Specialist loan servicing business Pepper (UK) has launched a range of mortgage products aimed at people unable to borrow because of an event in their credit history.
Under the Pepper Homeloans brand customer applications will be assessed on an individual basis using underwriting, without relying on automated credit scores.
Intermediary partners working with Pepper (UK) currently include Brightstar Financial, Residential Home Loans, Connect Mortgage Club, Platinum Options and 3MC.
The residential products on offer include a non-conforming 4.27 per cent tracker at 75 per cent loan to value and a near prime 3.35 per cent tracker at 75 per cent LTV.
Buy to let products include a non-conforming 4.55 per cent tracker at 70 per cent LTV and a near prime 3.9 per cent tracker at 70 per cent LTV.
Pepper (UK) chief executive Richard Klemmer said: “If you have adverse credit it is very hard to get on the housing ladder or to remortgage, if you have got prior events on your credit profile.
“As we look at the UK, we see a significant demand that has built up (from consumers with adverse credit) through the recession, because a generation of people have come through a difficult economic period.”
