Pepper updates second charge lending criteria for self-employed – Mortgage Strategy

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

Self employed clients 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 revenue for affordability calculations throughout all merchandise.

For Pepper Money’s Prime and XLTV ranges, the lender will request two years’ proof of revenue and on its Plus vary, it should request only one 12 months.

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

“When it involves second charge mortgages, we have now recognised a few of the challenges confronted by self-employed clients and improved our criteria to handle these challenges head-on.”