Pepper money? Anyone have any experience good or bad please

MattPearce

Hi guys, thought I would add to this, after I took so much relief and benefit from going through this thread before and during the process.

11/21- Application Submitted via Advisor - DIP approved 
11/21 -  questions back and forth, submitted 6 months bank and payslips. Investment accounts too, ( I own a lot of Bitcoin which I used for the deposit) 
12/21 - Some questions around credit card balance etc. 
12/21 - valuation completed 
12/21 - Offer Received 
1/22 - 3/12 - Conveyance process 

competed on the 14th March 

been in the new house for nearly I month! 

ecoco

Reigniting this thread! It’s been a really helpful read.

We’ve currently got an application going through with Pepper.  We’ve provided everything they’ve asked for and our survey was completed on Monday. 

Broker said we should hear something by Wednesday which was yesterday.  He’s now on holiday and the wait is unbearable!

smithhannah1

Did you guys get a application decleration form when submitting for a lender application? 

Bennifer

Hi all, 

Currently waiting for our formal offer. It’s been a bit of a faff with lots of documents requested, affordability being questioned due to my pleasant ex husband not paying his CMS properly.. but we are pretty much finally there after agreeing to clear our car finance to equal out the drop in income with outgoings.. 

Have a couple of questions.. once we have the formal offer is it likely that pepper will request any documents before completion such as bank statements or do another credit check? We will be providing the cleared finance so that’s fine just wondering about anything else as it’s likely we will borrow some money temporarily from parents to get a run around car after ours sells. Not planning on getting any credit but just so I know what to expect and to avoid doing transfers between accounts. 

Also, part of the conditions will be that we repay debt from the sale of my property.. there is enough equity to cover the debt and the deposit however we are a bit concerned as our broker seemed to phrase it that we will need to clear the debt before completion.. I won’t be able to do this as the solicitor will have the money! Is it likely they will actually check on this? We will be repaying it all but we can’t repay it until the funds are returned and cleared and that can’t happen until my house completes, and the deposit and payment for our new house completes.. or will the solicitor be satisfied because there is enough money there to cover it all?

thank you 

user1977

I'm not sure what "repaying debt from the sale of a property" could mean other than using the sale proceeds to pay the debt - which obviously can't happen until after completion. I don't see anything to worry about.