Home » Landing » Case Study 2

Meet Emma and Will

Emma and Will had been renting their home for the past three years, and were ready to transition into homeownership.

Emma works in sales, where her role allows her to earn monthly commissions that contribute significantly to their household income. Meanwhile, Will balances two jobs to provide for their young family. Due to changes in the BTL market and the tax implications for him, their landlord was looking to make a quick sale as he was struggling to achieve the desired income from the property. The landlord offered to sell to the existing tenants, with a reduction of £50,000 on the purchase price.

How we could help them

With Pepper, they could borrow up to 100% of the discounted purchase price through our concessionary purchase offering.

Emma and Will needed a lender who could take a human approach to underwriting, especially when it came to boosting their income-based affordability.

Our approach to variable income allowed Emma to include 100% of her monthly commission in her financial assessment. We were also able to accept 100% of both sources of Will’s income, including any monthly overtime, resulting in a higher maximum borrowing figure.

The result:
A quick cash injection for the landlord and two very happy customers who remained in the home they’ve lived in, but now able to decorate how they wish as homeowners.

Curious about how we could help to boost your customers’ affordability? Don’t think twice about your first choice for just-off-high-street customers.

BUSINESS DEVELOPMENT

Find your nearest business development manager (BDM)

There’s a range of support available to our intermediaries, including our experienced team of BDMs, and direct access to a Case Owner that helps make lending decisions.

Key Criteria

Criteria that could benefit your first-time buyers

100% Concessionary Purchase available

100% of monthly bonuses, overtime, and commission accepted

Multiple income streams accepted

Service

Supported by:

No painstaking paperwork

Direct access to underwriters

Less time consuming process

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Case study summary

Emma and Will were renting for a few years, but their landlord had been struggling to make the income they need to make their business profitable.

The landlord offered to sell the property at a discount to Emma and Will, which meant that they didn’t need to worry that they’d been unable to raise a deposit while renting.
They both earn complex income so needed a lender who could accept this. Pepper were able to accept 100% of Emma’s commission and Will’s second income, including his overtime.
Self-employed purchase – recent year’s accounts accepted/net profit + partner with benefits accepted