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Please note we don't lend on properties in Scotland & Northern Ireland.
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Pepper Money are a multi-award-winning specialist lender offering Residential and Buy to Let mortgages exclusively through intermediaries.
Pepper Money believe in challenging the accepted.
They pride themselves on their ability to look beyond the numbers on a credit score and their specialist team of skilled, mandated underwriters review each case on its own merits.
So, if you’ve got a client who’s recently self-employed, has credit blips, a complex income, young credit history or previous financial difficulties, speak to Pepper Money.
Why complex and challenging cases?
As part of their mission to help intermediaries support borrowers with adverse credit, Pepper Money conducted research in Autumn 2019 to discover more about what adverse credit means for brokers and borrowers.
Here’s three interesting insights from the Adverse Credit Study which show why intermediaries should be optimistic about this specialist area:
- There’s a 1.26m strong market of adverse borrowers looking to purchase a property in the next 12 months
- From the market of adverse borrowers, more than one third (34%) were considering a buy to let investment in the next 12 months
- 93% of people surveyed with adverse credit in the last 3 years don’t know that it is possible to get a mortgage with a CCJ registered as recently as 6 months ago
Read the full Study here
Why choose Pepper Money?
Here’s some great reasons that illustrate how Pepper Money can help you and your clients:
- No Credit Scoring - they don’t believe in credit scoring. Pepper Money believe in a personal and manual approach to underwriting with no technological intervention that gives applicants the best chance of receiving an offer
- CCJs and Defaults – are accepted and welcomed. They don’t need to be satisfied and have no value limit. Plus, they can be registered as recently as 7 months ago
- Easy to understand product range – their products are tiered, and pricing is based on when an applicant’s last CCJ or default was registered, starting from more than 6 months ago (Pepper 6) through to more than 48 months ago (Pepper 48)
- Capital raising – Pepper Money can help your clients unlock the value built up in their property for reasons such as debt consolidation or home improvements
- Debt Management Plan (DMP) – Pepper Money have a specific product range to help applicants in an active DMP and those who have a DMP satisfied in the last 12 months
- Self-employed – your self-employed clients need to have been trading for just 1 year. Pepper Money can also look at income based on contractor’s day rates to maximise affordability
- Limited Company Buy to Let – 5-year products are stressed at the pay rate, whereas their 2-year products are stressed at a notional rate. Plus, they don’t stress any other property in the portfolio. Interest only for Limited Company is up to 80% LTV and applicants can be a maximum of aged 85 at the end of the term
- £18,000 minimum income – whether it’s a sole or joint application, Pepper Money’s minimum income requirement is £18,000
- Free Valuation & completion fee options – Pepper Money include the option of a free valuation and completion fee across all their Residential products for properties valued up to £499,999
- Dedicated Regional support – Their RDMs & TBDMs help brokers with their client’s cases by discussing eligibility through to submitting a DIP.
- Free Legals – free standard legals on all remortages available, provided by a reputable firm of solicitors