Specialist lender Pepper Money has released a range of products for borrowers who have been discharged from bankruptcy or an individual voluntary arrangement (IVA).
It caters for those who have been discharged from bankruptcy or an IVA three years prior to their mortgage application.
Its two-year fixed rate is priced at 6.74 per cent and its five-year fixed rate is 6.84 per cent. Both are available up to 75 per cent loan to value (LTV).
The lender has also changed its core range criteria to permit customers who are in a debt management plan. This gives customers more options, higher LTVs and lower rates.
Paul Adams (pictured), Pepper Money’s sales director, says: “We understand that people do have life events, such as divorce or loss of employment and that this can create stresses on finances which at worst, can lead to bankruptcy or an IVA.
“It’s important to understand the situation and establish whether a customer has resolved whatever issues led to the bankruptcy or IVA in the first place, as with any other credit event. But it’s also important to offer these customers a fresh start when it is clear they have put their previous issues behind them.”
He added that financial inclusion was a key component of its lending strategy and it was important to provide more mortgage options to customers who had taken steps to tackle their debt through a debt management plan.
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
