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Q and A’s regarding the Pepper Homeloans Solicitor Panel
Is there a reason why all property lawyers aren't included on the Pepper Homeloans Solicitor panel?
Pepper Homeloans and other banks tend to restrict either the type or the number of conveyancing solicitors on their approved list of lawyers. A common example of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that Pepper Homeloans have no responsibility for the quality of advice provided by any member of Pepper Homeloans Conveyancer Panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, Conveyancing is not their speciality? To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime; probably not.
We are getting closer to an exchange and my mum and dad having transferred the 10% deposit to my lawyer. I am now advised that as the deposit has not come from me my lawyer needs to make a notification to my lender Pepper Homeloans. Apparently, being on the Pepper Homeloans conveyancing panel and acting on their behalf he must inform Pepper Homeloans if the balance of the mortgage advance is not just from me. I informed the bank about my parent’s contribution when I applied for the home loan so is it really necessary for this now to be an issue?
Your lawyer is obliged to check with Pepper Homeloans to make sure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only report this to Pepper Homeloans if you agree, failing which, your lawyer must cease to continue acting.
Do all the licensed conveyancers and solicitor practices listed on your search have online case tracking as I was under the impression that this was a precondition of being on the Pepper Homeloans solicitor panel?
The Council of Mortgage Lenders or BSA do not require online case tracking. Some law firms operate such technology and some don't.
I am trying to get my ex-wife taken off the mortgage deeds. Can Pepper Homeloans really insist on which solicitor I can or can not instruct?
You can use any solicitor you like but Pepper Homeloans then has the right to appoint a different solicitor to act for them at your expense. It might be more cost effective and quicker to instruct a lawyer who is on the Pepper Homeloans solicitors panel
I have a mortgage with Pepper Homeloans. My grandfather retired last week and wants to pay off my mortgage. After Pepper Homeloans is paid, I want to transfer the property to my mother's name; How long will it roughly take? Do we need two separate solicitors on the Pepper Homeloans conveyancing panel? I do not intend to live at the property once the Pepper Homeloans mortgage is discharged.
You
will need a solicitor but they need not be on the Pepper Homeloans conveyancing panel.
You will need a solicitor to draw up the transfer and
to deal with the Land Registry formalities. The only thing you need to
consider is that by selling at an undervalue so ask your lawyer about
the implications. There could be an inheritance tax issue if you die
within 7 years of this. There's no capital gains tax for you as it is
your main residence.
I was told two weeks ago that my mortgage has been agreed
to by Pepper Homeloans. Is it usual for Pepper Homeloans to only issue the offer once my
solicitor is approved on their conveyancing panel?
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Pepper Homeloans to deal with your lawyers application to be on the Pepper Homeloans conveyancing panel. There's no guarantee that your solicitors will be accepted.
My ex -wife’s name is on the Pepper Homeloans 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 Homeloans mortgage in order to sell?
In terms of the Pepper Homeloans 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 Homeloans 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.
Other Topics
Transfer of Equity for Pepper HomeloansPlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors