Our mortgages

Shared Ownership Mortgage Products

We help you help your customers to purchase a share of a new build property whilst renting the remaining share from the Housing Association. By offering Affordable Home Ownership mortgages, we aim to clear a path for those who might have blips on their record or a less than perfect credit score. We’re continuing to do what we’ve always done best, just this time our approach to lending has been extended for your customers with deposits from 5%.

Our product range is structured around your customer’s most recent CCJ or Default. Here’s how your next Shared Ownership application could be better with Pepper

Help your customers with purchasing a share

Max LTV of 75% available

No decisions based on credit scores

Suitable for your customers who may miss credit scoring thresholds

Helping the Self-Employed

One year’s self-employed trading accepted

Variable income accepted

50% of overtime, bonuses and commission accepted to boost affordability

We have no debt-to-income ratio

Unsecured credit never affects product tier

No value limits on CCJs & defaults

No value limit on CCJs and defaults; no need for them to be satisfied

Shared Ownership Mortgage Products Rates & Criteria

Pepper Shared Ownership

Shared Ownership Affordability Calculator

Final Results

5

Applicant One

Applicant Two

Applicant One

Applicant Two

Welcome

Our Shared Ownership Affordability Calculator will help to give you an indication of how much we could lend your client(s). Simply tell us their basic information to get a maximum loan amount or if you know their commitments and expenditure include that to get a more comprehensive result. Either way it's quick and simple to use.

For every calculation we’ll show you the maximum amount your client(s) could borrow on both a 2 and 5 year product. Simply select the tier they fit - for more information about our tiers please view our Shared Ownership Product page.

If you have any questions, pick up the phone and give our sales team a call on 03333 701 101, Option 4, Monday to Friday between 9am and 5.30pm.

We'll use the details you enter on this screen to automatically calculate the loan size required, but please bear in mind this does not take into account any fees. If your client(s) are looking to raise capital or consolidate debts please increase the purchase price for purchases or the loan required value for a remortgage to reflect this. If they don't currently have a mortgage but already own the property and are looking to refinance, please select Remortgage. We allow capital raising for most legal purposes.

We have a maximum loan size of £500,000 for cases up to 95% LSV and 75% LTV on our Shared Ownership range.

Select the tier your client(s) falls under. Our tiers are named after how long since their last CCJ or Default was registered. For example, if the last CCJ or Default was registered over 6 months ago but less than 12 months ago, they'd be suitable for our Pepper 6 tier.

You'll also need to consider mortgage, secured and unsecured arrears when selecting a product tier. So, if you're unsure which product to select, visit our Shared Ownership Products page to find out more.

We'll use the rest of the information to pick the appropriate product details for the calculation.

Income

We need the total income from your client(s) to be more than £18,000.

All income must be annualised.

For information on allowable income please review our Policy on Income document. Please note applications where income is made up primarily of benefits and maintenance are unacceptable.

*Please enter values to the nearest pound

**Please only input 50% of income identified as a bonus payment in this field

***Allowable income includes Child Benefit; Child Tax Credits; Working Tax Credits; Pension Credit; and Pension (War Disablement)

Commitments

For Credit or Store Card and Overdrafts please provide the full outstanding balance. Otherwise, please provide the monthly commitment for each of these categories.

If your client(s) intends to clear these balances before completion you can leave these blank.

*Please enter values to the nearest pound

Expenditure

This is the last screen before we're able to tell you the final result.

Please provide a monthly figure for each of these categories.

*Please enter values to the nearest pound

Pepper 6

For clients who haven't had a CCJ or default in the last 6 months.

CCJs/Defaults

0 in 6 months

Mortgage/Secured Arrears

0 in 6 months (No arrears balance in last 6 months)

Unsecured Arrears

Fixed term - None in the last 6 months

Revolving credit - Missed payments considered

We will ignore 2 individual defaults (per application) up to and including £150 each where these defaults relate to utilities, communications or mail order providers

Pepper 12

For clients who haven't had a CCJ or default in the last 12 months.

