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Getting an offer for a mortgage from Pepper Money!!!!
Homebuyer1973
Posts: 40 Forumite
We applied for a mortgage with Pepper in May as we have some historic adverse credit (older than 48 months). We were looking for 80% LTV. From submitting the application to receiving the offer was 5 and a half weeks. Unfortunately our house purchase and sale fell through. We got ourselves back and track and put in another application 5 weeks ago. Despite us putting a 40% deposit forward, Pepper seem to be putting us through extra scrutiny this time as they are asking for documentation that they didn’t ask for last time. It honestly feels like they they don’t trust us at all. They claim to look at people individually but by asking for documentation after documentation, it seems like a never ending treadmill with no end in sight. 5 weeks in and as far as I know we are no where near a valuation yet. Even our broker cannot fathom their change in approach to us. We stuck with Pepper as our broker felt that because we had received an offer from them before, this time would be quicker! How wrong we all were. Even on their website it talks about how they help people who get turned down at the last minute and how their turn-around in application to offer is quick!!! Is there anyone out there who can offer some perspective please????
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Comments
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I have been accepted for a morgage with pepper - I have a gifted deposit. Pepper have asked the people gifting the money to provide a statement of truth - will this reference Pepper money? I don't want the people gifting the money to know that I am taking out a mortgage for people with less then perfect credit!0
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Yes. Either a form or a letter will be addressed to the lender.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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You could ask them to write the letter and then add To Pepper money after the letter is written?I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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