Pepper money? Anyone have any experience good or bad please

Ako26

Like I said we just asked a friend to sign for us both. Solicitors take ages an when you think your there they will go on about additional surveys for the elec etc

Happyme7

Oh i see i thought we wud have to get 2 witnesses lol

trenewth

We have also used Pepper Money and our move has now turned into the worst kind of nightmare. We exchanged contracts last Thursday after Pepper Money's solicitors (who we paid for) said we were good to go. All contracts exchanged, everything booked. Then yesterday our solicitor's informed us that Pepper Money's solicitors had sat on the request of funds for five days and only just made the request. We now look like we will fail completion, with us being liable for all costs. I have had numerous sleepless nights over Pepper's demands, but his final bit is unbelievable. My family will be homeless on Friday, as we have to go through with the sale, and if the people we are buying from don't agree to complete later on, we lose our deposit and are liable for all costs.

Ako26

Oh no that sounds a nightmare. What has your solicitor said?

Ako26

I worried so much of loosing our deposit which was alot of money. I made it clear to my solicitors how stressed I was and they were great they made sure they received our depot and peppers funds before exchanging. We exchanged and completed within a few hours. My MA did say that there is a select few solicitors who work well with Pepper so I went with one of them.

Happyme7

Oh my goodness this is making me worried now so do i need to request that they transfer funds before exchanging?

JasonHand

Happyme7 wrote: »

Oh my goodness this is making me worried now so do i need to request that they transfer funds before exchanging?

If you are really stressed HappyMe the best bet in that regard is to exchange and complete the same day. That way your deposit money is safe until you actually complete.

I did exchange a few days before simply because of logistics and I admit I was very stressed on completion day.

But once I exchanged and sent my funds I made sure my solicitors were on top of everything and to ensure Pepper were all set to release the funds on completion day.

JasonHand

trenewth wrote: »

We have also used Pepper Money and our move has now turned into the worst kind of nightmare. We exchanged contracts last Thursday after Pepper Money's solicitors (who we paid for) said we were good to go. All contracts exchanged, everything booked. Then yesterday our solicitor's informed us that Pepper Money's solicitors had sat on the request of funds for five days and only just made the request. We now look like we will fail completion, with us being liable for all costs. I have had numerous sleepless nights over Pepper's demands, but his final bit is unbelievable. My family will be homeless on Friday, as we have to go through with the sale, and if the people we are buying from don't agree to complete later on, we lose our deposit and are liable for all costs.

Treneweth this sounds like a pretty horrible situation. It might be worth starting your own thread on this board to see what advice you can get. My thinking is most of the people visiting this thread probably lack the knowledge to advise. But there are loads of top posters / experts on this site who can give you some really good advice.

Deadlinemover

So I was an unfortunate Magellan applicant who had a deadline to exchange contracts on purchase of my new hone, 14/3/2019...notification at 13:38 yesterday that I had to find another mortgage lender.

I have 1 CCJ 6 yrs up in July 19 but is to be repaid with proceeds of sale from my current home. And a default for the same although shows in credit file as 2016!

Mortgage broker sourced new illustration from Pepper albeit with a need to pay upfront £535 for valuation and application fee. Received AIP an hour later. Valuation is yet to be requested although promised request tomorrow with a turnaround time of offer 48hrs. Full application sent an hour after AIP.

I shall miss my deadline of EOC but also had a deadline by the builder to legally complete on or before 29/3/2019.

Already sent:
4 months payslips, 2 x P60, explanation of adverse, statement of CCJ and balance from their solicitor, statement of my spending, 4 months banks statements, memorandum of sale (reservation of property to buy), confirmation of sale of my property, solicitors ordered searches in February, have employers reference.
Signed mortgage declaration and direct debit mandate

Emgrossment documents have been requests to be signed by the builder but I’m reluctant until I have an offer...

Is there anything else that anyone has had requested?

I have a great mortgage broker who does chase things so fingers crossed!!!

Ako26

I had to send utility bills, proof of age for our children, they may wish to contact your employer also but they didn't with us