Pepper Mortgages new application

Hey all

I don't have the cleanest credit ( hence why we are using Pepper mortgages ) we are currently with precise who are excellent

Decided to buy a new house - spending (3.9 times joint income of £107k ) but I have 3 defaults left on my file now from 2014 :-( no CCj and no areears for 24-36 months . Kensington is also an option

We gave a loan that will be be cleared on completion x

Our broker placed us with pepper because the rate was better than the one Precise was offering

About to submit full application with Pepper - who I believe will want a shopping list of documents - but its standard

So far we've been asked for :

X2 years P60
3 months bank statement
3 month payslip
2 years bonus payments ( as I get a annual bonus )
Letter to explain adverse
I.D


Anyone out there faced pepper mortgages before or waiting on a mortgage offer when you have adverse ???

Keen to hear back from anyone ....
«1

Comments

  • amnblog
    amnblog Posts: 12,412
    First Anniversary Name Dropper Photogenic First Post
    Forumite
    All of these Specialist Lenders deal with complex cases so do not expect a swift turnaround.

    Pepper will ask your Broker a lot of questions following application but that is for him/her to manage. You just need to be patient.
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, 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.
  • ACG
    ACG Posts: 23,677
    First Anniversary Name Dropper First Post I've helped Parliament
    Forumite
    We use Pepper a fair amount. I would prefer to use Pepper over Kensington any day of the week. I have never had a good experience with them, where as Pepper they started badly but have been improving.
    I am a Mortgage Adviser
    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.
  • How did it go? We are just submitting our mortgage app today
  • How did it go? We are just submitting our mortgage app today

    Hi, I started a thread as awaiting a formal offer from pepper. The stress of waiting is not good for my menopause that’s all I’ll say.

    Read through. Lots of helpful comments so far.
    You are not alone.

    ACG has helpful insight as a mortgage advisor. Myself and another are waiting on an offer.

    I was last asked (last wed) for proof of rental payments but I’ve heard nothing since. I’ve sent a short note to my broker explaining advaersd as ACG day they will want that.

    Just a waiting game...

    https://forums.moneysavingexpert.com/showthread.php?t=5890008
    Love, through the trees, past the sky, beyond the northern lights; and I won't let go. May your soul and spirt fly sweetheart x

    My alphabet-girls are with me every step of the way x
  • Yep I'm the other person awaiting a decision from Pepper. I was asked for proof of rental payments late Thursday afternoon. A bit like myalphabet girls I've not received anything back as of yet.

    I've just dropped my broker a quick email to see if they received my proof of rental payments and also asked if they may know when Pepper might look at them.

    It would certainly be interesting to know how the OP got on. Judging by the date of the post one would guess they would know by now
  • Hi we’ve just had our mortgage application out through to pepper , as others have said they ask for lots of info , I’m just wondering if many have had successful outcomes with them and what sought of time frame before we are likely to here re an offer and also if we get an offer is it usually guaranteed to go through? Thanks in advance of advice
  • YHM
    YHM Posts: 650 Forumite
    Pepper Money set themselves towards the niche / adverse / quirky side of the fence when it comes to what applications they generally receive. This generally dictates a more manual approach and a slower timescale to offer. I have had cases go to offer in around 3 - 4 weeks from application with them, so expect this time to wait....
    I am a Mortgage Broker.

    You should note that this site doesn't check my status as a Mortgage Broker, 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
  • Happyme7
    Happyme7 Posts: 67 Forumite
    Hi we have just got a dip from Pepper mortgages and are hoping to put the application in this wk. We have put an offer in on a house and its been accepted but im just worried incase we get declined? We have had previous credit issues but have sorted everything out , we have a 15% deposit i noticed they have done a check on my credit file, does anyone know how long we should be looking to wait?
    Thank you
  • Please does anyone if you contact pepper with a letter explaining why you need there help do they listen �� .we got scammed by a mortgage broker he had our fee all our personal info etc police involved. He even set up the solicitors for us and we've now paid for searches ,peppers are on there panel so could be saved if they could rescue us ,else as our house is sold ,were in a chain of 4 ,then we're homeless ,it's soo stressful ,I'm not eating or sleeping
  • Please does anyone if you contact pepper with a letter explaining why you need there help do they listen �� .we got scammed by a mortgage broker he had our fee all our personal info etc police involved. He even set up the solicitors for us and we've now paid for searches ,peppers are on there panel so could be saved if they could rescue us ,else as our house is sold ,were in a chain of 4 ,then we're homeless ,it's soo stressful ,I'm not eating or sleeping


    Sorry to hear about the situation you have found yourself in. Without sounding rude, what do you expect/want Pepper to do?
This discussion has been closed.
Meet your Ambassadors

Categories

  • All Categories
  • 342.5K Banking & Borrowing
  • 249.9K Reduce Debt & Boost Income
  • 449.4K Spending & Discounts
  • 234.6K Work, Benefits & Business
  • 607.1K Mortgages, Homes & Bills
  • 172.8K Life & Family
  • 247.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.8K Discuss & Feedback
  • 15.1K Coronavirus Support Boards