Find an Approved Solicitor on the Pepper Money
FAQs : The Pepper Money Conveyancing Panel
My fiance and I are buying a 3 bedroom apartment in Newcastle with a mortgage from Pepper Money. We like our solicitor but Pepper Money says she’s not on their "panel". It seems we have little choice but to instruct one of the Pepper Money panel solicitors or keep our solicitor and pay for one of their panel ones to represent them. We feel as though this is unjust; is there anything we can do?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the Pepper Money conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for Pepper Money
My wife and I intend to remortgage our apartment with Pepper Money. We have a son approaching twenty who lives with us. The solicitor on the Pepper Money conveyancing panel requested us to identify any adults other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the property is forfeited by the lender. I have two concerns (1) Is this form unique to the Pepper Money conveyancing panel as he did not need to sign this form when we bought 3 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 have checked your search tool I can't find the lawyer I was hoping to instruct as being on the Pepper Money conveyancing panel. My lawyer has said that they are on the Pepper Money approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the Pepper Money conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the Pepper Money solicitor panel.
I am buying a terraced house and getting a mortgage with Pepper Money. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing you will have to appoint a solicitor on the Pepper Money conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to made in you doing to conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on the Pepper Money conveyancing panel in your location.
Do most lenders operate their own panel of solicitors?
Many lenders do operate a restricted conveyancing panel but a lot of lenders allow any solicitors to join their panel so long as they meet their criteria. Each lender sets their own criteria. For example the Pepper Money conveyancing panel requirements are different to Pepper Money’s conveyancing panel requirements.
Last month we had a mortgage agreed in principle with Pepper Money. Solicitors have been instructed? What is the average time that one could expect to receive a mortgage offer from Pepper Money?
Some lenders take longer than others. Have Pepper Money done the survey? Have you advised Pepper Money as your lawyers details and checked that your lawyer is on the Pepper Money conveyancing panel? sometimes it can take as long as six weeks for a mortgage offer to be issued
I'm in the process of viewing apartments and now considering a potential offer. Should I already have a conveyancer appointed at this stage? I intend to finance via a mortgage with Pepper Money
You should start obtaining conveyancing quotes from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on the the EA. As you are getting a mortgage with Pepper Money , make sure you remember to check that your lawyer is on the Pepper Money conveyancing panel.