The new funding will support its lending growth plans for first and second charge mortgages
Specialist lender Pepper Money has secured new warehouse facilities worth more than £1.2 billion to support its lending growth plans for first and second charge mortgages.
Three new funding lines for first charge mortgages have been agreed with Deutsche Bank, Lloyds Bank, and MUFG, while a new agreement with Santander has been made to fund its second charge mortgage lending.
The new arrangements bring Pepper Money’s total warehouse capacity to over £2.8 billion, providing a strong funding pipeline and increased capacity to support its growth aspirations and intermediary partners into 2024 and beyond.
“We are very pleased to confirm these new funding arrangements, which represents over 12 months of originations,” said Andrew Voss, chief financial officer at Pepper Money. “With the recent market volatility, it’s important Pepper Money has this additional capacity to provide a stable funding base and continuing originating through market cycles.”
Voss (pictured) added, “With the current challenging conditions, we recognise that intermediaries are looking for lenders who will continue to lend and support their clients. With this new funding, Pepper continues to be that lender.”
Want to be regularly updated with mortgage news and features? Get exclusive interviews, breaking news, and industry events in your inbox – subscribe to our FREE daily newsletter.
