Pepper mortgages

TrippleATeam

Has anyone any experience with taking out a mortgage with Pepper? We have had a hard search done on our credit files on the day of application and are waiting on an offer hopefully today. We have had a security call etc and are now just patiently(or not so!) waiting! 

My question is, are they likely to do another credit check either before our official offer or again after then? We aren’t planning on taking out any extra financial commitments or anything like that, but it just makes me nervous and I’m constantly checking my credit reports or fretting over spending etc. I don’t really want numerous pulls on my credit files either. And insight would be helpful 🙂

ACG

They might do another credit check, but if you have not missed any payments/taken out any new commitments it will be fine. They do not credit score, so it wont matter. 

But it sounds like it will just be a formality at this stage.

TrippleATeam

ACG said:

They might do another credit check, but if you have not missed any payments/taken out any new commitments it will be fine. They do not credit score, so it wont matter. 

But it sounds like it will just be a formality at this stage.

Thank you for your response 🙂

Do they tend to do the second credit check before the offer or at a later stage do you know ? As I said they have already done a hard search at application 

ACG

I used to use pepper a lot, not so much recently as their rates have been off but I have never been made aware of them doing a second. 

But I would not worry even if they do. If your circumstances are the same, they will not pull your offer. They are not interested in your credit score or anything like that. 

TrippleATeam

ACG said:

I used to use pepper a lot, not so much recently as their rates have been off but I have never been made aware of them doing a second. 

But I would not worry even if they do. If your circumstances are the same, they will not pull your offer. They are not interested in your credit score or anything like that. 

Thank you for that. I’ve found your comments really helpful on here so thank you! I’m a complete worrier and over thinker plus it’s been a long road to get here so just want everything to go well! Yes their rates are high but for the time being it’s been a necessity for us to go with pepper. I have a couple of defaults which are about to drop off this year thankfully. 

ACG

Its fine, most of my customers have bad credit. I am used to having people have  little wobbles and need the reassurance. 

I dont think they have ever declined one of our applications. I find they are reliable. 

TrippleATeam

ACG said:

Its fine, most of my customers have bad credit. I am used to having people have  little wobbles and need the reassurance. 

I dont think they have ever declined one of our applications. I find they are reliable. 

Our mortgage offer came through today 🎉!!

Think I will still stress that they will do another credit pull again though before exchange or completion 🙃. Just need those keys in my hand now!! 

Kingcharles4

Hi, I just wondered what rate you got with Pepper in the end? And did you go to them because of your credit history?

TrippleATeam

Kingcharles4 said:

Hi, I just wondered what rate you got with Pepper in the end? And did you go to them because of your credit history?

Hi! 

Yes it was because of my credit history, I’ve a few defaults which are quite old now but also a couple of missed payments. I don’t have a lot of debt though and my partner has good credit. The rate was 6.76 (I think !). Not ideal but to be honest, our mortgage even with that rate is still only a small amount more than what we have been paying in rent. So for us it was ok. 

Beme11

Hi sorry to pop on your post just wondering how you got on have you completed yet? We have just started the process with pepper and they have book a valuation at the property for money. We are on pins waiting haha did they do another check? It seems to be moving pretty quickly how long from your mortgage offer was completion if you don’t mind me asking xx