It is part of its commitment to environmental, social, and governance initiatives
Specialist lender Pepper Money has replaced the majority of cheque payments on its second charge mortgage lending with electronic payment methods as part of its commitment to environmental, social, and governance (ESG) initiatives.
Customers can now send payments via bank transfer as part of the lender’s electronic payment method, improving efficiency and security for both the lender and the consumer.
“At Pepper Money, we understand the role that all lenders must play in helping the drive towards a carbon neutral economy,” said Tom Whitney (pictured), head of sales for second charge mortgages at Pepper Money. “As part of this, we are not just investigating ways we can encourage more energy efficient home ownership, but we’re also looking at our own processes to see where we can make improvements.
“By moving from cheque payments to electronic payments, we’re able to provide a service that isn’t just more efficient, but is also more environmentally friendly.”
Last year, Pepper Money sent more than 10,000 cheques to customers on the completion of their second charge mortgages, and the move to electronic payment of funds, according to the lender, could potentially save nearly 300,000 grams of carbon dioxide emissions annually by cutting down on print and postage.
Pepper Money said the initiative, alongside the recent move of Anthony Keeble into the newly created role of director of ESG and sustainability, were the first steps of Pepper Money’s commitment to a long-term strategy to become a net zero business.
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