Pepper Money has launched a new Limited Edition Remortgage product aimed at supporting customers with recent adverse credit who are looking to improve their cashflow. The product includes £750 cashback paid directly to customers on completion, as well as a free valuation. A £995 completion fee applies, which can be added to the loan.
The remortgage-only product is available on Pepper 18 and Pepper 12 up to 85% LTV, and on Pepper 6 up to 80% LTV.
Pepper Money said it continues to assess each case on its individual merits, with no debt-to-income ratio applied and capital raising allowed up to the maximum product LTV. There are no value or volume limits on CCJs and defaults, and customers are not required to have them satisfied. The lender can accept 100% of monthly bonuses, overtime and commission when assessing affordability, and will also consider applicants with just one year of self-employed trading or a single year’s accounts.
Paul Adams, sales director at Pepper Money, said: “Our latest Specialist Lending Study found that over half (57%) of all respondents have experienced a continued decrease in their disposable income and, at Pepper Money, we understand it can be difficult to save as much as you like month to month.
“This Limited Edition Remortgage product provides customers with extra support once they’ve completed, with £750 cashback that’s ideal for those who need an extra financial boost post-completion.
“As with all our products, the application process is quick and easy with direct access to our underwriters at every stage. We take an inclusive approach to underwriting, with tiered criteria that considers the whole picture – helping to maximise your customers’ affordability and giving you more opportunities to say, yes.”
