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Original poster

Pepper Money Mortgage

11 replies

mummaxi · 02/08/2023 18:09

Hey

Has anyone had experience getting a mortgage with Pepper Money.

I have received a decision in principle but now it's the application process and I am so nervous!

Would love to know if anyone was scared of rejection and were approved or vice versa. A bit nervous about the bank statements element and being judged on the spending etc.

Also how long the whole process took and did they request extra docs?

Any insight right now would be greatly appreciated!!

Thank you

OP posts:
GhostDecider · 03/08/2023 16:48

If it is peppercorn money

A bank loan may be cheaper instead

tescocreditcard · 03/08/2023 16:52

GhostDecider · 03/08/2023 16:48

If it is peppercorn money

A bank loan may be cheaper instead

What?????

FrazzledMCPremenopausalWoman · 03/08/2023 16:57

I deal with Pepper on a regular basis. If your adviser has sourced a mortgage with Pepper this will have been for a particular reason (or multiple particular reasons) so I'd expect that they've done their groundwork properly. Usually once you have a decision in principle it's just a case of providing documentary evidence to support the disclosures made on the application, and a satisfactory valuation report.

The one thing I would say about them is that they're pretty slow compared to many other lenders, so don't expect a mortgage offer to land in your inbox straight away

NewNovember · 03/08/2023 16:58

why bother with a mortgage then?

FrazzledMCPremenopausalWoman · 03/08/2023 20:03

GhostDecider · 03/08/2023 16:48

If it is peppercorn money

A bank loan may be cheaper instead

Pepper Money are a specialist mortgage lender

Original poster
mummaxi · 03/08/2023 21:53

FrazzledMCPremenopausalWoman · 03/08/2023 16:57

I deal with Pepper on a regular basis. If your adviser has sourced a mortgage with Pepper this will have been for a particular reason (or multiple particular reasons) so I'd expect that they've done their groundwork properly. Usually once you have a decision in principle it's just a case of providing documentary evidence to support the disclosures made on the application, and a satisfactory valuation report.

The one thing I would say about them is that they're pretty slow compared to many other lenders, so don't expect a mortgage offer to land in your inbox straight away

Thank you for this.

Yes I had a short period of bad credit due to being hospitalised last year and am on maternity leave so that's likely why.

So fingers crossed for an approval! When you've worked with them previously have they ever rejected an application? And if so, on what grounds?

Many thanks

OP posts:
FrazzledMCPremenopausalWoman · 03/08/2023 22:11

@mummaxi I tend to find that when applications are rejected by specialist lenders it's usually down to property issues instead of credit history as the AIP will have taken your credit issues into account - as long as the supporting information provided by you to your adviser stacks up with the information on the application form then this side of things should in theory be straightforward.

Original poster
mummaxi · 08/08/2023 15:54

FrazzledMCPremenopausalWoman · 03/08/2023 22:11

@mummaxi I tend to find that when applications are rejected by specialist lenders it's usually down to property issues instead of credit history as the AIP will have taken your credit issues into account - as long as the supporting information provided by you to your adviser stacks up with the information on the application form then this side of things should in theory be straightforward.

Thank you for this.
Have you ever heard of the rejecting based on bank statements?
Also i understand they ask for millions of extra docs, do you find this is the case? And if so what docs should I consider preparing?

Thank you in advance!

OP posts:
tescocreditcard · 08/08/2023 16:04

I've heard of mortgages being withdrawn when they are presented with the bank statements yes.

My mortgage is with pepper, they ask for the same documents as other mortgage companies, certainly not millions of them. The usual ID verification and 3 months work of current account statements.

Bmoo24 · 07/04/2024 23:03

mummaxi · 08/08/2023 15:54

Thank you for this.
Have you ever heard of the rejecting based on bank statements?
Also i understand they ask for millions of extra docs, do you find this is the case? And if so what docs should I consider preparing?

Thank you in advance!

Show quote history

Hey, I’m in the exact same boat currently ! Did you manage to get the mortgage ?

peppertomato · 27/01/2025 03:14

Pepper money provided me with the WORST application experience of my life.
I was referred to them by Tomatoe Morgages who I'd strongly recommend to stay away from.
They dragged the process out for over a month, asking for more and more documents then asking me resend documents I sent a month prior.
Instead requesting everything they required from the start they'd ask for a different document every week and take several business days to get back to me, only to request more.

Steer clear of this company, don't waste your time or effort with them.

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