CCJs/Defaults

0 in 12 months

Mortgage/Secured Arrears

0 in 12 months (No arrears balance in last 6 months)

Unsecured Arrears

Fixed term - None in the last 6 months

Revolving credit - Missed payments considered

We will ignore 2 individual defaults (per application) up to and including £150 each where these defaults relate to utilities, communications or mail order providers

Pepper 18

For clients who haven't had a CCJ or default in the last 18 months.

CCJs/Defaults

0 in 18 months

Mortgage/Secured Arrears

0 in 18 months (No arrears balance in last 6 months)

Unsecured Arrears

Fixed term - None in the last 6 months

Revolving credit - Missed payments considered

We will ignore 2 individual defaults (per application) up to and including £150 each where these defaults relate to utilities, communications or mail order providers

Pepper 24

For clients who haven't had a CCJ or default in the last 24 months.

CCJs/Defaults

0 in 24 months

Mortgage/Secured Arrears

0 in 24 months (No arrears balance in last 6 months)

Unsecured Arrears

Fixed term - None in the last 6 months

Revolving credit - Missed payments considered

We will ignore 2 individual defaults (per application) up to and including £150 each where these defaults relate to utilities, communications or mail order providers

Pepper 36

For clients who haven't had a CCJ or default in the last 36 months.

CCJs/Defaults

0 in 36 months

Mortgage/Secured Arrears

0 in 36 months (No arrears balance in last 6 months)

Unsecured Arrears

Fixed term - None in the last 6 months

Revolving credit - Missed payments considered

Pepper 48

For clients who haven't had a CCJ or default in the last 48 months.

CCJs/Defaults

0 in 48 months

Mortgage/Secured Arrears

0 in 48 months (No arrears balance in last 6 months)

Unsecured Arrears

Fixed term - None in the last 6 months

Revolving credit - Missed payments considered

Pepper 6 Light

For clients who haven't had a default in the last 6 months.

CCJs

0

Defaults

0 in 6 months

Mortgage/Secured Arrears

0 in 6 months (No arrears balance in last 6 months)

Unsecured Arrears

Fixed term - None in the last 6 months

Revolving credit - Missed payments considered

We will ignore 2 individual defaults (per application) up to and including £150 each where these defaults relate to utilities, communications or mail order providers

Pepper 12 Light

For clients who haven't had a default in the last 12 months.

CCJs

0

Defaults

0 in 12 months

Mortgage/Secured Arrears

0 in 12 months (No arrears balance in last 6 months)

Unsecured Arrears

Fixed term - None in the last 6 months

Revolving credit - Missed payments considered

We will ignore 2 individual defaults (per application) up to and including £150 each where these defaults relate to utilities, communications or mail order providers

Pepper 18 Light

For clients who haven't had a default in the last 18 months.

CCJs

0

Defaults

0 in 18 months

Mortgage/Secured Arrears

0 in 18 months (No arrears balance in last 6 months)

Unsecured Arrears

Fixed term - None in the last 6 months

Revolving credit - Missed payments considered

We will ignore 2 individual defaults (per application) up to and including £150 each where these defaults relate to utilities, communications or mail order providers

Pepper 24 Light

For clients who haven't had a default in the last 24 months.

CCJs

0

Defaults

0 in 24 months

Mortgage/Secured Arrears

0 in 24 months (No arrears balance in last 6 months)

Unsecured Arrears

Fixed term - None in the last 6 months

Revolving credit - Missed payments considered

We will ignore 2 individual defaults (per application) up to and including £150 each where these defaults relate to utilities, communications or mail order providers

Pepper 36 Light

For clients who haven't had a default in the last 36 months.

CCJs

0

Defaults

0 in 36 months

Mortgage/Secured Arrears

0 in 36 months (No arrears balance in last 6 months)

Unsecured Arrears

Fixed term - None in the last 6 months

Revolving credit - Missed payments considered

We will ignore 2 individual defaults (per application) up to and including £150 each where these defaults relate to utilities, communications or mail order providers

Pepper 48 Light

For clients who haven't had a default in the last 48 months.

