Market-leading specialist lender Pepper Money has launched its new Pepper Flex proposition, which will enable brokers to access competitive mortgage options seamlessly, with no extra work required.
Available on both residential purchase and remortgage products, Pepper Flex has been launched in response to increased customer demand for more inclusive products. It is designed to ensure borrowers get the most competitive mortgage rates through Pepper, without the need for brokers to remember fresh product codes or processes.
The proposition enables Pepper to accept customers who’ve started a new job or are in their probationary period. Also, customers who are married but applying on a sole basis can now be accepted. Furthermore, customers who’ve missed a payment on a fixed-term unsecured credit agreement in the last 6 months will be eligible. Lastly, customers who’ve taken out a payday loan in the last 12 months will be eligible.
The launch comes at a time when the specialist lender is doubling down on efforts to meet the needs of borrowers who don’t fit the rigid criteria of high street lenders, but are responsible customers in a position to buy.
Pepper Money’s more flexible criteria views customer cases holistically, helping more people to realise their property ambitions. The introduction of Pepper Flex means there’s no new tiers, product codes, or screens for brokers to assess, just the guarantee that customers will secure Pepper’s most competitive mortgage rates, with just an adjustment to their completion fee to match the level of additional flexibility.
As the mortgage market continues to evolve, so too do the expectations and needs of mortgage borrowers, particularly those with more complex financial or personal histories. Pepper Money is committed to helping prospective homebuyers access credit and pursue their financial goals, particularly those whose circumstances don’t meet the requirements of high street lenders.
By offering an array of product choices, brokers and customers can be assured that Pepper Money will have the right product to meet their financial circumstances now and in the future.
Paul Adams, Sales Director at Pepper Money, comments: “At Pepper Money, we’re enormously proud of our extensive and inclusive criteria. Pepper Flex means that we can say yes to a mortgage for more customers, whether they recently missed an unsecured credit payment, changed jobs, used a payday loan in the last year or are married but prefer to take a mortgage in a sole name. We simply adjust the completion fee to fairly reflect the additional flexibility required. Brokers can secure the most competitive rates intuitively, without the need for additional forms, products, or screenings for their customers.
“We know that not everyone meets the strict requirements of high street lenders, and with more and more individuals facing challenges that might put a blip on their credit files or employment circumstances, our products are increasingly sought after.
“This latest move to our proposition is in direct response to customer demand, and means we are able to meet the needs of more customers and help them take that next step on their homeownership journey, without compromising on the high-quality service that brokers know to expect from Pepper.”
