Pepper Money Update

First Mortgage Consent

We have recently seen an increase on the numbers of Land Registry requisitions relating to First Mortgage Consents not being acceptable. 

Based on this we would like to remind you of the following points you should be checking prior to sending us a First Mortgage Consent.

• We must have the Name and Job Title of the person who has signed the Consent on the document.
• Consent will not be acceptable where the individual who has signed the Consent has PP’d for the signatory.  This has recently been the case with some Santander Consents.
• If a loan amount is mentioned within the document, this needs to be accurate and based on the total gross loan.  If you change the loan amount, a new Consent is needed.
• Where there is more than one Title number please ensure both are showing on the Consent
• Conditional consents cannot be accepted by Pepper Money.
• Unless the First Mortgage lender has an agreement with the Land Registry, E-signed consents are not acceptable.  We may need to see evidence such agreement exists.  Accord Mortgages are an example of this where they will provide Consent with an E-sig, but have no agreement with the Land Registry

Any consents received which do not meet the required standard will only result in delays in us being able to provide the customer with their offer or payout the loan.