Pepper Money launches payout before consent on second charge mortgages

Pepper Money has launched payout before consent on its second charge mortgages, enabling the lender to advance funds to a customer when consent from the first charge lender is the only outstanding item.

Following the success of its offer before consent system, payout before consent will aim to further accelerate the application process, reducing the time from application to completion by up to 15 days.

Ryan McGrath, second charge sales director at Pepper Money, said: “The launch of Payout Before Consent is the latest enhancement to Pepper Money’s Second Charge mortgage proposition, which continues to go from strength to strength.

“Where a customer’s first charge mortgage is held with one of 21 approved lenders, we’ll be able to reduce the time from application to completion by up to fifteen days, providing even faster access to funding.

“This latest enhancement, which follows rate reductions and the launch of e-signatures earlier this year, will speed up the second charge mortgage process and provide brokers with greater certainty in helping their customers to achieve their financial goals.

“Consistently delivering outstanding service is a core focus for us at Pepper Money. We work with a closed panel of intermediary partners with whom we build close working relationships to ensure the best possible customer results.”