It partners with broker to resolve boundary dispute for clients with complex income profiles
Specialist lender Pepper Money has completed a £500,000 second charge mortgage in partnership with brokerage Pure Property Finance to help a high-net-worth (HNW) couple resolve a property boundary dispute.
The clients, a couple with two children, required the funds urgently to settle the dispute before the case escalated to court, where costs could have significantly increased. With an existing low fixed-rate mortgage tied to early repayment charges (ERCs), remortgaging was not a viable option for the couple.
After submitting an enquiry via a price comparison website, the couple worked with Mark Hughes (pictured left), sales manager at Pure Property Finance, to secure a solution. Hughes said he opted for Pepper Money due to the lender’s flexibility in assessing complex income profiles and its provision for overpayments without ERCs.
“The challenges in this case were the high loan amount and purpose of the loan, as some lenders wanted the settlement to happen before a decision in principle was granted,” Hughes explained. “Pepper was able to progress the case, with the settlement letter being sent just before the loan moved to offer.”
Ryan McGrath (pictured right), second charge sales director at Pepper Money, highlighted the growing demand for large second charge loans, particularly from clients with complex income structures.
“Complex income doesn’t have to mean a complex application, and we can make even large loans straightforward,” McGrath said. “This case shows what can be achieved when lenders and brokers work together for the benefit of the customer. A big thank you to our BDM and our underwriting team for turning this around quickly, and to Pure Property Finance for his excellent collaboration.”
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. You can also follow us on Facebook, X (formerly Twitter), and LinkedIn.
