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.
Product Withdrawal Notice
We are making changes across our entire product range.
These changes will be implemented overnight on Tuesday 27th September.
If you have any customers wishing to take advantage of our current range then please ensure you have completed a decision in principle and progressed it to the “DIP Illustration Produced” stage with your chosen product selected, by 5pm on Tuesday 27th September.
All Full Mortgage Applications for our current product range must be fully submitted, with upfront fees paid, by 5pm on Thursday 29th September.
Due to the BOE changes and the governments mini budget, the market and rates have moved. Unfortunately, this means we will now have to make further changes and the rates we sent over at the end of last week, will not be made live. We are still releasing rates, just different to the ones intended.
We will continue with the timelines, which I have shared again below. Really sorry to make such a last minute change. I do hope you understand…
Please note that the following information is under embargo until Wednesday, 28th September. Timelines are as follows:
- DIPs in by 5pm Tuesday 27th Sept
- Technical release Tuesday 27th Sept
- New range launches to market 9am Wednesday 28th Sept
Full Mortgage Applications required to be fully submitted by 5pm Thursday
Following the notification we issued last week and continued market volatility, which is impacting pricing for all lenders, we have implemented a re-price to our range following significant increases in the cost of funding. The changes impact our Residential, Buy to Let and Affordable Homeownership ranges.
With the market and rates changing at pace, we understand the pressure, you may face from your customers who are anxious to get their applications over the line. It is evident we will all need to continue to respond to market movements in the coming months. However, we value your time and will always endeavour to notify you of our changes in advance, providing reasonable time to secure a Pepper mortgage.
You can place your case and trust in Pepper to ensure we provide you with all the necessary resources and specialist support you need to find the right solutions for your hopeful homeowners.
Our service level remains market-leading to combat the growing uncertainty that your customers are facing. As rates continue to rise, you can depend on Pepper Money for consistency, transparency and service efficiency.