New products are ideal for customers who don't meet high street criteria
Specialist lender Pepper Money has expanded its Help to Buy range with the introduction of Help to Buy remortgage products.
The lender’s Help to Buy remortgage products will allow customers to refinance their Help to Buy mortgage from another lender, while also enabling them to pay off some or all of their Help to Buy Equity Loan if they choose to do so.
The range is ideal for customers who do not meet the credit score requirements in the high street for a variety of reasons, like having a thin credit file or having recent missed credit payments.
Pepper’s financially inclusive products support customers who may have had a financial blip in the past, remortgage to Pepper Money, and repay part or the total balance of the Help to Buy equity loan. Customers who repay their total equity loan will be able to choose a mortgage from the lender’s standard residential remortgage range.
Pepper Money launched its range of Help to Buy products in November.
Read more: Pepper Money launches Help to Buy products.
“Help to Buy has proven an incredibly popular way for first-time buyers to take the first step on to the housing ladder. However, options can be limited at the end of the initial five-year period when interest becomes payable on the Help to Buy equity loan,” Paul Adams, sales director at Pepper Money, said.
He explained that Help to Buy remortgage offer an accessible option for those homeowners who used the Help to Buy scheme to refinance and build towards their financial future.
“Brokers and their customers can apply with confidence as all our mortgages are supported by our award-winning, responsive and accessible service, which makes life easier,” Adams added.
