Find an Approved Solicitor on the Pepper Money (PUK)
Common questions asked concerning the Pepper Money (UK) Conveyancing Panel
What is the rationale as to why all property lawyers are not on the Pepper Money (UK) Conveyancing panel?
As unjust as it may seem for Pepper Money (UK) to restrict who can act for them from the public’s or solicitor’s point of view, the other side of the coin is that the lenders are becoming ever more anxious and feel the necessary need to protect them from mortgage fraud and other illegal activities. As a result of this concern Pepper Money (UK) have restricted their conveyancing panel to a size that they are happy to control. The Pepper Money (UK) solicitor panel is not the most difficult to join
Our lawyer has discovered a defect with the lease for the apartment we are buying. The seller’s lawyers have offered title insurance as a workaround. We are happy with insurance and will cover the costs. Our solicitor has advised that as he is on the Pepper Money (UK) conveyancing panel he must be satisfied that the lender is happy with this solution. Who is the client here, us or Pepper Money (UK)?
Just because you have a mortgage offer from Pepper Money (UK) does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the CML Handbook Requirements. You and Pepper Money (UK) are the client. The appropriate lender requirements must be adhered to by the Pepper Money (UK) conveyancing panel who has to balance acting for you and Pepper Money (UK)
Do all the licensed conveyancers and solicitor practices listed on your directory have online case tracking as I understood that this was a condition of being on the Pepper Money (UK) conveyancing panel?
The Council of Mortgage Lenders or BSA do not require online case tracking. Some law firms operate such technology and some don't.
My house is up for sale and I have a buyer. Does my solicitor have to be on the Pepper Money (UK) conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Pepper Money (UK) conveyancing panel they can still act for you on your sale. it might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
My wife and I have arranged a further advance on our mortgage from Pepper Money (UK) as we wish to carry out a loft conversion to our home. Do we need to appoint a solicitor on the Pepper Money (UK) conveyancing panel to deal with the legals?
Pepper Money (UK) would not normally appoint a member of their approved list of lawyers to deal with such a matter. If they did require any legal work then you would need to ensure that such a lawyer was on the Pepper Money (UK) list
It is not clear whether my mortgage offer requires a lease extension . I have called into my local branch Pepper Money (UK) on numerous 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.
My ex -wife’s name is on the Pepper Money (UK) 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 (UK) mortgage in order to sell?
As regards the Pepper Money (UK) 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 (UK) 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.
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