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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.
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Pepper Money Conveyancing Panel Recently Asked Questions
My husband and I are purchasing a 2 bedroom flat in Newcastle with a mortgage from Pepper Money. We would like to retain our solicitor but Pepper Money says she’s not on their "panel". We have to appoint 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?
No, not really. 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
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.
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.
We're in Birmingham, FTBs purchasing with a mortgage (lender is Pepper Money , but our lawyer is on the Pepper Money conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Pepper Money conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a time-frame for your conveyancing due to third parties outside of our control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain
Is there a list of Pepper Money panel conveyancers 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 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.
It is not clear whether my mortgage offer requires a lease extension . I have called Pepper Money on various occasions and told it wasn't a problem and they would lend. My solicitor - who is on the Pepper Money conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. Who do I believe?
Your lawyer has to follow the CML Handbook Part 2 requirements for Pepper Money. Unless your lawyer obtains specific confirmation in writing that Pepper Money will go ahead your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask Pepper Money to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.