Pepper Money said this was part of its “commitment to simplifying the application process for brokers and customers alike”.
It explained that reducing documents would ease the bureaucratic burden and offer a smoother and quicker customer journey.
As part of the change, borrowers needing an offer extension will not need to supply bank statements.
There is also not a requirement to offer an assured shorthold tenancy (AST) agreement for applications from renters.
Pepper Money said there may be instances where it may need documents to cover a longer period to complete their necessary financial checks.
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The firm added that it would continue to fully verify income from applicants and can use credit reference data to understand financial history and conduct via credit reports.
Paul Adams (pictured), sales director at Pepper Money said: “We understand just how hard mortgage brokers and administrators work to support their customers to complete their home buying journey. By simplifying the number of bank statements required for mortgage applicants, we’re helping to alleviate some of that administrative burden, meaning that brokers and administrators can focus on the job at hand.
“Pepper Money is committed to continually improving our services, and these changes to bank statement requirements follow a host of recently announced service and product enhancements. These include the introduction of Pepper Flex to meet customer and broker demand for more inclusive products, and our re-entry into the buy-to-let market, which includes houses of multiple occupation (HMO) properties.
“These changes to bank statement requirements will make a real difference to the mortgage application process and enhance Pepper Money’s efforts to ensure flexibility when accessing finance, supporting customers and brokers throughout the homeownership journey.”
