Our mortgages

Help to Buy Mortgage Products

We believe in providing a simpler path to specialist Help to Buy mortgages. We are pleased to be part of the Government’s Help to Buy Equity Loan scheme, which helps buyers purchase their first property with just a 5% deposit. Your customers could borrow up to 40% equity loan of the property value for properties in London, and 20% everywhere else in England and Wales.

Whatever stage your customers are in their Help to Buy journey, Pepper Money could help. Whether they’re taking their first steps on the property ladder and looking to purchase a new build property with Help to Buy, or if they’re looking to get a new fixed rate on their existing property through remortgaging.

Our Help to Buy is suitable for an array of customers, including first-time buyers with no credit history, those who have built up unsecured credit balances or have complex income, including being self-employed, earning a variable income or day-rate contractors.

We don’t use credit scoring to make decisions, and don’t cascade applications once you’ve submitted. Instead, we value the story behind your customer’s numbers through our more human approach to underwriting, where people make decisions about people. Plus, you and your customers are supported by our excellent service standards and turnarounds, so if certainty is what you’re looking for, choose Pepper.

Our product range is structured around your customer’s most recent CCJ, Default or secured missed payment. Here’s how your next Help to Buy application could be better with Pepper.

Help your customers with 5% deposits

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

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

Help to Buy Mortgage Products Rates & Criteria

Pepper Help to Buy

Help To Buy Affordability Calculator

Final Results

5

Applicant One

Applicant Two

Applicant One

Applicant Two

Welcome

Our Help to Buy Mortgages calculator will help to give you an indication of how much we could lend your customer(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 customer(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 Help to Buy 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 5pm.

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 customer(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 have a maximum loan size of £600,000 and a maximum LTV of 75%.

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 Residential 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 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

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

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:
Required loan amount: Repayment Type:
Term: Years Help to Buy Total Loan:
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 (calculated at 50%) Annual Bonus or Commission (calculated at 50%)
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, pick up the phone and give our sales team a call on 03333 701 101 Option 4, Monday to Friday between 9am and 5pm.

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

V2.1.11

Pepper Help to Buy Criteria

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 Help to Buy Intermediary tool kit has all the information you need