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.
Staff Communication Event
Please be advised that the Pepper Money office will be closed for 1 hour tomorrow morning, at 9:15am on Tuesday 11th of June, for a staff communications meeting.
The office will re-open at 10:15am.
If you have any questions or would like to discuss how Pepper could help your customers, please contact – Matthew Batte 07498 291038 (South), Luke Edwards 07542 321177 (North), Claire Blunt 07519 750079 (North), Nicola Culshaw 07519 750084 (North), Ryan McGrath 07354 249284, or Jennifer Evans 07354 249285.
Further Enhancements
Thank you for your continued support. Based upon your feedback we’re delivering more enhancements today. All are aimed at making it easier, quicker, and less costly to complete a Pepper loan.
Construction Industry Scheme (CIS) Remittance Vouchers
We no longer require up to 2 years evidence of CIS payslips alongside SA302’s where the applicant is paid via the Construction Industry Scheme. Going forward, we will only require the latest 3 months’ worth of CIS payslips in addition to SA302’s.
Update to the Accountant Verification Process
To streamline our Accountant verification process, we will no longer be calling the Accountants on the telephone number provided. Note that we still require the Accountant Certificate to be sent to us on our template or on the Accountants letterheaded paper and provided it contains the same information as present on our template and is addressed to Pepper Money, then we will no longer need to call the accountant.
Customer Decline Letter
We will no longer be issuing a letter to the Customer advising of a declined application. In the event of an application being declined, it is expected that the Broker notify the customer(s) of Pepper’s application decision as soon as possible.
SWAN Consolidation Details Validation Checks
To streamline the Cashout and Confirmation process, we have implemented a number of pre-inception validation checks on SWAN to ensure the Bank Details have been entered in the correct format. Examples of these include:
- Any account number for consolidation that is not 8 characters in length
- Any sort code for consolidation that is not 6 characters in length
- Any sort code for consolidation that is set to 00-00-00
- Any sort code for consolidation that is set to 12-34-56
- Any account number for consolidation that is 12345678
This will ensure we continue to reduce any delays in payout due to incorrect details having been entered on SWAN.
Update to the Proofs of Income To Dos
In order to ensure that you are presented with a full list of documentation requirements as early on in the Application journey as possible, we have now implemented a number of automated To Do’s based on the income specified on the application at the point of submission. This should reduce instances of requesting further proofs of income later on in the application journey resulting in potential delays to Offer.
And finally, just a reminder that Pepper Money Consents need to be granted to UK Mortgage Lending Limited (UKMLL) and not Pepper Money.