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.
Mortgage Deeds, Standard Securities & Offers
We are increasingly finding issues with applications post Mortgage Offer that are leading to increased delays for your customers and increasing levels of complaints.
We would like to request that you follow the below points when dealing with offers from Pepper.
- If the customer is printing the Mortgage Deed themselves the quality of the print should be similar to the quality of our print. If anything is not clear a re-doc will be requested.
- The Mortgage Deed must have our MD reference at the bottom (MD1611A). When some customers print at home this is being cut off or is not clear. Again, in this instance a re-doc will be sought.
- When the Mortgage Offer is made available to you, you should check that the details are correct including product, loan amount, term and rate. It is exceptionally difficult for us to amend any errors after completion and we may not be able to do so.
- When signing the Standard Security, your customers should be aware of the Scottish Land Registry regulations around acceptable signatures. These can be found in our Broker Bulletin sent out on 15th August 2022.
- A customer needs only to return the Mortgage Deed/Standard Security, any special condition documents and the consolidation form to us. There is no requirement for them to send the full offer pack back to us.
Any Mortgage Deed/Standard Security received which do not meet the required standard will only result in delays in us being able to provide the customer with their funds.
First Mortgage Consent
Please note that we are seeing some First Mortgage Consent’s (particularly Santander) with the term ‘Confidential’ in the top corner. These consents will be rejected by Land Registry and therefore are not acceptable to us