Specialist Lending Study

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Specialist
Lending Study 2025/26

We’re pleased to present our ninth Pepper Money Specialist Lending Study. It’s packed with fascinating insights into the evolving financial landscape across generations, from aspirations and barriers to homeownership, to the nation’s financial knowledge and confidence as well as the levels of financial stress many households are experiencing today.

This year, we partnered with an accredited external research agency and surveyed over 4,000 UK adults to gain a detailed picture of how people across the UK are thinking and feeling about their financial futures, while highlighting opportunities for the industry.

Throughout, we’ve noticed one clear takeaway, the important role that brokers and specialist lenders play in helping the nation navigate an increasingly complex lending environment.

We trust you will find the findings both thought-provoking and practical, empowering you to join our quest to help more people achieve their homeownership goals. You can read the report by topic below, or download the full report.

We hope you find the insights valuable.

Laurence Morey

CEO, Pepper Money

KEY FINDINGS

Homeownership aspirations

The study highlights that aspirations to own a home remain deeply embedded in the British psyche, with more than eight in ten (85%) of Gen Zs hoping to own at some point in their lives.

However, lower rates of aspiration to own amongst older generations suggest that many have given up on the dream, perhaps because they consider it completely out of reach.

Volume of UK adults expecting to be
in a financial position

Savings and deposits

Almost seven in ten (68%) of potential buyers expect to put down more than 10% deposit or do not know. Highlighting the opportunity for consumer educations of the variety of low LTV products available on the market.

million

Financial stress

8.4m days taken off work due to financial stress costing the UK economy an estimated £860m

Adverse credit

0 m

9.26 million people (17%) have experienced adverse credit in the last 3 years, based on the ONS projection for the UK adult population. This is the highest level since we launched our study.

Consumer income

UK adults have taken on a side hustle due to financial stress and one in twenty have taken on additional employment to manage rising costs.

million

The role of brokers

0 %

Less than half of potential homebuyers with adverse credit say they would speak to a mortgage broker for advice on getting a mortgage.

“By taking a more personalised and holistic approach, lenders like Pepper who sit just off the high street are working in partnership with brokers to unlock opportunities for people who might otherwise be excluded from the market. These solutions help households navigate complex financial realities, maintain resilience and ultimately pursue their financial ambitions.

As brokers continue to connect borrowers with specialist lenders like Pepper, the opportunity today to deliver better outcomes for consumers – and support the broader mortgage market – has never been greater.”

Richard Spinks

 Chief Commercial Officer, Pepper Money