Pepper Money has launched consent to follow for its second charge mortgage offering, which allows the lender to issue a mortgage offer when consent from the first charge lender is the only outstanding issue.
The lender said that it would “further accelerate the application process” and cut the time taken to issue a second charge offer.
The firm will be able to issue a mortgage offer, providing consent from the following lenders is the only outstanding item:
Natwest, Barclays, Santander, HSBC, Lloyds, Nationwide, Pepper Money, Halifax, Kensington Mortgage Company, Leeds Building Society, Clydesdale Bank, Co-operative Bank, Yorkshire Building Society.
The customer’s funds can then be released once the consent and deed have been provided.
Ryan McGrath (pictured), second charge sales director at Pepper Money, said: “In the current environment, with so many customers opting for a product transfer over a remortgage, second charge mortgages provide an excellent way to release capital from their home and allow brokers to offer their customers an alternative solution.
“At Pepper Money, we’ve reduced the rates on our second charge mortgages. Our broker partners and their customers will now benefit from even faster turnaround times. This enhancement will speed up the application journey with the launch of consent to follow.
“This also means brokers will have greater certainty earlier in the process, which will reassure their customers, enabling them to raise the funds they need to achieve their financial goals.”
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.