Pepper Money

Pepper entered the UK mortgage market in 2015 and has quickly established a well-respected brand and proposition in the specialist mortgage sector.

We’re a specialist mortgage lender with an appetite for the interesting, providing Residential and Buy to Let mortgages for borrowers whose needs are less straightforward. We have a strong team with significant experience in the UK mortgage market and combine this with backing from a global organisation. We combine these attributes to provide mortgages exclusively through intermediaries that are designed to suit clients with interesting situations.

This includes those with credit blips, the recently self-employed, a complex income, young credit history, or previous financial difficulties.

By working with Pepper intermediaries get access to competitive rates, flexible criteria and direct access to our underwriters, who we support with an accomplished and approachable business development team on the road and at the end of a telephone.

In the last year at Pepper, we have launched a wealth of criteria enhancements, introduced new products, widened our distribution and continued to invest in the support we provide to brokers.

We have also completed a successful rebranding from Pepper Homeloans to Pepper Money and delivered brokers a new online application portal.

Some of the most notable enhancements to Pepper’s proposition in the last year have been:

  • The introduction of a specialist range for borrowers in Debt Management Plans.
  • The launch of day rate calculations for contractors.
  • Improvements to our proposition for the self-employed, including decisions on the latest year’s income and the inclusion of additional income considerations as part of the affordability assessment.
  • The introduction of interest only options for Residential remortgages.
  • Simplification of criteria and streamlined product tiers across entire range.
  • The launch of Pepper’s lowest ever rates.

Throughout this period of change, we have continued to grow our lending volumes whilst maintaining a focus on service delivery, significantly reducing the average time from application to offer, whilst maintaining a commitment to not using a credit score to influence lending decisions or pricing.

On top of this, we have invested in helping to advance the specialist sector, taking a stance against the negative language that was being used to describe the market and conducting an ongoing campaign of intermediary education to raise awareness about the changing needs of mortgage customers and the options available to them from specialist lenders. As part of this we have recently conducted detailed research to establish an hourly rate that brokers can earn on specialist cases compared to mainstream applications.

This continued commitment to advancing the sector, combined with Pepper’s numerous enhancements to its products, service and business development support have helped to establish Pepper as the most talked about specialist mortgage lender in the mortgage trade press to date in 2018, which is quite some achievement given that we are less than four years old.