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  • FIRST POST
    • Rs2019
    • By Rs2019 24th Mar 19, 7:52 AM
    • 5Posts
    • 0Thanks
    Rs2019
    Pepper UK Mortgages
    • #1
    • 24th Mar 19, 7:52 AM
    Pepper UK Mortgages 24th Mar 19 at 7:52 AM
    Morning All,

    I have never posted on here but always visit to take ‘advice’ and ‘information’.

    I am currently applying to remortgage my property however I have a poor credit rating however my husbands is good. We are going through a specialised broker who have been amazing and very helpful.

    We unfortunately got refused by NatWest after DIP and going to full application and the broker is now trying a more specialised lender of Pepper.

    It is a 5year fixed term mortgage with a higher interest rate however I would have to pay an application fee and valuation fee. After reading reviews on trust pilot etc they don’t seem to have a great reputation. I trust my broker and I will raise my concerns with them etc and see what his experience with them is like etc but wanted to see what you guys think?

    I have provided all documents with the broker so I am hoping we should t have to provide too much more but can imagine there will be a few bits etc. Also does anyone know of the time frame they take etc?

    Thanking you in advance!
Page 1
    • amnblog
    • By amnblog 24th Mar 19, 8:09 AM
    • 11,047 Posts
    • 4,406 Thanks
    amnblog
    • #2
    • 24th Mar 19, 8:09 AM
    • #2
    • 24th Mar 19, 8:09 AM
    This is a common scenario in our market.

    A specialist lender deals with complex cases. They are not going to have many cases that sail through, without complication.

    When borrowers have problems getting a mortgage they get worried and frustrated and that worry and frustration can easily be ‘aired’ online.

    What you have seen if simply a function of the market Pepper work in.
    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
    • By ACG 24th Mar 19, 8:16 AM
    • 18,843 Posts
    • 10,430 Thanks
    ACG
    • #3
    • 24th Mar 19, 8:16 AM
    • #3
    • 24th Mar 19, 8:16 AM
    Did you see this thread?

    They used to be shocking when first starting out. They improved massively but then due to a few staff issues they dipped again last year but are on the up again.

    We have only had one application not proceed to offer with them, but that was not their fault, it was the management company for saying the service charge would be increasing but not being able to say what it will increase to.
    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.
    • Rs2019
    • By Rs2019 24th Mar 19, 10:53 AM
    • 5 Posts
    • 0 Thanks
    Rs2019
    • #4
    • 24th Mar 19, 10:53 AM
    Acg
    • #4
    • 24th Mar 19, 10:53 AM
    Thank you- I’ll have a look at the thread now.

    We have had a DIP - they have also completed a quotation credit check on us.

    In your opinion - are they a decent company to go with for poor credit mortgages? I know it is just based on your opinion, like amnblog states - when a mortgage isn’t as straight forward you seem to be on edge and nervous all the time!
    • ACG
    • By ACG 24th Mar 19, 11:12 AM
    • 18,843 Posts
    • 10,430 Thanks
    ACG
    • #5
    • 24th Mar 19, 11:12 AM
    • #5
    • 24th Mar 19, 11:12 AM
    Most of our business is bad credit, you are right it is not uncommon to be worried.

    If your broker has checked everything then you should be fine. The underwriting process in general is just to check that what you have said is correct and fit criteria in the main.
    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.
    • JasonHand
    • By JasonHand 25th Mar 19, 7:49 AM
    • 176 Posts
    • 73 Thanks
    JasonHand
    • #6
    • 25th Mar 19, 7:49 AM
    • #6
    • 25th Mar 19, 7:49 AM
    Yep to cut a long story short with the pepper thread ACG posted its simply a case of being patient. Don't be alarmed if they ask for bits of information piecemeal, it just seems to be the way they work.

    I'd say the trust pilot reviews are pretty harsh in my opinion.
    • DMT84
    • By DMT84 25th Mar 19, 1:36 PM
    • 1 Posts
    • 0 Thanks
    DMT84
    • #7
    • 25th Mar 19, 1:36 PM
    • #7
    • 25th Mar 19, 1:36 PM
    I have been following the other threads as I put in an application with Pepper and read some horrid reviews elsewhere which almost stopped me applying.
    Got a DIP on the Wednesday, full application submitted on the Friday. Following Monday I was asked for 2 more standard docs which we returned instantly and on the Wednesday was told it will go to offer once valuation complete as everything else was fine, valuation was done 48 hours later and can back all ok.
    I’ve been told today we’ve ticked every box and it will now take 4 days to be signed off (not sure if this is standard or not and it’s a painful 4 day wait!)

    What I would say is my personal experience they’ve been great (so far) and what I read on trustpilot and some other sites couldn’t be further from the truth in terms of timeframes and how they’ve communicated.
    Hope this helps!
    • jasminej
    • By jasminej 17th May 19, 6:19 PM
    • 1 Posts
    • 0 Thanks
    jasminej
    • #8
    • 17th May 19, 6:19 PM
    selling our house
    • #8
    • 17th May 19, 6:19 PM
    Our buyers have been through the process of getting a mortgage with Pepper Mortgages. They were offered a mortgage and then it was withdrawn after assurances from the broker it would be ok . This has dragged on for 3 months. We said we would give them a couple of weeks to get another mortgage offer in principle. Then today the estate agent rang to say that the broker put in a complaint to Pepper. They will now look at it again as the buyers have had a pay rise and this will up their credit rating and they only have to submit a payslip at the end of the month confirming the pay rise. So another 2 weeks dragging on with no guarantees they will get a definite offer. Should we just put the house back on the market? I don't feel confident this will work out well in the end.
    • amnblog
    • By amnblog 17th May 19, 7:34 PM
    • 11,047 Posts
    • 4,406 Thanks
    amnblog
    • #9
    • 17th May 19, 7:34 PM
    • #9
    • 17th May 19, 7:34 PM
    If it helps....

    We would expect Pepper to want to see the first ‘higher’ payslip and bank statement showing salary credited before they will work on higher income.
    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.
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