Pepper enhances second charge lending criteria for self-employed – Mortgage Finance Gazette

Pepper Money has launched enhanced lending criteria for self-employed prospects throughout its second charge mortgage vary.

Self employed prospects will now have entry to the identical charges as employed debtors as much as 95% loan-to-value (LTV).

The new criteria will enable self-employed candidates to make use of their newest 12 months’s earnings for affordability calculations throughout all merchandise.

The lender’s prime and XLTV ranges, the lender will request two years’ proof of earnings and on its Plus vary, it’s going to request only one 12 months.

Pepper Money second charge gross sales director Ryan McGrath says: “Pepper Money has established a powerful fame in offering lending alternatives that stage the taking part in area for the self-employed, and these enhancements will assist to reinforce that fame.

“When it involves second charge mortgages, we’ve got recognised among the challenges confronted by self-employed prospects and improved our criteria to deal with these challenges head-on.”