Pepper UK to administer new Secure Trust mortgages

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Secure Trust Bank has appointed Pepper UK as administrator for its new mortgage business.

Earlier this month the lender launched its UK mortgage division to target those with complex circumstances.

These include contract workers, the self-employed and those with previous credit issues.

The tie-up will see Secure Trust Bank work with intermediaries to lend to customers.

Once the funds have been released to the customer, Pepper will take over the relationship, using its servicing system to administer and manage the mortgage.

Secure Trust will start its distribution through Mortgage Advice Bureau members.

It will lend up to £2m per household and will offer two-, three- and five-year fixed rate mortgages with a maximum LTV of 80 per cent.

 Secure Trust Bank Mortgages managing director Esther Morley says: “As a new player in the market, this is a really exciting time for Secure Trust Bank and we’re delighted to have Pepper on board as a partner.”

Pepper managing director of residential servicing Gerry McHugh says: “Secure Trust Bank prides itself on speed of response and placing complex cases more easily, so we very much look forward to working together as lending balances start to rise.”