Pepper Homeloans enhances lending criteria

Pepper Homeloans has enhanced its self employed criteria by reducing the minimum trading period to 1 year.

Related topics:  Mortgages
Rozi Jones
1st June 2016
hand keys house buy business mortgage
"As we further strengthen our position in the UK mortgage market we are continually seeking opportunities within specific market niches."

The lender has also made a number of criteria enhancements to its range of residential and buy-to-let mortgages, in response to feedback from mortgage intermediaries.

The minimum term for all mortgage applications has been reduced to 5 years, and remortgages will be considered for applicants who have been registered owners for 6 months.

For buy-to-let, the maximum age for applicants has been increased to 85 at the end of the term, and rental income will now be taken into account as long as it is not the sole or primary income of the borrower.

Jeff Knight, Head of Marketing, said: “As we further strengthen our position in the UK mortgage market we are continually seeking opportunities within specific market niches. One such niche is the self employed and this is a growing opportunity for intermediaries.”

More like this
CLOSE
Subscribe
to our newsletter

Join a community of over 30,000 intermediaries and keep up-to-date with industry news and upcoming events via our newsletter.