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Money Worries

If you are currently experiencing money worries, talk to us, we might be able to help.

You can call us on 03333 701 102 (lines are open 9am-6pm, Monday to Friday) or email us at [email protected] where one of our friendly team will be able to help. Contacting us won’t impact your credit score.

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If you choose to email us, we will respond to your message within 5 working days. This will either be via a telephone call or a letter in the post. If your request is urgent please call us.

What do I do if I can’t make my monthly payment?

We understand the impact that inflation and the cost of living crisis could be having on you, if you’re worried about meeting your mortgage payments now or in the future, we’re here to help, you can contact one of our friendly team on 03333 701 102  (lines are open 9am-6pm, Monday to Friday)

During the call we’ll listen to your situation and work with you to try and find a suitable solution.

We have also set up a dedicated space on our website full of resources to help those customers who need a little extra support.

Complete a budget planner, download our Income and Expenditure form, this will show you what borrowing you’ve got, your fixed and variable costs and what money you’ve got left over each month to make towards repayment.

You could also check to see if you are eligible for any state benefits or tax credits or if you have an insurance policy that could help with meeting payments.

I’m behind in my mortgage payments and worried I can’t catch-up, what can I do?

We understand this can be a stressful situation to be in and we’re here to help. Please contact one of our friendly team as soon as possible on 0333 014 3125 (lines are open 9am to 5.30pm Monday to Friday). During the call we’ll listen to your situation and work with you to try and find a suitable solution, before calling you can complete our income and expenditure form. This will show us what borrowing you’ve got, your fixed and variable costs and what money you’ve got left over each month to make towards re-payments and one of the team will go through it with you on the call.

I haven’t lost my job but am going to struggle to make my monthly payment because of the cost of living crisis – can you help me?

We understand the impact that inflation and the cost of living crisis could be having on you, if you’re worried about meeting your mortgage payments now or in the future, we’re here to help. You can contact one of our friendly team on 0333 702 102 (lines are open 9am-6pm Monday to Friday). During the call we’ll listen to your situation and work with you to try and find a suitable solution. We have also setup a dedicated space on our website full of resource to help those customers who need a little extra support.

A good starting point can also be getting on top of your finances, download and complete our Income and Expenditure. This will show you what borrowing you’ve got, your fixed rate and variable costs and what money you’ve got left over each month to make towards repayments.

What is the impact of falling into arrears on my mortgage payments?

A mortgage or a secured loan (where the money is borrowed against your property) is identified by the Citizens Advice Bureau as priority debt. This means there are some potentially serious impacts of falling into arrears, such as:

  • The term (length of the agreement) of your mortgage will not change, this means you will have a higher balance and your payments will increase as a result. For example, on a £40,000 loan with a 6% interest rate and a 180-month remaining term and a £337.54 monthly payment, you would pay an extra £3.41 in interest if paying off an arrears balance of £337.54 in 3 months and an extra £11.38 if paying off the arrears balance in 12 months. While, on a £160,000 loan with a 4% interest rate and a 240-month remaining term and a £969.57 monthly payment, you would pay an extra £6.51 in interest if paying off an arrears balance of £969.57 in 3 months and an extra £21.53 if paying off the arrears balance in 12 months.
  • Lenders have an obligation to report mortgage and secured loan arrears to credit reference agencies, therefore arrears could impact your ability to get borrowing in the future or increase the cost of it
  • The debt is secured against your home or property,  if you are unable to meet your repayments your property could be taken and sold to clear the outstanding debt, although this is always the last resort

We understand the thought of falling into arrears can be a worrying and stressful one, but there is a lot of support out there to help.

If you are worried that you might fall into arrears or if your mortgage is currently in arrears, please contact us as soon as possible. Our friendly team is available on 0333 702 102 (lines are open 9am-6pm Monday to Friday).

During the call, we’ll listen to your situation and work with you to try and find a suitable solution. Alternatively, our existing customer pages are full of great independent resources to help those borrowers worried about the impact of falling into arrears, you can find out more here. 

Is there anyone you could recommend I speak to about my money worries?

You can get free, independent and impartial advice from these organisations:

Will I lose my home if I can’t meet my payments?

Repossession is always the last resort and we have a variety of options available to support you though difficult times. Repossession becomes an option if either we’re unable to agree an alternative solution or releasing you from the financial burden of mortgage payments is the preferred option.
If repossession is unavoidable, we are committed to:
  • sell the property for the best price we can obtain within a reasonable period of time
  • give you reasonable time to remove your possessions from your home.

What happens if my home is repossessed, and the sale does not cover the mortgage outstanding?

Unfortunately, there are times where the sale of your home doesn’t cover the remaining mortgage. In that situation  you will still owe us the amount that is left over. We will contact you as soon as we can to tell you what this is and to work with you to arrange a payment plan. If this debt is not repaid it could affect whether you are able to get credit in the future. If we cannot arrange a suitable plan we may go to court to get out money back.

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Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.

About Pepper Money

Pepper Money is the brand name used globally by all Pepper Group companies to market consumer finance products. In the UK, Pepper Money offers a range of residential, buy to let, and second charge mortgages to borrowers.

Pepper Money is part of the Pepper Group, a diversified, global financial services business, whose senior management team is some of the most experienced in the UK mortgage industry having built a long-lasting reputation for creating innovative, flexible home loan products and services. 

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UK Mortgage Lending Ltd (UKMLL) t/a Pepper Money is authorised and regulated by the Financial Conduct Authority (FCA) under registration number 710410 as a provider of regulated mortgages. The FCA does not regulate our Buy to Let mortgages. UKMLL is a member of the Finance and Leasing Association and follows its Lending Code as a provider of second charge regulated mortgages. Registered Office: 4 Capital Quarter, Tyndall Street, Cardiff, CF10 4BZ. Registered in England and Wales under Company Number 08698121.

Pepper Money Limited t/a Pepper Money is authorised and regulated by the Financial Conduct Authority under Firm Registration Number 811609 as a provider of regulated mortgages. The FCA does not regulate our Buy to Let mortgages. Registered Office: Harman House, 1 George Street, Uxbridge, London UB8 1QQ. Registered in England and Wales under Company Number 11279253. Calls may be monitored or recorded for training, compliance and evidential purposes.

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Intermediary Mortgages

Working on DIP referrals received on:

24th March

Responding to application portal broker messages on:

24th March

Reviewing applications sent to our underwriters on:

24th March

Working on applications received on:

24th March

Currently reviewing valuations received on:

24th March

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