Pepper Money widens self-employed criteria for second charge

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  • 16/05/2024
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Pepper Money widens self-employed criteria for second charge
Specialist lender Pepper Money has brought out enhanced lending criteria for self-employed mortgage customers to its second charge range.

Pepper Money’s self-employed customers will be able to access the same rates as employed borrowers up to 95% loan to value (LTV).

Self-employed applicants can use their latest year’s income for affordability calculations across all deals.

In the lender’s prime and XLTV ranges, the firm can request two years’ proof of income, and on its plus range, it will ask for just one year.

Ryan McGrath (pictured), second charge sales director at Pepper Money, said: “Pepper Money has established a strong reputation in providing lending opportunities that level the playing field for the self-employed, and these improvements will help to enhance that reputation.

“When it comes to second charge mortgages, we have recognised some of the challenges faced by self-employed customers and improved our criteria to address those challenges head on.

“As market leaders in the second charge space, we understand that you can never rest on your laurels, and these are just the latest in a full programme of ongoing enhancements to our proposition to ensure that we are best placed to help even more customers.”

Pepper Money has made a number of changes to its second charge range, adding payout before consent and bringing out e-signatures.

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