The near-prime lender is testing its systems for six weeks and plans to launch to the rest of the specialist market next year.
Mortgage Solutions understands the lender has ambitious plans for its first year with launch rates expected to start from around 3%.
George Patellis, most lately chairman at Euro Credit Risk, (pictured) is heading up the lending side at Pepper Homeloans. Patellis’ CV includes managing director of Pepper Homeloans Sydney in Australia, MD of Preferred Mortgages and CEO at Tiuta Plc (Tiuta), a regulated mortgage lender.
The Pepper team in the UK is led by CEO, Richard Klemmer, chief financial officer Warren Justice and COO Jerry McHugh who both took up posts in H1 this year.
On its website, the lender describes itself as a specialist lender that caters to customers who require a flexible, innovative mortgage that suits their individual needs.
The website said: “Customers are at the core of everything we do. We strive to provide the best service possible, and every application is assessed by an experienced underwriter rather than an automated system.”
Alongside residential mortgage lending, Pepper Group with offices in Australia, Ireland, Korea and Spain services third-party loan portfolios and is a lending advisor and asset manager.