Proc fees - when your proc fee will be paid

Lenders send payments by BACS which can take anything up to 5 working days to clear at PMS. PMS then make payment to brokers once the funds have cleared in our account.  

Overview

Who we are

Pepper Money is a specialist mortgage lender offering Residential, Buy to Let and Affordable Home Ownership products exclusively through intermediaries.

We exist to help people succeed, looking for opportunities to say yes, rather than reasons to say no. By taking a human approach to underwriting, we build a clearer picture of your customer to support fair and responsible lending decisions.
 

Helping you to support more customers

Many customers today sit just-off-high-street, with circumstances that don’t quite fit automated lending models, despite being financially sound.

Whether it’s complex income, a recent life event, or a small credit blip, we aim to provide a route forward. Our flexible approach is designed to help those customers who may narrowly miss mainstream criteria, without compromising on clarity, consistency or service.

A human approach to underwriting

Every case is assessed on its own merits.

• No credit scoring, decisions aren’t driven by a single metric
• Applications reviewed by experienced, mandated underwriters
• Direct access to underwriters throughout the case
• Senior review on declined cases to give applications every opportunity for a positive outcome

This approach provides greater certainty and a clearer path to offer for you and your customers.

Flexible and inclusive criteria

Supporting customers with diverse circumstances

• Transparent product structure based on registration date of latest credit event
• Full income from working visa holders is accepted when applying with an applicant with a permanent right to reside in the UK
• No value limit on CCJs and defaults in many cases
• No requirement for adverse credit to be satisfied
• Customers in active Debt Management Plans accepted on our DMP range
• Dedicated range for customers who have a satisfied bankruptcy order or Individual Voluntary Arrangement over three years ago

A broader view of affordability

• No debt-to-income ratio
• Unsecured credit never affects product tier
• Up to 100% of variable income, such as monthly commission, car allowance and bonuses accepted for affordability
• Self-employed customers from one year’s trading or latest year used for affordability
• Flexible treatment of contractors and company directors
• Interest only up to 60% LTV with no amendments to criteria
• Additional income sources, including benefits, may be included

Pepper Flex: more opportunities to say yes

For customers who fall just outside standard criteria, Pepper Flex can help bridge the gap.

• Integrated into the normal application journey, no separate products or processes
• Activates only when a case would otherwise decline
• Retains the original product and rate
• Applies a transparent, proportionate completion fee to reflect additional flexibility

Pepper Flex can support a wider range of scenarios, such as recent job changes, payday loans within the last year, or more complex personal circumstances, such as married customers applying in a sole name, helping more customers access competitive mortgage options.

Buy to Let: Say Bye to Less

Our Bye to Less approach simplifies Buy to Let for landlords with smaller portfolios.

• Designed for cases that sit between high street and specialist lending
• Straightforward processes with minimal paperwork and no proof of income
• No portfolio stress testing
• Rental based on market rent rather than current income
• Capital raising for most legal purposes up to max LTVs
• Max 10 properties in the portfolio
• Rental coverage 125% of payrate for limited company landlords and standard rate taxpayers holding properties in a personal name
• Multiple deposit sources accepted, including gifted

It’s a practical, flexible solution for landlords who want simplicity, speed and clarity, without compromising on lending capability.

You’re better with Pepper

You can discuss client circumstances with their experienced BDM team before submitting a DIP.  

Find your BDM or call on 03333 701 101 

Important information

For professional intermediary use only. Not for distribution to retail customers. Your customer’s home may be repossessed if they do not keep up repayments on their mortgage. All lending is subject to status, affordability, underwriting and lending criteria.