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.
Affordability Boosts – Better With Pepper!
Self Employed – We will only ever use the latest years income figures along with company accounts or SA302’s, we will then request the latest 3 months bank statements as this is a more up to date and common sense approach of reviewing the income your customers receive. If your client has only been trading for 12 months, we will use these figures with the same requirements needed as mentioned above. LTD company directors can also add the following expenses back in to affordability – Directors’ car allowance, Directors’ pension contributions, use of home as an office, private health insurance.
Employed – We will also accept 100% of any second job income & any bonus, overtime or commission received regularly.
If you have any clients receiving maintenance income, this doesn’t have to be court ordered. We just require evidence of the last 6 months payments via bank statements.
Debt consolidation enquiries are increasing as well and there are a number of our policies that aid better affordability outcomes for clients.
- No credit scoring = No debt-to-income Ratios
- Debts being repaid are fully removed from affordability calculations
- We’ll use earned income for affordability up to age 75