Pepper Increase the Lender Base Rate to 4.95% from August 1st

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Pepper Money LogoPepper will be increasing the Lender Base Rate to 4.95% with effect from August 1st 2023.

How does this affect Sales I have made or will make?

 If your customer has already received a Mortgage Offer from us, then you need do nothing. Where applicable, we will write to the applicants advising them of the pending Lender Base Rate change.

  1. If you have produced a Mortgage Illustration (ESIS) on our system from 25thJuly then you need do nothing, the ESIS will have the correct Lender Base Rate
  2. If you have produced a Mortgage Illustration (ESIS) on a VARIABLE or DISCOUNTED product prior to July 25th and an offer has not been produced by July 31st,  you will need to do the following on August 1st;
  • Go to the quote screen in our SWAN system and REQUOTE;
  • Then SELECT your product;
  • For cases already sent to Pepper, e-mail your newly selected ESIS to 2ndcharge.pending@pepper.money quoting the application number in the subject line, as well as sending the new ESIS to your applicants.
  • For cases that you have not sent to Pepper you will need to send the ESIS directly to your applicants.

3. If you have made any sales or produced a quote since 25thJuly, you do not need to do anything and can follow your normal sales process.

If you have any questions at all please feel free to contact Ryan Mcgrath (07354 249284), Matthew Batte (07498 291038), Anthony Fisher (07872 653666) or myself