Pepper Money gains regulatory approval for Optimum Credit integration

  • 06/01/2022
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Pepper Money gains regulatory approval for Optimum Credit integration
Pepper Money has secured regulatory approval to complete its integration with Optimum Credit, over three years after its initial purchase.


Optimum Credit will be rebranded as Pepper Money, so the lender will now offer a range of first and second charge mortgages.

The rebranding will happen in around three weeks’ time and Pepper Money said the integration will create “one of the most comprehensive specialist lending propositions in the market”.

Pepper Money bought second charge lender in Optimum Credit in 2018, which included a second charge loan book of more than £450m at the time.

Optimum Credit was launched in 2014 and has advanced funds of over £1bn since it was founded.

Laurence Morey (pictured), chief executive at Pepper Money, said the goal at Pepper Money had always been to become the number one specialist lender by “delivering a proposition that supports greater financial inclusion”.

He said the purchase of Optimum Credit was part of the plan, as he described it as the “leading second charge lender in the market”.

Morey added: “Optimum Credit has such a strong reputation, it was very important that we let it continue to do what it has been doing so well for a number of years and so many of our customers and brokers would have noticed little change. But in the background, we have been working on getting everything right to bring the two businesses together under the Pepper Money brand.

“Today is an important step on our new journey. The closer collaboration will open up new opportunities for our business and our intermediaries, laying the foundation for us to further build on our proposition in the future.”

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