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.”