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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.
Looking for information about your firm's panel status?How does my firm apply to be on the Pepper Money Conveyancing Panel? How can my firm be reinstated onto the Pepper Money Conveyancing Panel?
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FAQs : The Pepper Money Conveyancing Panel
My IFA has asked me for my law firm’s panel reference for the Pepper Money conveyancing panel. What is the best way to find this out. I have contacted my local Pepper Money branch but they don't know it.
the sensible thing to do is ask for this information from your solicitor. A law firm is likely to keep a file or database of lender panel information which would include, if applicable their conveyancing panel details for Pepper Money.
Our solicitor has uncovered a problem with the lease for the property we are buying. The other side have suggested title insurance as a solution. We are happy with insurance and will cover the costs. Our lawyer has advised that as he is on the Pepper Money conveyancing panel he must check that the lender is happy with this solution. Are we the client or is Pepper Money?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and Pepper Money are the client. A precondition to being on the Pepper Money approved panel is to comply with the CML Handbook requirements (last updated for this lender on Pepper Money). The CML Handbook conditions require your lawyer to disclose issues such as defects will the lease so that Pepper Money can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
Do I need to visit the offices of the Pepper Money conveyancing panel solicitor to sign the legal charge? If so, I will instruct a firm who offer conveyancing in Manchester so that I can pop in to their offices if required.
Most conveyancing panel lawyers for Pepper Money undertake all of the work via the post, internet or over the phone. This means that they can undertake your Conveyancing Transaction no matter where you live in England or Wales. However you should check if you can still book an appointment to go into appointed conveyancing lawyer if you prefer.
I am selling my house. Does my solicitor have to be on the Pepper Money conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Pepper Money 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.
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.
My wife and I have arranged a further advance on our mortgage from Pepper Money as we wish to carry out alterations or improvements our home. Do we need to appoint a solicitor on the Pepper Money conveyancing panel to deal with the legals?
Pepper Money would not normally appoint firms on their conveyancing panel 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 panel
I am buying a property where the roof has a solar panel. Pepper Money have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with Pepper Money your lawyer must to check the Pepper Money conveyancing instructions contained in the Part of CML Handbook for Pepper Money . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to Pepper Money where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. The CML are developing guidance for Northern Ireland and Scotland.