FAQ's

Existing Residential and Buy to Let mortgage customer FAQ's

If you have a mortgage with Pepper Money, here are the answers to some frequently asked questions from our customers. If you can’t find what you’re looking for below or would like to talk to us about your mortgage you can call us on 03333 701 102 (lines are open 9am-6pm, Monday to Friday) or email us at customerservice@pepper.money where one of our friendly team will be able to help. If you choose to email us, we will respond to your message within 5 working days. This will either be via a telephone call or a letter in the post. If your request is urgent please call us

Money worries

We understand the impact that inflation and the cost of living crisis could be having on you, if you’re worried about meeting your mortgage payments now or in the future, we’re here to help, you can contact one of our friendly team on 03333 701 102 (lines are open 9am-6pm, Monday to Friday)  

During the call we’ll listen to your situation and work with you to try and find a suitable solution. 

We have also set up a dedicated space on our website full of resources to help those customers who need a little extra support, you can view that here. 

Complete a budget planner, download our Income and Expenditure form, this will show you what borrowing you’ve got, your fixed and variable costs and what money you’ve got left over each month to make towards repayment.

You could also check to see if you are eligible for any state benefits or tax credits or if you have an insurance policy that could help with meeting payments. 

We understand this can be a stressful situation to be in and we’re here to help. Please contact one of our friendly team as soon as possible on 0333 014 3125 (lines are open 9am to 5.30pm Monday to Friday). During the call we’ll listen to your situation and work with you to try and find a suitable solution, before calling you can complete our income and expenditure form. This will show us what borrowing you’ve got, your fixed and variable costs and what money you’ve got left over each month to make towards re-payments and one of the team will go through it with you on the call.

We understand the impact that inflation and the cost of living crisis could be having on you, if you’re worried about meeting your mortgage payments now or in the future, we’re here to help. You can contact one of our friendly team on 0333 702 102 (lines are open 9am-6pm Monday to Friday). During the call we’ll listen to your situation and work with you to try and find a suitable solution. We have also setup a dedicated space on our website full of resource to help those customers who need a little extra support, you can view that here.

A good starting point can also be getting on top of your finances, download and complete our Income and Expenditure form here. This will show you what borrowing you’ve got, your fixed rate and variable costs and what money you’ve got left over each month to make towards repayments.

You can get free, independent and impartial advice from these organisations:

Repossession is always the last resort and we have a variety of options available to support you though difficult times. Repossession becomes an option if either we’re unable to agree an alternative solution or releasing you from the financial burden of mortgage payments is the preferred option. 

If repossession is unavoidable, we are committed to: 

  • sell the property for the best price we can obtain within a reasonable period of time 
  • give you reasonable time to remove your possessions from your home. 

Unfortunately, there are times where the sale of your home doesn’t cover the remaining mortgage. In that situation  you will still owe us the amount that is left over. 

We will contact you as soon as we can to tell you what this is and to work with you to arrange a payment plan. If this debt is not repaid it could affect whether you are able to get credit in the future. 

If we cannot arrange a suitable plan we may go to court to get out money back. 

Account Information

Please give our Customer Services team a call on  03333 701 102 (lines are open 9am-6pm, Monday to Friday) to request your mortgage balance. 

You can request a statement by: 

Giving our Customer Services team a call on 03333 701 102 (lines are open 9am-6pm, Monday to Friday) 

Sending us an email to customerservice@pepper.money, stating your account number 

All statements will be sent to the correspondence address included on your account 

Where can I get a redemption statement? 

If you’re ready to pay off your mortgage in full, or you’re planning to remortgage with another lender, you’ll need a redemption statement, which covers: 

  • your current mortgage balance 
  • any interest still left to pay 
  • the daily interest rate 
  • any fees detailed in our Tariff of Charges. 

You can request a redemption statement by: 

Giving our Customer Services team a call on 03333 701 102 (lines are open 9am-6pm, Monday to Friday) 

Sending us an email to customerservice@pepper.money, stating your account number 

All statements will be sent to the correspondence address included on your account. 

At the end of your initial product term your rate will change to the reversion rate that was included in your mortgage offer. You’ll also no longer need to pay an Early Redemption Charge if you repay the mortgage after this time. 

We will let you know that you are coming to the end of the initial term by post. 

The reference rate will be either the Lender Managed Rate (LMR) or the Legacy Reference Rate (LRR), depending on when your mortgage was taken out.  Please refer to your Offer document, or contact us on 03333 701 102 if you would like confirmation of this. We may use this as the reference for setting the variable interest rate we switch the mortgage to at the end of the initial product fixed rate period. More information can be found on our  interest rate  page. 

Account updates

Please give our Customer Services team a call on  03333 701 102  (lines are open 9am-6pm, Monday to Friday) to update your contact details. 

