Pepper Money replaces cheques with e-payments in sustainability move

The lender sent more than 10,000 cheques to borrowers last year on the completion of their second charge mortgages. It said the move to electronic methods could save nearly 300,000g of CO2 emissions each year by cutting down on print and postage. 

The lender will now allow borrowers to send payments via bank transfer, which it said would improve efficiency and security. 

This follows the internal move of Anthony Keeble from the role of the lender’s chief financial officer into the newly created position of director of ESG and sustainability in February. 

Tom Whitney (pictured), head of sales, second charge mortgages at Pepper Money, said: “At Pepper Money, we understand the role that all lenders must play in helping the drive towards a carbon neutral economy. As part of this, we are not just investigating ways we can encourage more energy efficient home ownership, but we’re also looking at our own processes to see where we can make improvements.  

“By moving from cheque payments to electronic payments, we’re able to provide a service that isn’t just more efficient but is also more environmentally friendly.”