EXCLUSIVE: Pepper and L&G sign distributor deal
L&G will offer Pepper’s full mortgage range through its Key Partnership firms, while it plans to expand distribution to the full Mortgage Club shortly.
Pepper’s residential rates start at 1.99% and its buy-to-lets at 2.49%, while it evaluates its applications on a case by case basis without relying on automated credit scoring.
Richard Klemmer, chief executive of Pepper UK, said: “We are delighted to have Legal & General Mortgage Club join our distribution panel. With a long established presence in the UK, we are proud to be working with a high quality partner who has a detailed understanding of the market.
“We already work with a range of extremely experienced intermediaries and we are confident that adding Legal & General Mortgage Club to our panel will complement our proposition.
“Our goal at Pepper is to offer solid, responsible solutions to those who, for one reason or another, have faced difficulties in securing the mortgage they need. We look forward to building a long term relationship with Legal & General Mortgage Club.”
Australian-based Pepper launched into the UK market in June with an ambition to cater for reputable customers who suffered a credit blip.
Jeremy Duncombe, director at Legal & General Mortgage Club, said: “Our aim at Legal & General Mortgage Club is to offer a wide range of products and lenders to our intermediaries to enable them to offer competitive products to all types of customers.
“Working with Pepper allows us to continue to add value to our intermediary partners, and continue to serve some of the underserved borrowers in the market.”