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Pepper refreshes criteria across range

  • 01/06/2016
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Pepper refreshes criteria across range
Specialist lender Pepper Homeloans, has enhanced its self-employed criteria cutting the minimum trading period to one year.

The specialist lender has also reduced its minimum term for all applications to five years, increased the maximum age for buy-to-let applicants at term-end to 85 and will remortgage registered business owners after six months.

Jeff Knight, head of marketing, said: “As we further strengthen our position in the UK mortgage market we are continually seeking opportunities within specific market niches. One such niche is the self-employed and this is a growing opportunity for intermediaries.”

The lender will also consider rental income in the affordability calculation if it is not the sole or primary income.

Intermediary-only lender Pepper Homeloans launched in 2015 and does not use credit scoring to assess applications.

Richard Spinks former chief mortgage officer and programme director at Saffron Building Society, joined Pepper as director of lending operations in April.

Mortgage grandee Colin Snowdon (pictured) also joined Pepper earlier this year after a career involving the launch of five mortgage lenders including Aldermore and most lately helping Sainsbury’s consider its mortgage options ahead of launch.


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