View more on these topics

New specialist lender Pepper UK launches

New specialist lender Pepper UK has launched as a lender just over a year after it first announced its intentions.

Mortgage Strategy revealed in September 2013 that Pepper Group was planning to launch a mortgage lender in the UK.

The non-bank lender has confirmed it is piloting a suite of residential and buy-to-let products through Brightstar Financial and Mortgage Advice Bureau, with plans to expand its distribution panel over the first quarter.

Residential product rates will start from 3.6 per cent, while its buy-to-let range will start from 4.35 per cent.

The lender says all products will have multiple repayment options, including fixed rate terms up to five years.

Pepper UK is targeting borrowers who have been unable to qualify for a standard mortgage from a mainstream lender.

Pepper UK chief executive Richard Klemmer says: “After conducting extensive market research throughout 2014 we are convinced this is the ideal time for us to launch Pepper Homeloans. Market conditions and economic indicators are favourable and it’s clear there is a place in the UK mortgage market for a new specialist lender.

“The revived securitisation market, the drop in arrears and repossessions, and the intelligence we have gained via Pepper’s vast data from our existing loan servicing portfolios have all given us complete confidence to launch in 2015.”

The lender was rebranded from Oakwood Global Finance in February last year, following its September 2013 purchase by Australian-based Pepper Group.

Recommended

Rickards-Phil-CUT-2010

Analysis: New opportunities beckon for brokers

There is no doubt that 2015 has the potential to be another very big year for the mortgage industry.  You may say: “What’s new? Eventful years are now the rule rather than the exception.” But while every year brings changes and challenges, 2015 is going to be right up there for both change and potential […]

Berry-Jason-700.jpg

Analysis: Bedroom-rated insurance is a boon

Do your clients know exactly how much their home is worth? How about its contents? Have they ever taken the time to tally them up?  Few of us do. But when it comes to buildings and contents insurance, it can be crucial. Otherwise, your insurance policy may leave you under-insured. I read an article recently […]

Smee-Paul-Headshot-700.jpg

Analysis: Stamp duty reform was long overdue

The Autumn Statement finally brought much needed change to stamp duty after years of the CML and other organisations calling for it. But the swiftness of the move was a shock. To have a new system in place immediately, rather than a drawn-out consultation process, is jaw-dropping but still welcome.  The old slab system was […]