Pepper expects to rebrand Optimum Credit as brokers welcome second charge entry

  • 09/10/2018
  • 0
Pepper expects to rebrand Optimum Credit as brokers welcome second charge entry
Pepper Money is expecting to rebrand Optimum Credit once it has completed its purchase of the second charge lender.


Pepper announced the deal late on Friday with the lender acquiring Optimum Credit’s entire business, including a second charge loan book of more than £450m.

Cardiff-based Optimum Credit was launched in 2014 and is currently owned by Patron Capital, with the deal remaining subject to regulatory approval.

Pepper Money told Specialist Lending Solutions: “As part of the purchase, we will be reviewing options for how Optimum is incorporated within the Pepper family.

“All Pepper-owned businesses trade under the Pepper brand, so we expect Optimum will transition to a Pepper brand in time.”


Brokers welcome deal

Brilliant Solutions managing director Matthew Arena (pictured) said the deal was great news.

“Pepper excels in specialist lending but has seen fit to purchase an existing operation which shows an acknowledgement that secured loans requires a unique skill-set and distribution base,” he said.

“Pepper’s own expertise will only add to the existing Optimum business.”

This was echoed by Brightstar Financial CEO Rob Jupp, who agreed it was a positive move for the second charge market.

“Pepper has quickly established a leading brand in specialist first charge lending and has announced its exciting plans to become a bank,” he said.

“It’s one to watch for the future and it’s fantastic that it sees second charge mortgages as a core part of its proposition.”

Kevin Hindley, CEO of Fluent Money Group, added it had built a close relationship with the directors and staff of Optimum and was pleased with the news.

“Pepper Money’s purchase of the business will ensure that Optimum Credit will become an even more significant leader in the second charge sector.

“They have represented the second charge sector with distinction and the purchase is a testament to their dedication to what is best for the industry and their customers.”


There are 0 Comment(s)

You may also be interested in


Keep up-to-date with all the breaking bridging and short-term lending news and analysis, from regulatory changes to product innovation and inside market knowledge. Take a look at our broker and lender case studies showing short-term finance in practice.


Find all the news, opinion and analysis for property finance brokers specialising in commercial and semi-commercial mortgages, alternative and development finance for commercial investments in residential projects.

Second charge

Stay up-to-date with the latest news, analysis and opinion on the secured loan market as it evolves into a mainstream finance option following European regulation on 21 March 2016.

Complex buy-to-let

Whether it’s a complicated asset or a complex customer, you’ll find out all the breaking buy-to-let news in this section. From limited companies to portfolio landlords, student lets to a House in Multiple Occupation, we’ve got all bases covered with our up-to-the-minute news, analysis and opinion.

Mortgage Solutions

Find all the breaking news, analysis and industry comment on Specialist Lending Solutions' sister site, Mortgage Solutions
Read previous post:
Fleet Mortgages launches fixed fee buy-to-let products

Fleet Mortgages has launched a series of fixed-fee mortgages to expand its existing product range, aimed at helping advisers who...