Pepper Money makes criteria changes

Michael Lloyd

April 9, 2018

Pepper Money has revamped its product range, changing it’s criteria, making interest-only available as a repayment method on residential remortgages up to 60% loan-to-value.

Missed payments on fixed term credit agreements are now being acceptable after six months and the minimum age has been reduced to 21.

Self-employed borrowers can now include additional income considerations as part of their affordability assessment. These include expenses add-backs, directors’ car allowance, directors’ pension contributions, use of home as office and private health insurance.

Rob Barnard, sales director at Pepper Money, said: “We are always reviewing our products and pricing to ensure that we can make it as easy as possible for brokers to find a home for their interesting cases.

“Last week we slashed rates on a limited edition range of keenly priced products and today we have enhanced our criteria across a number of key areas.

“I think this goes some way to show the scale of Pepper’s commitment to brokers and our ambition to help even more borrowers.”

Sign up to our daily email