Please take a few minutes to read this bulletin as it details multiple enhancements, which will enable you to place more cases with Pepper and complete more loans with greater ease and speed.
As always, if you have any questions, don’t hesitate to contact your BDM.
Broader Foreign Nationals Criteria
As a reminder, we already accept applications for non-EU and non-EEA nationals where they have indefinite leave to remain.
We now accept customers with the following Visa’s with at least 12 months remaining:
Tier 1 Entrepreneur.
- Tier 2 Skilled worker.
- Senior or Specialist Worker.
- Health and Care Worker.
- Family i.e. Spouse, dependent, partner, fiancé, proposed civil partner, child, parent, long-term carer.
Improved Bank Statement & Child Maintenance Criteria
We now accept filtered bank statements to evidence Child Maintenance, Mortgage and Rental payments.
We’ve reduced the number of statements we need to 3 months for child maintenance where a written agreement exists (can simply be written agreement between parties) and 6 months where there’s no written agreement.
For self-employed customers where the latest SA302 is more than 12 months old or where we have an Accountant Certificate greater than 12 months old without a projection, we do still need a full statement, but we now only need the latest month. As a reminder, we accept SA302’s or Accountant Certificates for limited company directors.
We continue to require full bank statements where the applicant is using a bank statement as proof of living at the security address.
Clarity of Utility Bill Expenditure
Where we have been provided with a utility bill with a debit balance, previously we divided this amount by 12 and added it to the monthly utility payment as expenditure. As of today, we’ll only do this where the debit balance is greater than 50% of the projected annual utility bill.
Proof of Current Address Extension
As you know, when a customer isn’t on the electoral roll, we require proof of address evidencing that they reside at the security property. We’ll now accept documents dated within the calendar year, previously this was only 3 months.
Packaging Guides
We’re expecting to make more changes next week, so we’ll circulate our updated Broker Packaging Guides then.
Support
We continue to offer super quick turnarounds and certainty of completion.
If you have any questions or would like to discuss how Pepper could help your customers, please contact –
Claire Blunt 07519 750079 (North), Nicola Culshaw 07519 750084 (North), Nicholas East 07498 291038 (South), Ryan McGrath 07354 249284, .Luke Edwards 07542 321177