We are aware of scams involving individuals being offered loans for an advanced upfront fee. With the fraudster posing as a representative of a financial services organisation. At Pepper Money we do not charge any fees before the application stage. We would not approach you directly in this way. Your broker will be able to tell you what fees and charges the product you’re applying for has, and when they will be charged. If you think you have been a victim of such a scam, please contact your bank immediately and report it to action fraud.
A homeowner loan from Pepper Money could help you fund home improvement projects such as an extension or a new kitchen to add value to your home. We could offer you a homeowner loan of any amount from £15,000 to £1 million.
Start your homeowner loan application online to see if you’re eligible. At this stage, all we need are a few details about you, your property, and how much you are looking to borrow.
Representative Example: Based on borrowing of £40,000, plus £1095 lender fee, totalling £41,095, over 200 months on a variable product with an initial borrowing rate of 7.3%. There would be 200 monthly instalments of £377.77. Total amount payable £71,249, made up of: Mortgage Amount £40,000, Interest £30,059, Lender fee £1095, Exit Fee £95. Overall cost for comparison purposes 8.0%. Please be advised that any interest rate fluctuations, during the life of the mortgage contract, will affect the total amount repayable.
Our Homeowner Loans have a minimum term of 36 months to a maximum repayment term of 360 months. Our rates are dependent on a customer’s individual circumstance and our Maximum APRC charged during the past 3 years is 16.1%.
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A homeowner loan is a form of borrowing only available to mortgage holders and is secured against your property without affecting your current mortgage.
As the loan is secured, you can typically borrow more with a lower rate than a personal loan, depending on the equity you have in your property. This makes homeowner loans a popular option for funding large home improvement projects.
A quick way to find out what you could borrow with Pepper Money is to take your current property value and subtract your current mortgage balance. Unlike some lenders, we can consider lending 100% of the total equity you have built up against your home.
A Property value of £500,000, with an existing mortgage balance of £120,000, would give a maximum borrowing of £380,000 for home improvements, subject to your circumstances.
Bear in mind that because the loan is secured you risk losing your property if you were unable to maintain your repayments.
We set ourselves extremely high standards when it comes to service, and take a lot of pride in the feedback we receive from our customers.
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.
UK Mortgage Lending Ltd (UKMLL) t/a Pepper Money is authorised and regulated by the Financial Conduct Authority (FCA) under registration number 710410 as a provider of regulated mortgages. The FCA does not regulate our Buy to Let mortgages. UKMLL is a member of the Finance and Leasing Association and follows its Lending Code as a provider of second charge regulated mortgages. Registered Office: 4 Capital Quarter, Tyndall Street, Cardiff, CF10 4BZ. Registered in England and Wales under Company Number 08698121.
Pepper Money Limited t/a Pepper Money is authorised and regulated by the Financial Conduct Authority under Firm Registration Number 811609 as a provider of regulated mortgages. The FCA does not regulate our Buy to Let mortgages. Registered Office: 4 Capital Quarter, Tyndall Street, Cardiff, CF10 4BZ. Registered in England and Wales under Company Number 11279253. Calls may be monitored or recorded for training, compliance and evidential purposes.