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.

We’re a UK mortgage lender, backed by a global financial institution. We help people who may have been knocked back by high street lenders or are getting back on their feet financially.

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General questions

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. 

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

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.

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.

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.

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.

For the fullest answer to this question, please read our privacy policy.

This explains:

  • Who we are
  • How and why we collect, use and share your information
  • Your rights regarding your information
  • How to contact us
  • Who to contact if you have a complaint.

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.

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.

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.

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.

Account updates

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.

Request a redemption statement by:

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

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 request your mortgage balance.

You can request a statement by:

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

Money worries

If you’re worried about meeting your mortgage payments now or in future, we’re here to help.

But to help we need you to get in touch, we promise to treat you fairly and listen to your situation. Once you get in touch we can work with you to try to find a suitable solution.

We’ve found that people don’t always consider checking to see if you’re eligible for any state benefits/tax credits or if they have an insurance policy that may help with payments.

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

If we can’t agree a solution

This doesn’t always mean we’ll start court proceedings – we may send a Field Agent to see you to discuss your financial circumstances – repossession is always the last resort.

If repossession is unavoidable, we will:

  • 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.

If selling your home does not raise enough money to pay off the mortgage

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 our money back.

Making a complaint

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

Find a Mortgage Broker

Our products are only available through mortgage advisors. Find a mortgage broker that we recommend today.

Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.

About Pepper Money

Pepper Money is the brand name used globally by all Pepper Group companies to market consumer finance products. In the UK, Pepper Money offers a range of residential, buy to let, and second charge mortgages to borrowers.

Pepper Money is part of the Pepper Group, a diversified, global financial services business, whose senior management team is some of the most experienced in the UK mortgage industry having built a long-lasting reputation for creating innovative, flexible home loan products and services. 

Pepper money

UK Mortgage Lending Ltd (UKMLL) t/a Pepper Money is authorised and regulated by the Financial Conduct Authority (FCA) under registration number 710410 as a provider of regulated mortgages. The FCA does not regulate our Buy to Let mortgages. UKMLL is a member of the Finance and Leasing Association and follows its Lending Code as a provider of second charge regulated mortgages. Registered Office: 4 Capital Quarter, Tyndall Street, Cardiff, CF10 4BZ. Registered in England and Wales under Company Number 08698121.

Pepper Money Limited t/a Pepper Money is authorised and regulated by the Financial Conduct Authority under Firm Registration Number 811609 as a provider of regulated mortgages. The FCA does not regulate our Buy to Let mortgages. Registered Office: Harman House, 1 George Street, Uxbridge, London UB8 1QQ. Registered in England and Wales under Company Number 11279253. Calls may be monitored or recorded for training, compliance and evidential purposes.

Information

First Charge Service Levels

Intermediary - First Charge

Working on DIP referrals received on:

27th May

Responding to application portal broker messages on:

27th May

Reviewing applications sent to our underwriters on:

27th May

Working on applications received on:

27th May

Currently reviewing valuations received on:

27th May

Answering calls in less than (average speed):

< 1 Minutes
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