Find an Approved Solicitor on the Pepper Money
Frequently asked questions relating to the Pepper Money Conveyancing Panel
The conveyancer my husband and I wanted to use for conveyancing on a remortgage said she would charge more if my lender is due to their unusual legal requirements. Will I regret using Pepper Money? Is Pepper Money conveyancing so much more difficult?
Pepper Money conveyancing requirements for their panel are no better or no more complicated than most lenders.
It is the case now the CML Handbook, the "bible" used by solicitors to establish lender requirements, is different for each lender.
It is not clear if your lawyer is on the Pepper Money conveyancing panel. If they are not, this does add further risk of delay as Pepper Money will appoint their own solicitors to look after their interest.
My fiance and I intend to remortgage our maisonette with Pepper Money. We have a son approaching twenty who lives with us. The solicitor on the Pepper Money conveyancing panel has asked us to disclose any adults other than ourselves who lives in the flat. 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 a couple of questions (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) Does our son by signing this giving up his rights to inherit the property?
On the face of it your lawyer has done nothing wrong 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.
I need to find a Pepper Money panel solicitor in Belfast. Could you help me?
It is not clear why you need a Pepper Money panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to Pepper Money to find out which solicitors in Pepper Money are on their panel. If you do find such a firm not listed please direct them to our site to list. After all the cost is only one £1 a month
I am considering applying for a Pepper Money mortgage for purchase of a newly converted (under development) with 60% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Pepper Money?
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 greater potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
When it comes to lenders such as Pepper Money do solicitors have to be pay a fee to be on the list of approved solicitors?
We are not aware of any lender fees to be on their panel although some do charge an administration charge to deal with the processing of the conveyancing panel application.
Is there a list of Pepper Money panel solicitors on the Building Society Association’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 previously instructed online solicitors located in Cardiff who are on the Pepper Money solicitor panel. They have just invoiced me a separate fee of £150 for dealing with the Pepper Money mortgage. Is this a supplemental conveyancing fee set by Pepper Money?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitors can charge a fee for this. This fee is not set by Pepper Money but by your lawyers. Some firms on the Pepper Money will charge an ‘acting for lender’ fee and others do not.