Recent research by Royal London revealed that 77% of people are worried about mortgage expenses, and 89% are concerned about energy bills, which have increased by an average of £441 a year.
A recent Utility Warehouse study found that over one-third of UK adults are earning multiple sources of income to help address their growing outgoings. This figure is expected to grow to nearly half by 2025.
According to our last Specialist Lending Study, in partnership with YouGov, the total number of people with adverse credit in the UK is 7.91 million. 25% of all workers earn variable income. More than three-quarters of workers say that being self-employed makes it more challenging to be approved for a mortgage.
It can be challenging for your customers with second jobs to have all their income factored in when applying for a mortgage. Some lenders may not consider more than one source of income or 100% of the applicant’s income when considering affordability.
We consider all sources of income and income from second jobs is accepted at 100%, making it easier to help more customers achieve the mortgage they require.
At Pepper Money, our underwriting assessment considers all aspects of your customer’s income, including those with complex situations, to help boost affordability.
Why choose us?
- Multiple sources of income: Income from second jobs accepted at 100%.
- We use the latest years figures: No averaging out. Your customers just need to demonstrate income through their latest figures.
- Day Rate Contractors: Accepted subject to being in a contract and able to demonstrate a minimum of 12 months history.
- Zero Hour Contracts: Accepted if a permanent position with 2 years+ at the same employer and stable income levels.
- Boost Affordability: Commission and Bonus income accepted.
We have expanded our product selection to offer customers a wider range of choices. Our latest Residential Limited Edition product range features our largest rate decrease of the year, allowing Recent Recoverers to select from a broad range of options suited to their current financial situation.