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approved by PepperMoney
Ready to buy a new home? Failing to check that a lawyer is on the PepperMoney list of approved solicitors can put your transaction at risk of delay or failure.
Find an Approved Solicitor on the Pepper Money Conveyancing Panel
Examples of recent questions relating to the Pepper Money Solicitor Panel
Is there a reason why all UK lawyers are not on the Pepper Money Solicitor panel?
Before the recession most lenders had an appetite for risk which was higher than today. The Financial Services Authority in 2010 conducted a thematic review into mortgage fraud which concluded: know the conveyancing solicitors that you are dealing with. Consequently, lenders have regularly sought more information from law firms about their operations and the individuals who work for them and set certain criteria such a completing on a minimum number of transactions. Many firms that have been excluded from lender panels have 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Such firms were never going to meet the criteria of volume of transactions the lenders required.
We are due to exchange on the purchase a house but as a result of damage from the recent storms I have agreed compensation from the seller of £3k approx by way of a reduction in the price. This was going to be dealt with as part of the conveyancing process but my mortgage company Pepper Money will not agree to this. Why was Pepper Money even consulted?
Your lawyer being on the Pepper Money conveyancing panel is duty bound to inform Pepper Money of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to Pepper Money then they would have to discontinue acting for you and Pepper Money.
Do I have to visit the offices of the Pepper Money conveyancing panel solicitor to sign the legal charge? If so, I will appoint a lawyer who conducts conveyancing in Newcastle
so that I can pop in to their offices when needed.
Whereas this was necessary twenty years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in Newcastle
.
Please explain the implications if my lawyer’s firm is suspended from the Pepper Money Conveyancing panel prior to completion?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have ti instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by the regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
Hi, thinking about buying a house off my mate. Assuming we can agree a figure, what’s the best way to proceed? I plan to obtain a mortgage with Pepper Money. 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 involved you will need to appoint a solicitor on the Pepper Money 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. Feel free to use our search tool to look for a licensed conveyancer or solicitor on the Pepper Money conveyancing panel.
Planning on purchasing a house with a mortgage with Pepper Money. 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 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 conveyancing panel
I was told three weeks ago that my mortgage has been agreed
to by Pepper Money. Is it usual for Pepper Money to only issue the offer once my
solicitor is approved on their conveyancing panel?
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Pepper Money to deal with your lawyers application to be on the Pepper Money conveyancing panel. There's no guarantee that your solicitors will be accepted.