Pepper Money (UK) Conveyancing Panel Information

In order to be on the Pepper Money (UK) conveyancing panel solicitors have to complete an application form and agree Terms and Conditions. A sample of 5 conditions that we see amongst many lenders Terms (but not necessarily Pepper Money (UK)) are as follows:

• To quote on all communications with us relating to deeds/registration issues, whether by telephone or in writing, the panel number that we provide for each practising address and the mortgage account or application number for the mortgage concerned.
• To forward the title deeds and documents to another solicitor/conveyancer within 24 hours of an instruction from us requiring you to do so. On forwarding the deeds as instructed you will confirm to us that you have done so. Upon receipt of your confirmation, we will release you from all undertakings relating to your holding the title deeds.
• To notify us in writing of any change in your details as held on our records for example, change of address, telephone number, document exchange number email address. Notification must be given to us at least 10 days before the change will be effective.
• If you are a sole practitioner, to arrange for appropriate locum cover from our panel where necessary. Your locum must be a member of the Conveyancing panel.
• You have the consent of all borrowers to apply for the deeds, before making any request for deeds. We will accept your request for deeds on the understanding that you have obtained such consent. If this is not the case then you should advise our Deeds Services Department in writing when you make your request

The key here is the caveat ‘more onerous’. You have to try and take an objective view as to whether the Terms relating to the Pepper Money (UK) conveyancing appointment (or other terms for other lenders) are ‘more onerous’ than the UK Finance Lenders’ Handbook Conditions. Depending on the Terms you may need to provide details on your renewal form. If you are in any doubt please call your broker to discuss before completing the answer.

Pepper Money (UK) approved solicitors are bound by the UK Finance Lenders’ Handbook instructions relating to Transfer of Equity. These are set out in Section 16.3. First, your firm must approve the form of Transfer of Equity (which should be in the Land Registry's standard form) and, if Pepper Money (UK) require, the deed of covenant on their behalf. You will need to check Pepper Money (UK) CML Part 2 conditions to see if Pepper Money (UK) have standard forms of transfer and deed of covenant. Please note that this requirement can change from one transaction to another so do check! Second,When drafting or approving a transfer, you should bear in mind that: although the transfer should state that it is subject to the mortgage (identified by date and parties), it need give no details of the terms of the mortgage; the transfer need not state the amount of the mortgage debt. If it does, the figure should include both principal and interest at the date of completion, which you must check ; there should be no statement that all interest has been paid to date. Further obligations are set out in the UK Finance Lenders’ Handbook which have to be followed by all firms on the Pepper Money (UK) conveyancing panel

CQS membership is no guarantee to lender panel acceptance. Nevertheless the CML have indicated that it is likely to become a prerequisite for firms wishing to join their approved list of firms. Some mortgage companies now use CQS as the starting point for Panel membership as is the case with Santander.

You should contact Pepper Money (UK) to obtain standard documents. The The Council of Mortgage Lenders Handbook contains an express section for banks to set out who to contact to obtain standard documents. Pepper Money (UK) in their Part 2’s state: Always remember to disclose your Pepper Money (UK) conveyancing panel number.