Here is the latest update from Pepper Money. You can access Pepper Money products through our direct to lender mortgage club and get the benefits of payment on completion. You can also use our Fees Free Mortgage Packager.
Broker Bulletin – Paperless – Removal of Signatures Before Offer
Great news we’re going paperless for new submissions from today; there’s now no need for customers to sign Pepper forms before Offer. Highlights:
- We’ve removed our Application and I&E Forms and replaced them with an Application Summary and Application Declaration.
- The Application Summary doesn’t need to be signed and the Application Declaration only needs to be signed in the Offer pack.
- It’s now much easier and quicker to submit a case to us as we only need proof of income and any supporting information.
- You’ll provide us with bank details during packaging so we can prepopulate the Direct Debit Mandate in the Offer pack.
- Significantly reduced additional Needs as many of these were related to our Application Form, which no longer exists.
- An even higher percentage of same day offers.
- You should find it easier and quicker to gain customer commitment to proceed.
Pipeline Cases
This enhancement applies to all new cases submitted from today. However, if you have a pipeline case with outstanding Needs relating to the Application and I&E Forms you can satisfy the Needs by downloading the Application Summary and Application Declaration from the SWAN documents tab and providing them to the applicant(s). Remember, these forms don’t need to be signed by customers.
Broker Training Pack
Please find attached a Broker Training Pack for full details.
Great News – Rate reduction and new products
We’re delighted to announce that last night, we made enhancements to our product range!
Key highlights of what’s changing:
- Reintroducing ‘mid-fee’ products to our Residential range, for 2 and 5-year products with a £795 fee.
- Reduction of 0.10% on our 5-year fixed rates in credit tiers 48, 24, 18, 12 & 6.
- Addition of 3-year fixed rates to our DMP range.
Why:
The range aims to take advantage of recent swap movements to improve competitiveness, positioning Pepper back in the mix as one of the leading specialist lenders for rates and hopefully garnering more volume.