Please give our Customer Services team a call on  03333 701 102  (lines are open 9am-6pm, Monday to Friday) to change your Direct Debit details. 

Please give our Customer Services team a call on  03333 701 102  (lines are open 9am-6pm, Monday to Friday) to change your payment date. 

Yes, that is possible. Please give our Customer Services team a call on  03333 701 102  (lines are open 9am-6pm, Monday to Friday) or send us an email to  customerservice@pepper.money. We’ll need to send you a form to complete and return – once we have registered your nominated person we will write to you to confirm it’s all set-up. 

No, it’s not possible to add someone to or remove a person from your mortgage. 

Payments & Fees

To find out about our fees, download our Tariff of Charges here.

Upon completion of your mortgage you were set up to make payments via direct debit. However, if you’re no longer making payments by direct debit and want to make an additional payment or pay a fee, there are a number of ways you can do so:

To pay by debit card, give our Customer Services team a call on 03333 701 102. Our agents are available Monday to Friday between 9am and 6pm, but you can pay through our automated system outside of these hours.

By cheque – please make it payable to Pepper Money, including your account number on the reverse of the cheque and send it to:

Pepper Money Customer Services
Harman House
1 George Street
Uxbridge
UB8 1QQ.

To set up a direct debit, standing order or bank transfer give us a call on 03333 701 102 to confirm the account details.

Yes. During your initial term you can pay up to 10% of the outstanding balance each year without having to pay an Early Redemption Charge (ERC). If you wish to repay more than 10% of the outstanding balance during your initial term you will be subject to an Early Repayment Charge.

You can find details of your ERCs in your mortgage offer, or give our Customer Services team a call on 03333 701 102 (lines are open 9am-6pm, Monday to Friday) if you want to find out if you’ll need to pay this charge.

General questions

Pepper Money offers let-to-buy, which provides customers the flexibility to rent their property rather than sell. Pepper Money can fund the mortgage on the property that is being let out, or the onward purchase, or both.

No, we don’t offer mortgage porting. If you’re looking to move house, speak to an Independent Financial Adviser (IFA) to find out about your options.

Click here to find an independent financial adviser.

Your existing mortgage was either provided by Pepper Money Limited (PML) or UK Mortgage Lending Limited (UKMLL) depending on when this was taken out (please refer to the Offer document).

Any new or replacement mortgage will be provided by UK Mortgage Lending Limited (UKMLL) who are a member of the same group as Pepper Money Limited (PML).

If you’d like to change to a different mortgage with us you’d need to remortgage – this may incur additional costs and we’d suggest that you should speak to an Independent Financial Adviser (IFA) before you do this.

Click here to find an independent financial adviser.

If you’d like to borrow more money as part of your mortgage with Pepper Money you’d need to remortgage – this may incur additional costs and we’d suggest that you should speak to an Independent Financial Adviser (IFA) before you do this.

Alternatively we offer a range of Second Charge mortgages, for more information please visit our Homeowner Loans page  or speak to an Independent Financial Adviser. 

Click here to find an independent financial adviser.

Yes, you can remortgage your property at any time with any lender you choose. If you do this within the initial term (e.g. in the first 2 years of a 2 year fixed term mortgage) then you’ll pay Early Redemption Charges. Most lenders charge these when you pay off a mortgage or change your lender within the initial term.

You can find details of your ERCs in your mortgage offer, or give our Customer Services team a call on 03333 701 102 (lines are open 9am-6pm, Monday to Friday) if you want to find out if you’ll need to pay this charge.

If you’ve been asked to do a financial assessment, please complete the Income and Expenditure form.

Once completed please send it either by email to customerservice@pepper.money or by post to:
Pepper Money Customer Service
Harman House
1 George Street
Uxbridge
UB8 1QQ

We do this because it’s a condition of your mortgage agreement that you have a valid buildings insurance policy in place at all times. We lend you a sum of money, secured against an asset (your property), so we need to know that that asset is protected.

If you don’t have a valid buildings insurance policy, you will be in breach of the conditions of your mortgage agreement with us.

If we can’t confirm that the right cover is in place, we will manage the risk by taking out a “Lender’s Interest Only” policy at your expense. Please note, this insurance only covers our risk: it doesn’t insure you. If you provide us with a copy of a valid insurance schedule in your name we will refund up to a maximum of 24 months’ worth of the premiums we have charged you for this insurance.

If your property is leasehold it may be the freeholder’s responsibility to insure the building. If you’re unable to get a copy of the insurance schedule from the freeholder, you can either send us:

  • A copy of the relevant clause in the lease that confirms it’s freeholder responsibility to insure the building; or
  • A letter from the freeholder confirming that they are required to insure the building. 

Making a complaint

Details of how to make a complaint can be found on our Complaints page.

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