Pepper money

Case Studies

First time home buyer with a poor credit history

We take a more human approach to underwriting, to build a truer picture and reach a fairer outcome. We design products that are easy to understand and simple to place. We strive to make each interaction you have with us easier than the one before. And we share valuable insight and expertise that give you an edge and build your reputation.

That’s why you’ll always find us with our doors and our minds wide open. Ready to challenge convention, read between the lines and see the story behind the numbers. We will find a place for your case with a path to success for your client and your business.

John and his then wife purchased a house, putting the mortgage in her name due to his adverse credit history

Unfortunately, their marital breakdown led to further financial difficulties and more defaults for John

Following their divorce, John, wanted to buy her share of the house but had no previous mortgage or rental history and no deposit

Since the divorce, he'd maintained a clean credit record for over a year with a good job and sufficient income


When John and his wife purchased their house, they decided to put the mortgage in her name due to his adverse credit history.

Following their marital breakdown, John experienced further financial difficulties which resulted in more defaults showing on his credit record.

So when it came to buying out his ex-wife’s share of the house, not only was he applying for a mortgage as a first-time buyer, but he also had no deposit of his own and no history of being a tenant or making rental payments.

He decided to speak to a local mortgage adviser, Brett Cocking of Brytannic Extra Finance Ltd, for advice and help.


Brett could see this was a case for a specialist lender that would be willing to assess John’s application based on his current circumstances and not just his historical credit record.

So when Brett came to us, we took the following factors into consideration:

Although John had a significant history of financial problems, he’d turned his life around and maintained a clean credit record for over a year
He had a stable job and was earning more than enough to afford the loan for which he was applying (an 80% LTV loan on a property valued at £180,000)

Although he wasn’t able to put down a deposit, we took account of the gifted equity resulting from his father’s original gifted deposit as part of the divorce settlement.

Brett Cocking at Brytannic Extra Finance Ltd

“A life event such as divorce can cause all sorts of financial difficulties, but most people get their lives and finances back on track and when they do so, they deserve a second chance. By being willing to assess John’s application based on its own merits rather than just his historical credit record, Pepper Money has been able to construct a deal that enables John to buy his home with a mortgage in his own name and move forward with his life.”