CCJs

0

Defaults

0 in 48 months

Mortgage/Secured Arrears

0 in 48 months (No arrears balance in last 6 months)

Unsecured Arrears

Fixed term - None in the last 6 months

Revolving credit - Missed payments considered

We will ignore 2 individual defaults (per application) up to and including £150 each where these defaults relate to utilities, communications or mail order providers

Pepper 12 DMP

For clients who are in a Debt Management Plan (DMP) or have satisfied one in the last 12 months.

CCJs/Defaults

0 in 12 months

Mortgage/Secured Arrears

0 in 12 months (No arrears balance in last 6 months)

Unsecured Arrears

Fixed term - None in the last 6 months

Revolving credit - Missed payments considered

Pepper 18 DMP

For clients who are in a Debt Management Plan (DMP) or have satisfied one in the last 12 months.

CCJs/Defaults

0 in 18 months

Mortgage/Secured Arrears

0 in 18 months (No arrears balance in last 6 months)

Unsecured Arrears

Fixed term - None in the last 6 months

Revolving credit - Missed payments considered

Pepper 24 DMP

For clients who are in a Debt Management Plan (DMP) or have satisfied one in the last 12 months.

CCJs/Defaults

0 in 24 months

Mortgage/Secured Arrears

0 in 24 months (No arrears balance in last 6 months)

Unsecured Arrears

Fixed term - None in the last 6 months

Revolving credit - Missed payments considered

Monthly secured and unsecured commitments

To get a quick assessment of the maximum we could lend, enter an estimate of your client's monthly secured and unsecured commitments. Please include the total monthly figure for; mortgage or secured loans, unsecured loans, credit or store cards, overdrafts, school fees, maintenance payments and student loans.

Please only include commitments that will remain after completion i.e. if consolidating debts don’t include them in this section. Also, please ensure for joint applications that you only include joint commitments once. If they don't have any commitments, you can leave this figure blank.

*Please enter values to the nearest pound

Important notice

These results are indicative and are meant to be used as a guide only. Should you wish to submit a DIP, it'll be subject to our full lending criteria, a credit check and an underwriter review which could result in a different value.

Please note by changing the loan amount figure you may change the loan to value. This may change the interest rate charged. If you're going to change any details we strongly recommend you start a new calculation to ensure it is as accurate as possible.

If you'd like to submit this, or any other case, you'll need to have registered with us. it's a quick and simple process and shouldn't take more than 5 minutes.

If you've already registered, please Login and complete our online application form.

Unfortunately, due to your LTV, we do not have a suitable product for you

Initial Results

We’re currently reviewing all applications to ensure the income is sustainable in current market conditions. Based on the information provided please find details below on what your client(s) could borrow with us. These results have used assumptions of expenditure. For a more tailored calculation, please click ‘Continue’ to enter your client(s) outgoings.

Indicative maximum available subject to a DIP
2 Year Fixed: £150,000.00
30 Month Fixed: £175,000.00
5 Year Fixed: £200,000.00
Basic Information
Number of Applicants: Number of Children:
Property value: Purchase price of share:
Required loan amount: Repayment Type:
Term: Years Monthly Rental to Housing Assoc.:
Product:
Income Applicant One Income Applicant Two
Primary Annual Income Primary Annual Income
Secondary Annual Income Secondary Annual Income
Annual Overtime (calculated at 50%) Annual Overtime (calculated at 50%)
Annual Bonus or Commission Annual Bonus or Commission
Car Allowance Car Allowance
Maintenance Income (calculated at 50%) Maintenance Income (calculated at 50%)
Allowable Income Allowable Income
Total Total
Commitments Applicant One Commitments Applicant Two
Secured and Unsecured Commitments Secured and Unsecured Commitments

Important notice

These results are indicative and are meant to be used as a guide only. Should you wish to submit a DIP, it'll be subject to our full lending criteria, a credit check and an underwriter review which could result in a different value.

