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There is no maximum value of CCJs and Defaults. Please see the current Product Guide.
Fixed term credit agreements and loans:
Applicant(s) must have paid the last 12 months payments.
Revolving credit, mobile phones and utility bills:
Arrears in the last 12 months will be considered.
|Bankruptcy||Discharged > 6 years ago.|
|IVA||Discharged > 6 years ago|
|Repossession||None in the last 6 years.|
None current and none in the last 12 months
Applicants who are non-UK citizens must have been permanently resident in the UK for the past three years and must have indefinite leave to remain in the UK and be a UK tax payer.
Applicants residing in the Isle of Man and Channel Islands are not acceptable.
|Diplomatic Immunity||Not accepted|
Minimum of 6 months in current job and not in probation.
Evidence of employment history is required to cover the last 12 months.
Applications will be accepted for contract workers, provided they have been in employment with the same employer for the last 12 months. Confirmation must also be provided that the contract will be ongoing and renewed.
Directors with a shareholding of more than 25% will also be classified as self employed.
|Self Employed||The applicant(s) must have been in their current business for a minimum of 12 months.|
Minimum income is £18,000 per application (no foreign currency).
Min income is £18,000 per application (no foreign currency).
For Sole Trader/Partnerships:
SA302s - as long as they are supported by the 3 months current and business bank account statements.
For Company Director:
Maximum £1 million.
Minimum 5 years.
Maximum 35 years.
|Portfolio Size||The maximum portfolio of BTL or residential loans per applicant(s) held at any one time with Pepper, is limited to a maximum of 3. This is per individual and will include any joint or limited company loans held that the applicants are party to.|
|Remortgage Applicants||We will consider remortgage applications where the applicant has been the registered owner for the last 6 months.|
Capital & interest.
Evidence of Deposit
Evidence of the source of deposit for all cases.
|Minimum Property Value||£70,000|
|Locations||England & Wales|
|Tenancy Agreement||Properties in England and Wales must be let under a single assured shorthold tenancy or a common law tenancy (i.e. a company let or where the annual rent is greater than £100,000). Rental guarantee schemes and student lets are not acceptable. The standard length for assured short-hold tenancies is 6 – 12 months.|
Houses, private and ex local authority or social housing.
Flats, private only.
Flats & Maisonettes
|Leasehold||The lease must have a minimum unexpired term of 85 years at the time of application.|
|Purchase Price / Estimated Value||Valuation Fee Inclusive of VAT|
|Less than £100,000||£320|
|£100,001 - £150,000||£350|
|£150,001 - £200,000||£400|
|£200,001 - £250,000||£450|
|£250,001 - £300,000||£480|
|£300,001 - £350,000||£500|
|£350,001 - £400,000||£550|
|£400,001 - £500,000||£575|
|£500,001 - £600,000||£600|
|£600,001 - £700,000||£700|
|£700,001 - £800,000||£750|
|£800,001 - £900,000||£800|
|£900,001 - £1 million||£850|
|More than £1 million||By arrangement|