Pepper has lost our deeds

B

Bredafc

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3
looking for bit of help, our mortgage was sold on to different lenders and when we have looked to get the property deeds sent to us ,it now appears they cant be found - we requested them and they send us a letter to get signed by our solicitor ,, which we duly sent back, but to no avail ...what would be our next step / our solicitor has had no luck in getting them either
 
Get your solicitor to tell the lender that they need to reconstitute the missing deeds at their own expense.

Why and when do you need them?
 
You need your solicitor to take this up. They need to press the lender for rectification of title, at their expense.
If the property is on registry of deeds only, you should insist on the bank completing first time registration with land registry, which gives cleaner marketable title than reconstituted deeds.

This is more common than it should be. But your solicitor needs to pursue them.
 
ClubMan said:
Get your solicitor to tell the lender that they need to reconstitute the missing deeds at their own expense.

Why and when do you need them?
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don't necessarily need them, was just ticking the box by requesting them as the mortgage has been cleared and as we have no kids was just putting a few steps in place as my husband was ill
 
Hi Breda

You are lucky that you don't need them as this could take some time to resolve.

The bank will probably find them.

Have you contacted the original lender?

Make a formal complaint to both lenders and ask for a Final Response Letter. When you get that , complain to the Ombudsman. That usually gets a bit of action.

Brendan
 
It would not be a Central Bank issue unless it was happening frequently. Then the CB would intervene to make sure that they got their act together.

If Breda has to complain to the Ombudsman and the Ombudsman gets a few such complaints, they would refer it to the Cb.

Brendan
 
jasdpace@gmail. said:
I've heard of Pepper losing loads!
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In that case, you should document them and send it to the Central Bank.
They would be very interested and would take action - but of course, you would need evidence e.g. "loads" of letters from Pepper apologising to their customers for losing their deeds.

If anyone was delayed in switching as a result, there would be even more action from the CB.

Brendan
 
thanks for help ... will push the solicitor to act , he seems to be sitting on it as well
jasdpace@gmail. said:
I've heard of Pepper losing loads!
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guess who this is with .....pepper ! we ended up with them by default !
 
I also know someone whose deeds went missing in Pepper. Seems like there's a pattern here.
 
Without the data, it's hard to know exactly how widespread this issue is. It must be a huge inconvenience when it happens. Surely, the CB are best placed to collate the data by asking banks to self-report in the first instance?
 
Title deeds get lost / misplaced. Its a known fact, even to the Central Bank. There have been well published court cases on this, and there is an established Duty of Care on the part of the lender.
All lenders occasionally cannot find specific documents when needed. Out of hundreds of thousands of physical deeds handled over a 20 to 30 year period, some will be misplaced.
Sometimes the bank never had them in the first place, because the original solicitor never lodged them.
In the case of a fund, sometimes they never received the deeds from the original lender. In particular for lenders that have left the market because they sold everything, whereas banks generally only sell when they have the deeds neatly packaged up. So when it's discovered that deeds are missing, they first check if they got them from the bank.

There is a well worn path in getting this resolved, which every lender has had to undertake more times than they would like.
 
If you are selling your house, or more importantly have recently gone sale agreed, you can sue Pepper if the sale of your property (PPR or BTL) falls through due to the missing title deeds. (Buyer’s solicitor cannot peruse the title deeds given to them on accountable trust and therefore cannot recommend a purchase). This particular issue is becoming more problematic in recent times as a lot of secondary chargeholders have not invested in a security division (some have none whatsoever).
 
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Hi Brendafc. Did you get the deeds sorted out and if so, how long did it take? I have been sale agreed on a house since July; it was taking a long time and eventually found out (via Solicitor) that vendor's finance company (yes, it's Pepper) finally admitted to having lost them (or perhaps never received them from original lender). It's been over 5 weeks since I got that nugget of info. I am wondering how much longer I might expect to wait for the deeds to be reconstituted.
 
Hi apollo11,

Bredafc has not visited AAM for a long time now so may well not see your post unfortunately.
 
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