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.
Broker Bulletin June 2022 – Rate Change.
Forthcoming Rate Change
Following a review, Pepper will be increasing the Lender Base Rate to 0.95% with effect from July 1st, 2022.
How does this affect Sales I have made or will make?
- 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.
- If you have produced a Mortgage Illustration (ESIS) on our system from 22nd June 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 June 22nd and an offer has not been produced by June 30th, you will need to do the following on July 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.
- If you have made any sales or produced a quote since June 22ndJune, you do not need to do anything and can follow your normal sales process.
Range Reprice – Our trusted service remains
The following information is embargoed until 9am 17th June
It’s no secret that rates are increasing across the market and may continue to rise. Compounded with the cost-of-living crisis, this is seeing very regular changes to lender offerings that can be hard to keep up with and secure the best product for your customer.
With costs of funds rising, we have taken the decision to refresh our product range to align with the market trend and provide greater stability for our intermediary partners.
In this environment, it can be hard to secure existing products when they’re withdrawn quickly. We’re aware of this and are committed to giving fair notice with any change, and our award winning service guarantees a quick turnaround when submitting business to us”.
Although our rates may continue to change, you can be assured we are committed to continuing to offer financially inclusive products and criteria, all of which are underpinned by our dependable award-winning service.
Here’s what has been updated:
- Reprice on our Residential, Buy to Let and Affordable Home Ownership ranges
- Our residential range is now available up to Pepper 48
Speedy service you can depend on from us:
- Within 24 hours, we aim to assess documents and undertake an underwriting assessment
- Calls to Sales Team and Case Owners are answered on average in less than 1 minute
- With the introduction of AVM’s, we are also proud of the fact our quickest completion took just 5 days
- Each case is viewed on its merit with our human approach to underwriting
- Flexible options including cashback
Claim your free energy performance survey
We’re Pepper Money, your Buy to Let mortgage lender.
At the beginning of this year, we set off on a mission to help homeowners reduce the environmental impact their property has on our planet (and save them some money in the process), it’s all part of our long-term commitment to operating an environmentally and socially positive business.
The first step we took to achieve this was offering our residential customers a free Energy Performance Certificate. This has helped them understand their property’s current energy efficiency and performance and recommendations to improve it.
We’re pleased to be extending this offer to you as a private landlord customer of Pepper Money.
With the proposed minimum EPC rating of C for rental properties looking to be implemented in 2025 by the government, understanding energy efficiency is becoming business critical.
Get a FREE energy performance survey, certificate, and action plan on us
We believe it’s super important to understand your EPC rating, which is why we’ll pay for you to have an energy performance survey. The survey is completed by our approved partner, “Vibrant Energy Matters”, for any of your private Buy to Let properties mortgaged with us.
How to book your free survey
Email our team at [email protected] to redeem your free EPC.
Please ensure you submit your request before 31st August 2022 to avoid disappointment!
Our team will then share a form for you to complete to organise a survey at your rental properties.
Please note that you will need to coordinate survey booking with tenants, and neither Pepper Money nor Vibrant Energy Matters are responsible for liaising with your tenants