Pepper Money has launched Pepper Flex, a proposition aimed at making it easier for brokers to access more competitive mortgage deals for their clients.
The offering is available on both residential purchase and remortgage products and responds to demand for more inclusive mortgage options.
With Pepper Flex, borrowers who have started new jobs or are still in their probation period can now be accepted.
The same goes for customers who are married but applying on a sole basis, those who have missed a payment on a fixed-term unsecured credit agreement in the last six months, and customers who have used a payday loan in the last year.
There are no new tiers, product codes or extra steps for brokers; only the completion fee is adjusted to reflect the added flexibility.
Pepper Money said the changes have been made to help those who do not meet the strict requirements of high street lenders but are looking to buy.
Paul Adams, sales director at Pepper Money, said: “At Pepper Money, we’re enormously proud of our extensive and inclusive criteria.
“Pepper Flex means that we can say yes to a mortgage for more customers, whether they recently missed an unsecured credit payment, changed jobs, used a payday loan in the last year or are married but prefer to take a mortgage in a sole name.
“We simply adjust the completion fee to fairly reflect the additional flexibility required.
“Brokers can secure the most competitive rates intuitively, without the need for additional forms, products, or screenings for their customers.”
Adams added: “We know that not everyone meets the strict requirements of high street lenders, and with more and more individuals facing challenges that might put a blip on their credit files or employment circumstances, our products are increasingly sought after.
“This latest move to our proposition is in direct response to customer demand, and means we are able to meet the needs of more customers and help them take that next step on their homeownership journey, without compromising on the high-quality service that brokers know to expect from Pepper.”
