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 Base Rate Change
Forthcoming Rate Change
Following a review, Pepper will be increasing the Lender Base Rate to 4.20% with effect from May 1st 2023.
How does this affect Sales I have made or will make?
1. If your customer has already received a Mortgage Offer from us, then you need do nothing. Where applicable, we will write to the applicants advising them of the pending Lender Base Rate change.
2. If you have produced a Mortgage Illustration (ESIS) on our system from 25th April then you need do nothing, the ESIS will have the correct Lender Base Rate
If you have produced a Mortgage Illustration (ESIS) on a VARIABLE or DISCOUNTED product prior to April 25th and an offer has not been produced by April 28th, you will need to do the following on May 1st;
- Go to the quote screen in our SWAN system and REQUOTE;
- Then SELECT your product;
- For cases already sent to Pepper, e-mail your newly selected ESIS to [email protected] quoting the application number in the subject line, as well as sending the new ESIS to your applicants.
- For cases that you have not sent to Pepper you will need to send the ESIS directly to your applicants.
5. If you make any sales or produce a quote from 25th April, you do not need to do anything and can follow your normal sales process.