Please note by changing the loan amount figure you may change the loan to value. This may change the interest rate charged. If you're going to change any details we strongly recommend you start a new calculation to ensure it is as accurate as possible.

If you'd like to submit this, or any other case, you'll need to have registered with us. it's a quick and simple process and shouldn't take more than 5 minutes.

If you've already registered, please Login and complete our online application form.

As we manually underwrite all applications and consider each case on it's merits there may be times where we will lend more or less than the figure stated above. To find out exactly what your client(s) could borrow please submit a DIP.

If you see an N/A within the Maximum Loan Size box this is because we don't currently offer a rate for that Product/LTV

If you have any questions, call our sales team on 03333 701 101 Option 4, Monday to Friday between 9am and 5.30pm.

Final results

We’re currently reviewing all applications to ensure the income is sustainable in current market conditions. Based on the information provided please find details below on what your client(s) could borrow with us.

Indicative maximum available subject to a DIP
2 Year Fixed: £150,000.00
30 Month Fixed: £175,000.00
5 Year Fixed: £200,000.00
Basic Information
Number of Applicants: Number of Children:
Property value: Purchase price of share:
Required loan amount: Repayment Type:
Term: Years Monthly Rental to Housing Assoc.:
Product:
Income Applicant One Income Applicant Two
Primary Annual Income Primary Annual Income
Secondary Annual Income Secondary Annual Income
Annual Overtime (calculated at 50%) Annual Overtime (calculated at 50%)
Annual Bonus or Commission Annual Bonus or Commission
Car Allowance Car Allowance
Maintenance Income (calculated at 50%) Maintenance Income (calculated at 50%)
Allowable Income Allowable Income
Total Total
Commitments Applicant One Commitments Applicant Two
Mortgages or secured loans Mortgages or secured loans
Unsecured loans or hire purchase Unsecured loans or hire purchase
Credit or store cards Credit or store cards
Overdraft arrangements Overdraft arrangements
School fees School fees
Maintenance Maintenance
Student loans Student loans
Other Other
Total Total
Expenditure
Housekeeping
Utilities
Telephone
Council tax
Buildings insurance
Ground rent
Leasehold service charges
Essential travel
Clothing
Personal goods
Household goods
Basic recreation
Total

Important notice

These results are indicative and are meant to be used as a guide only. Should you wish to submit a DIP, it'll be subject to our full lending criteria, a credit check and an underwriter review which could result in a different value.

Please note by changing the loan amount figure you may change the loan to value. This may change the interest rate charged. If you're going to change any details we strongly recommend you start a new calculation to ensure it is as accurate as possible.

If you'd like to submit this, or any other case, you'll need to have registered with us. it's a quick and simple process and shouldn't take more than 5 minutes.

If you've already registered, please Login and complete our online application form.

As we manually underwrite all applications and consider each case on it's merits there may be times where we will lend more or less than the figure stated below. To find out exactly what your client(s) could borrow please submit a DIP.

If you see an N/A within the Maximum Loan Size box this is because we don't currently offer a rate for that Product/LTV

If you have any questions, call our sales team on 03333 701 101 Option 4, Monday to Friday between 9am and 5.30pm.

Fill in your details below and we will email the results to you

V2.1.10

Pepper Shared Ownership Criteria

Our mortgages

Helping you get mortgage ready

What is Shared Ownership?

What's needed to buy a Shared Ownership property?

How long does it take? How can customers be prepared?

Are people with CCJs, defaults or missed payments eligible?

Need help with your mortgage case?

To discuss a case, or find out more about our products, call our experienced team. Ready to submit? Log into the application portal to get started, or register if it’s your first case with Pepper Money.

Resources

Our Shared Ownership Intermediary tool kit has all the information you need

Information

Mortgage Service Levels

Intermediary Mortgages

Working on DIP referrals received on:

28th November

Responding to application portal broker messages on:

28th November

Reviewing applications sent to our underwriters on:

28th November

Working on applications received on:

28th November

Currently reviewing valuations received on:

28th November

Answering calls in less than (average speed):

< 1 Minutes