Pepper Money (UK) Conveyancing Panel Information

No such training is arranged by the CML although they do organise a number of useful legal related conferences which are attended by firms on the Pepper Money (UK) conveyancing panel. It is our intention to run specific lender focused seminars in the coming months including a webinar on Pepper Money (UK)’s Part 2 obligations. Practitioners on the Pepper Money (UK) conveyancing panel are welcome. Further details will be made available as part of the LENDERmonitor Alerts.

The Law Society of Scotland has suggested that solicitors should check their lender panel status prior to accepting client instructions to act. The advice is lender-agnostic as it does not relate specifically to solicitors on the Pepper Money (UK) conveyancing panel. The suggestion arises from the practice of a number of mortgage lenders who remove solicitors from their panels without prior notice as part of their panel management system, which can lead to some solicitors discovering this only once instructed. This is sensible advice as a client finding out midway through a transaction that their lawyer is not on the approved lender panel is very frustrating and can lead to complaints. Many online consumer forums contain posts where someone is complaining about finding that their lawyer is not on a lender conveyancing panel. Such forums include mumsnet.com

Lexsure only know of two or three banks that operate a separate approved solicitors panel where the mortgage advance is over a certain threshold. You should nevertheless check directly with Pepper Money (UK). At one stage HSBC would only allow Sole practitioners to act for them where the mortgage was below £150,000. We are not sure if HSBC still operate such a condition. In your case it is best to check with Pepper Money (UK)

The Council of Mortgage Lender requirements of Pepper Money (UK) are silent on this. Most lenders deal with the issue of file retention via their Terms of panel appointment where they generally provide that for evidential purposes, the firm must keep the file for at least of 6 years from the date of the mortgage. Data imagining is normally suitable compliance with this requirement. Many lenders point out in that it is the practice of some fraudsters to demand the conveyancing file on completion in order to destroy evidence that may later be used against them. It is therefore important to retain these documents to protect Pepper Money (UK)’s interest. To be absolutely sure of Pepper Money (UK) requirements in this regard please check the Terms and Conditions of Pepper Money (UK)’s conveyancing panel membership.

CQS accreditation gives no guarantee to lender panel acceptance. Nevertheless the CML have indicated that it is likely to become a prerequisite for firms wishing to remain on their approved list of firms. A number of Lenders now use the Conveyancing Quality Scheme accreditation as the starting point for Panel membership as is the case with HSBC.

You need to contact Pepper Money (UK) to obtain standard documents. The The Council of Mortgage Lenders Handbook has an explicit section for lenders to reveal who to contact to obtain standard documents. Please remember to quote your Pepper Money (UK) solicitors panel reference.