expecting a mortgage with Pepper Money (UK). my intention is to instruct a Licensed Conveyancer. Does the Pepper Money (UK) Solicitor panel include Licensed Conveyancers
Pepper Money (UK)’s conveyancing panel is, like many other lenders represented by the Council or Mortgage Lenders or BSA, open to Licensed Conveyancers regulated by the CLC.
My husband and I changing mortgage lender for our maisonette with Pepper Money (UK). We have a son 18 who lives with us. The solicitor on the Pepper Money (UK) conveyancing panel requested us to identify anyone over the age of 17 other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the property is forfeited by the lender. I have two concerns (1) Is this document specific to the Pepper Money (UK) conveyancing panel as he never had 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 (UK) 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 (UK) .This is solely used to protect the Pepper Money (UK) 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 (UK) 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 I have to have a meeting at the offices of the Pepper Money (UK) conveyancing panel solicitor to execute the legal charge? If so, I will instruct a firm who offer conveyancing in Liverpool
so that I can pop in to their offices if necessary.
Most conveyancing panel lawyers for Pepper Money (UK) undertake all of the work via the post, internet or over the phone. This means that they can undertake your Conveyancing Transaction no matter where you live in England or Wales. However you should check if you can still book an appointment to go into appointed conveyancing lawyer if you prefer.
My solicitors in Manchester have advised me that they can not locate my conveyancing file. To assist with my purchase I took out a mortgage with Pepper Money (UK). Is it case that being on the Pepper Money (UK) conveyancing panel they need to have retained the file for a prescribed period?
It very much depends from lender to lender but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the Pepper Money (UK) Conveyancing Panel Terms. It might be worth you contacting Pepper Money (UK) directly.
Can you point me to a directory of Pepper Money (UK) panel conveyancers on the Council of Mortgage Lender’s Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few lenders make their panel listings available online.
I have decided to exercise my right to buy my property off the council. I have a mortgage offer with Pepper Money (UK). Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event if you are getting a mortgage with Pepper Money (UK) you will need to appoint a solicitor on the Pepper Money (UK) conveyancing panel.
I can not work out if my mortgage offer requires a lease extension . I have called Pepper Money (UK) on various occasions and told it wasn't a problem and they would lend. My solicitor - who is on the Pepper Money (UK) 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
Your lawyer has to follow the CML Handbook Part 2 requirements for Pepper Money (UK). Unless your lawyer obtains specific confirmation in writing that Pepper Money (UK) 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 (UK) to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.