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Pepper Money (UK) Conveyancing Panel : Questions and Answers
I instructed a solicitor to conveyancing on my remortgage 4 weeks ago having applied for a mortgage with Pepper Money (UK). The firm reassured me that they are on Pepper Money (UK) conveyancing panel and gave me their panel reference. Pepper Money (UK) then ,via my broker advised that their panel number was dormant and would need to be reactivated. What do I do from here? Do I instruct a different law firm currently on the conveyancing panel for Pepper Money (UK)?
The answer depends on whether you still have confidence in the said solicitors and how long it will take for the firm to be reinstated on the Pepper Money (UK) conveyancing panel You may wish to enlist the help of your broker to check with the Pepper Money (UK) as to the time frame to get your lawyer reinstated on the panel once again.
Much to my surprise my conveyancer is asking me for identification documents stating that this forms part of his requirements as a conveyancer on the Pepper Money (UK) Conveyancing panel. Am I being spun a yarn?
Due to Money Laundering Regulations your conveyancing lawyer is duty bound to confirm positively your identification when entering into a business relationship with you. It is a criminal offense if your lawyer not do this. If you do not provide ID early in the transaction the solicitor must refuse to act for you. It’s unlikely a lawyer will turn you away if you come to the first meeting without relevant ID but you will have to produce it at some point so you might as well bring it with you to the initial meeting so the lawyer can tick the ID verification box and start sorting out the conveyancing straight away. If you are getting a mortgage with Pepper Money (UK) your lawyer also has to check ID documents to satisfy Pepper Money (UK)
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 Money (UK) conveyancing panel?
The Council of Mortgage Lenders or BSA do not require online case tracking. Some law firms operate such technology and some don't.
My aunt passed away 10 months ago and as sole heir and executor was left the property. The house had a small mortgage remaining of approximately £8000. I want to have the title changed into my name whilst I re-mortgage to Pepper Money (UK) , pay off the mortgage etc. Is this possible?
If you intend to re-mortgage then Pepper Money (UK) will insist on your using a conveyancer on the Pepper Money (UK) conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Pepper Money (UK) conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Pepper Money (UK) mortgage is registered as a charge at the Land Registry.
How can we tell if a solicitor on the Pepper Money (UK) panel is any good?
Getting recommendations is a sensible start. Before you go ahead check if they offer a no sale no fee offer. Also you often get what you pay for - a firm which quotes more will often provide a better service than one which is cheap as chips. We would always suggest that you speak with the solicitor handling your transaction
It is not clear whether my mortgage offer requires a lease extension . I have called Pepper Money (UK) on various occasions and told it wasn't a problem and they would lend. My solicitor - who is on the Pepper Money (UK) 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 (UK). Unless your lawyer obtains specific confirmation in writing that Pepper Money (UK) 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 (UK) to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.
Intending to buy a flat with a mortgage with Pepper Money (UK). I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Lender 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 (UK) 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 (UK) conveyancing panel
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