New mortgage lender announces official launch

The lender is launching a range of residential and buy-to-let products on a pilot basis, which will be available exclusively through intermediaries Brightstar and Mortgage Advice Bureau. They plan to introduce other distributors to their panel in Q1 of this year.

CEO Richard Klemmer said:
 
“In the year since the Australian asset manager and specialist lender the Pepper Group bought the UK mortgage servicing business Oakwood Global Finance, the newly unified company has been the subject of intense industry speculation regarding its ambitions to originate mortgages in the UK.
 
“Our loans are designed for customers who may for a variety of reasons be unable to qualify for a mortgage on the high street. These customers may be buy-to-let investors, first time buyers or those who require a more customised approach to lending than is currently offered in the market."
 

The products include residential loans with rates starting from 3.60% and buy-to-let loans with rates starting from 4.35%. All of Pepper’s residential and buy to let products will offer the applicant multiple repayment options including fixed rate terms of up to 5 years.

Klemmer continued:

“After conducting extensive market research throughout 2014 we are convinced this is the ideal time for us to launch Pepper Homeloans. Market conditions and economic indicators are favourable and it’s clear there is a place in the UK mortgage market for a new specialist lender. The revived securitisation market, the drop in arrears and repossessions, and the intelligence we have gained via Pepper’s vast data from our existing loan servicing portfolios have all given us complete confidence to launch in 2015.
 
“The commencement of lending in the UK is a significant next step in the Pepper Group’s strategy of building a global speciality financial services business, adding to its existing lending operations in Australia, South Korea, Hong Kong and Spain.”
 
Further announcements regarding Pepper Homeloans’ entrance into the mortgage market will be issued in the coming weeks as it moves out of the pilot phase and expands its distribution capabilities.