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Ready to buy a new home? Failing to check that a lawyer is on the PepperMoneyUK list of approved solicitors can put your transaction at risk of delay or failure.
Looking for information about your firm's panel status?How does my firm apply to be on the Pepper Money (PUK) Conveyancing Panel? How can my firm be reinstated onto the Pepper Money (PUK) Conveyancing Panel?
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Common questions asked concerning the Pepper Money (UK) Conveyancing Panel
My financial adviser has informed me that I have to pay Pepper Money (UK) fees should I instruct my family lawyer. How efficient are the Pepper Money (UK) conveyancing panel solicitors? I'm happy to use any solicitor in the country TBH provided that they are good and reasonably priced. Would you recommend a specific law firm on the Pepper Money (UK) panel?
Pepper Money (UK)’s conveyancing panel is pretty large so your best bet is just to check with the firms you are getting quotes from whether they are on it. You can search by postcode on the search tool on this site to find solicitors that Pepper Money (UK) will allow to act for them.
I am buying a newly constructed apartment and my lawyer is advising me that she is duty bound to reveal incentives from the developer as her firm is on the Pepper Money (UK) conveyancing panel. I am on a tight deadline to exchange and I dont want to delay the conveyancing. Is my lawyer right?
You should not exchange unless you have advised to do so by your lawyer. A precondition to being on the Pepper Money (UK) approved panel is to comply with the CML Handbook requirements (last updated for this lender on Pepper Money (UK)). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Do all the licensed conveyancers and solicitor practices listed on your directory have online case tracking as I was under the impression that this was a precondition of being on the Pepper Money (UK) solicitor panel?
No. There is no CML Part 2 or Building Society Association requirement relating to online case tracking. Some law firms operate such technology and some don't.
The lawyers that I recently instructed on my house acquisition in Manchester has without warning shut down. I chose them because I needed a firm on the Pepper Money (UK) conveyancing panel and my family lawyer was not. I gave my credit card details for them to take £175 for searches. What should be my next steps?
Assuming that you have an Estate Agent in the equation then inform them straight away so that they advise the vendors that there may be a slight delay due to reasons beyond your control. Most sellers would 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 (UK) 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 help
I was thinking of purchasing my friend’s property. Assuming we can agree a figure, what’s the best way to proceed? I plan to obtain a mortgage with Pepper Money (UK). Is there anyway to cut out the solicitors to save on the costs? My father said that years ago it was possible to take the documents into the local Land Registry office and they did the rest
If you are getting a mortgage with Pepper Money (UK) involved you will need to appoint a solicitor on the Pepper Money (UK) conveyancing panel. We would not encourage you to both use the same solicitors' firm. There are clear conflict of interest issues and it's not going to make a huge difference to the speed of the overall process. So as not to hold things us you should pass on your solicitors details to Pepper Money (UK). Feel free to use our search tool to look for a licensed conveyancer or solicitor on the Pepper Money (UK) conveyancing panel.
What are the common reasons for a lender such as Pepper Money (UK) to withdraw a mortgage offer?
Lenders such as Pepper Money (UK) can revoke their mortgage offer although this is unusual. should Pepper Money (UK) withdraw their offer they may or may not inform you or the lawyer as to the reasons why. There are many potential reasons but here are a number of examples:
- Where information comes to Pepper Money (UK) ‘s attention regarding the customers or the security that they were not aware of prior to offer that affects their original decision to lend
- Pepper Money (UK) may amend or withdraw an offer if the Pepper Money (UK) conveyancing panel solicitor is unable to confirm compliance with any of the conditions of the mortgage offer or if any of the terms of the mortgage offer cannot be satisfied
- Many mortgage offers have an expiry date. Your lawyer should check this. Pepper Money (UK) may amend or withdraw an offer before the end of its validation period if an offer extension is requested and following a re-evaluation of the property the value of the security is below a level which is acceptable to them.
- Where the lender is on notice of a restriction or a right of pre-emption which is not at market value
- If the solicitor on the Pepper Money (UK) conveyancing panel acting for the applicant, borrower, mortgagor or guarantor cannot comply with Pepper Money (UK) ‘s instructions
Intending to buy a house with a mortgage with Pepper Money (UK). I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Pepper Money (UK) conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that they are on the Pepper Money (UK) conveyancing panel