Brilliant Solutions

Pepper Money Update

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

Lender Announcement

Product Release

Following the launch of Limited Edition products in September, we’re back with a host of improvements to support you and your advisers. With the recent end of furlough, and the length of the pandemic being 18 months or so, the latest adjustments to our Residential range can help customers most affected over this period. Whether that’s a customer who has had a financial event in the last 18 months, or one that may need a boost to affordability income accepted or a better rate to make it viable, we feel this range can drive our mission to help people succeed.

Please find all updated product and criteria guides attached. Plus, a one-pager which neatly summarises our key benefits for advisers.

What’s changing?

Residential range:

  • Pepper 48 Limited Edition product now available on 65%, 80% and 85% LTV on both 2 and 5-year fixed rates featuring our lowest Residential pricing since 2018 of 2.90%. The Completion Fee on this product is just £995 and all products come with a free valuation.
  • Rates reduced on Pepper 6 and Pepper 6 Light range.
  • Variable income re-introduced following withdrawal earlier this year due to COVID pandemic. We can now boost affordability by accepting 50% of bonuses, overtime and commissions yearly, quarterly, monthly and weekly.
  • Higher LTVs are now back to pre-pandemic levels on our most recent adverse credit products. Pepper 6 is now available up to 80% LTV, with Pepper 12 & 18 rising to 85% LTV.

BTL ranges:

  • The completion fee on our Pepper 60 Limited Edition product has been reduced from 2% to a flat 1%. The product is up to 75% LTV for 3.13%, and is available to customers borrowing in their own name or as a limited company. 

Reminder of pipeline implications

To secure one of our existing products, please ensure you have an agreed Decision in Principle submitted to “DIP Illustration Produced” status by 6pm on Thursday 7th October, with your chosen product selected.

The Full Mortgage Applications for those cases must be submitted with fees paid by midnight on Friday 15th October.

We regret that we will not be able to honour any cases that miss these deadlines.

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