Pepper Money loosens BTL criteria

  • 18/01/2022
  • 0
Pepper Money loosens BTL criteria
Pepper Money has reduced minimum income requirements to £15,000 for existing landlord borrowers and widened some lending restrictions for buy-to-let limited companies.


The lender will now allow gifted deposits and has cut the required time in current employment from six months to three months. For continuous employment, this requirement has been reduced from 12 months to six months.   

For limited company landlords, Pepper Money has removed the restriction for the main director to be a homeowner and will now allow deposits into a special purpose vehicle (SPV), such as cash or property transfer, from another limited company. 

The lender will also accept rental income as a standalone income stream for professional landlords with 11 or more properties. 

It has increased its maximum loan size from £1m to £2m and the aggregated customer exposure, the potential a lender can lose if a borrower defaults, has risen from £3m to £4m. 

Paul Adams (pictured), sales director at Pepper Money, said: “At Pepper Money, we are constantly striving to make it as easy as possible for new customers to experience our award-winning service and access our straightforward mortgages. 

“A growing number of landlords are choosing to build portfolios within limited company structures, and this has been another key area of focus for us in enhancing our proposition.” 

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