Mortgage lender Pepper Money has announced that it will be making its range of shared ownership products available to all advisors, following the success of the pilot launched last year.
The lender began piloting these products on a limited basis during the autumn of 2021, as part of plans for providing loans to make owning a home more affordable for buyers. The loans are available via the product tiers 36 and 24 and have a maximum loan-to-value (LTV) of 75%. The decision to make them available on a wider basis comes in the wake of Pepper Money introducing its scheme Help to Buy.
Talking to Mortgage Introducer, the lender’s Director of Sales, Paul Adams, stated that the main focus of the company was on making sure that it offered products to meet the needs of clients with a wide range of different circumstances. He then went on to say:
“In line with this, we have been working hard on developing a dedicated proposition to provide competitive specialist lending to customers looking to access the property market through affordable home ownership schemes.”
Adams then said that the company had been improving its application processing during the pilot to make sure it was able to cope with the added demand without sacrificing its standards of service.
Anyone who has had the benefit of a CeMAP mortgage advisor course will be conscious of the problems facing those hoping to buy a home and shared ownership mortgages supported by housing associations are a way to make this more affordable.