Pepper Homeloans is to rebrand as Pepper Money and launch an online portal for mortgage brokers.
All of the specialist lender’s consumer finance products, including mortgages, will be marketed under the Pepper Money brand following the name change, which marks the final stage of a global rebranding exercise.
The portal will make it easier for brokers to submit and track their clients’ mortgage applications online.
Rob Barnard, director of sales at Pepper Homeloans, said: “We will be providing brokers with full details in the near future, so watch this space. I can guarantee, however, that some things won’t change, such as the way in which our skilled underwriters individually assess every application rather than relying on remote credit scoring systems.
“It’s an exciting time for Pepper and I believe these changes provide a solid basis for our future growth.”
Pepper Group was launched in Australia in 2001 and services a wide range of assets, including residential home loans, commercial loans, equipment finance and consumer finance.
In 2016, the group’s adjusted net profit after tax climbed to $61.0m (£45.3m) – a 26 per cent rise on the previous year’s figure.
Pepper Homeloans, which launched in the UK in 2015, caters for underserved sections of the market, including the recently self-employed, those with credit blips, complex income, young credit history, or previous financial difficulties.
Tony Salentino, director at Southampton-based Complete FS, commented: “Pepper have a lot of experience behind them, and that experience over many years means they can draw on all the good things they have brought from the other lenders the senior management team have worked with.
“They have come out with a diverse product proposition geared towards the specialist arena, with extremely aggressive and attractive rates. At the moment, they are flying.”
Mr Salentino that technology will play a big part in how the industry develops and said brokers would welcome the portal, as it will allow them to get updates when they are working out of hours and keep clients informed when they meet them in the evenings.
simon.allin@ft.com
