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.
Great news, we’ll now accept earned income to 75 years of age and a maximum age at end of term of 80 on Prime, Plus and XLTV.
Thank you for your continued support. We’re delivering more enhancements today. All are to help make Pepper loans more affordable, and support you to write additional business, and fulfil the borrowing needs of more customers.
These changes can be applied to pipeline cases. If you want to re-advise on a case you have progressing with us, please message us via Nivo.
Earned Income to 75 Years of Age
We recognise that a growing number of customers are likely to be working to an older age. From today, we’ll accept earned income to 75 years of age on Prime, Plus and XLTV subject to the following criteria:
- It must be plausible that the nature of employment / income is sustainable throughout the repayment term.
- All applicants must be below the age of 65 at the time the application is loaded.
Please refer to the ‘‘Customer Planned Retirement Age’ section in our Broker Packaging Guides for further information.
Maximum Age at End of Term
To enable customers with retirement income to release capital from their home to achieve their financial goals we’ll now accept a maximum age of 80 at end of term on Prime, Plus and XLTV.
Please refer to the ‘Customer Planned Retirement Age’ section in our Broker Packaging Guides for further information.