Zinga Financial Services has completed a hard-to-place case for an Almost Primer with Pepper Money, helping a self-employed customer with minor adverse to purchase a new home. 

The broker was working with a couple, one of whom was self-employed and wanted to borrow 85% LTV to purchase a property in London. However, the self-employed applicant had a small financial blip due to missed payment over four years ago following a change of address, so their circumstances weren’t straightforward. In addition, the recruitment business owned by the self-employed applicant had been severely impacted by Covid and while the last year’s profit was good, the previous year had shown a loss. As a result, the application had been rejected by high street lenders. 

However, Pepper Money is a specialist lender that is both able to lend to self-employed customers based on their latest year’s accounts and consider adverse credit. Pepper was able to offer the customer a 2-year fixed-rate mortgage at the LTV they required. 

Manooch Suree, from Zinga Financial Services, says: “Our customer was self-employed and the business had suffered during Covid. A historic financial mishap also made the case more difficult to place, but Pepper Money was able to base affordability on the most recent year’s accounts and accept customers with less than perfect credit history. They took a logical, customer-centric approach and worked at speed to get the deal done. The underwriter on the case was very helpful and always called us following an email to explain the requirements and why they were being asked. 

Ryan Brailsford, Director of Business Development at Pepper Money, says: “Covid impacted many businesses and, with some lenders, a drop in income over the last three years can make it difficult to get a mortgage. But at Pepper Money, we can base affordability on the latest year’s accounts for self-employed customers and, with our considered approach to adverse credit, we were able to help these Almost Primers into their new home. We worked in collaboration with Manooch and the team at Zinga Financial Services to make sure an offer was issued quickly, and the case completed smoothly. When it comes to customers who don’t fit high street criteria, Pepper Money should be a broker’s first call.”