We are aware of scams involving individuals being offered loans for an advanced upfront fee. With the fraudster posing as a representative of a financial services organisation. At Pepper Money we do not charge any fees before the application stage. We would not approach you directly in this way. Your broker will be able to tell you what fees and charges the product you’re applying for has, and when they will be charged. If you think you have been a victim of such a scam, please contact your bank immediately and report it to action fraud.
At Pepper Money, it’s our mission to help you succeed as a landlord
We provide Buy to Let mortgages to landlords, whether you’re looking to grow your property portfolio or remortgage an existing property. We’re able to help you if you’re operating in a personal name or a Limited Company structure. Plus, if you’re a current homeowner looking to start with your first Buy to Let property.
20% Deposit
Buy to Let mortgages available with as little as 20% deposit
Interest Cover Ratio
Interest cover ratio at 125% of pay rate for Limited Company landlords or 125% of pay rate for standard rate taxpayers, 140% for higher rate taxpayers, and 165% for additional rate taxpayers on 5-year fixed products
Raise Capital
Raise capital to consolidate existing debts
No Credit Scoring
Credit scoring isn't used to make lending decisions
Mortgage Broker
Looking to secure a mortgage with Pepper Money
Find an adviser
As we don’t offer mortgages directly, you can find an adviser to help with your requirements here. They will have a chat with you and be able to recommend the best mortgage option for your unique needs, even if that’s not us; we’ll be pleased to have pointed you in the right direction on your journey!
Submit a Decision in Principle
Once you’re happy with your adviser’s lender recommendation of Pepper Money, they’ll go about securing your DIP (Decision in Principle) with us. A DIP is an agreement that we’ll lend you the money required for your mortgage if the information your broker has provided is correct and the valuation of the property is successful.
Place your offer on the property
After you’ve secured a DIP, you’ll be in a much better position to make an offer on the property of choice. Why? A DIP illustrates that you can afford to purchase the property in principle at least. When you’re offering, a DIP helps to demonstrate that you’re serious about completing the purchase and will help you stand out against any other potential buyers who are yet to go through this process.
Pre-Application and Submission to Pepper Money
Once your offer is accepted, your broker will request all of the documents that they need to submit to us. Then, after you’ve shared all of the documents, your adviser will submit your Full Mortgage Application (FMA) to us.
Underwriting and Valuation
We’ll take it from here. Your application will be in our online portal, and our dedicated Case Management team will be reviewing your application. This review will enable us to verify that the information you’ve provided is correct and review all your documents to ensure that you’re able to meet your repayments on the proposed mortgage. Plus, your adviser can also instruct a valuation on the property you want to buy to make sure there are no significant problems.
Formal mortgage offer
Once our team has completed their assessment and they are happy with everything they’ve found, they’ll send you and your adviser a mortgage offer.
Conveyancing
After you’ve accepted your mortgage offer, this is where your solicitors come in, and we move into the conveyancing part of the process. Your solicitor will draw up contracts and organise the legal purchase of the property. At this time, you’ll also need to arrange buildings insurance, ensuring it’s in place from the exchange.
Exchange
You’ve made it. The final part of the process is here. Your solicitor will exchange contracts with the seller’s solicitor. Any deposit you are putting in will be added to the transaction at this stage too.
Completion
Your purchase will officially complete when the money is transferred to the seller on an agreed-upon date. On this date, you’ll get the keys to your new home!
EXISTING CUSTOMER
FAQs
We have the answers we often get asked by potential applicants.
process?
Read our FAQ’s in you’re in the process of applying for a mortgage.
Got a mortgage
with us?
If you have a mortgage with Pepper Money, we have all you need to know.