Home » Case Study 1

Meet Peter & James

After living with their parents for a few years, Peter and James were ready to take the step of purchasing their first home.

The last few years had been financially challenging for the couple as they navigated various obstacles, including unexpected expenses, which made saving for a home a daunting task.
Previous unsecured credit balances and missed payments resulted in a credit score fail, and subsequent rejection by a high street lender when they came to applying for a mortgage. However, they’ then discovered a shared ownership property that seemed perfect for them.

How we helped them

The couple needed a lender who could view the whole picture, looking beyond their credit score

In their search for financing, they found a broker who recommended Pepper as their best option, given that they didn’t meet the conventional credit scoring thresholds of the high street. We don’t credit score and have no debt-to-income ratio, which meant we were able to ignore the unsecured missed payments, and their existing unsecured credit balances didn’t cause a fail due to their current debt to income ratio. With Pepper, unsecured credit never affects the product tier, so Peter and James fitted straight onto a Pepper 48 Light product at Pepper’s cheapest rate, helping them to get their desired mortgage without paying a higher monthly payment. Do you have first-time buyers who are just-off-high-street that need a human approach to underwriting? Don’t think twice about your first choice for just-off-high-street customers.

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Key Criteria

The couple needed a lender who could view the whole picture, looking beyond their credit score

We don’t credit score

Unsecured credit never affects the product tier

No debt-to-income ratio

Service

Supported by:

No painstaking paperwork

Direct access to underwriters

Less time consuming process

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Case study summary

The couple needed a lender who could view the whole picture, looking beyond their credit score

Peter and James failed credit scoring thresholds with the high street due to unsecured credit balances and missed payments
Pepper Money don’t use credit scores to make lending decisions, so they were able to see the story behind the numbers to accept their application.
They fit straight onto a Pepper 48 Light product at Pepper’s cheapest rate, helping them to get their desired mortgage without paying a higher monthly payment.
Recent adverse remortgage – debt consolidation to raise capital to clear unsecured debts.
Concessionary purchase – 100% of variable income & term up to 40 years – purchasing from landlord.