Santander's Adams to expand buy-to-let lender

Santander's Adams to expand buy-to-let lender

Pepper Money is seeking to grow its business throughout 2019 as it appointed Paul Adams as sales director.

The former head of intermediary distribution at Santander will be in charge of Pepper's growth strategy, alongside newly appointed distribution head, Clare Jarvis.

Pepper, a provider of residential and buy-to-let mortgages, launched a special edition buy-to-let range last week and has more plans to develop its products and broker support throughout the year.

Last October the lender agreed terms to buy second charge lender Optimum Credit, including a loan book of more than £450m.

It also plans to obtain a banking licence, having started discussions with the Prudential Regulation Authority and the Financial Conduct Authority in September 2018.

Danny Belton, head of lender relationships at L&G Mortgage Club, said: "In such a competitive market, it is important for lenders to have people on board that have good market knowledge, and are well connected and respected by the broker community.

"In both cases, Paul and Clare represent excellent appointments for Pepper Money, demonstrating the lender’s ongoing ambition and commitment to the specialist market.

"There continues to be great opportunity in this market for lenders that are able to meet the evolving needs of customers with a common-sense approach, and this is good news for brokers as it provides them with more solutions for their clients."

Mr Adams added: "It’s great to start the year with a fresh challenge and Pepper Money’s ambitious plans for the future mean that we are well-placed to lead the way in this market and help specialist to become the new mainstream. I look forward to working with Clare and the team to make it happen."