• Married couple, Gavin and Linda, lived in South West England and had equity in their home
  • They wanted to remortgage their home to help clear their significant unsecured debts
  • However, they were turned down by high street lenders despite having good incomes and a strong payment profile
Case type: Previous financial difficulties    


Married couple, Gavin and Linda, lived in South West England. Their home was valued at £275,000 and they had an outstanding mortgage on their property of just £148,000.

Over the years, the couple had built up a large amount of unsecured credit and were struggling to meet the monthly commitment on these debts. To help pay off these debts, they decided it was time to remortgage their home.

The issues

Being able to secure a remortgage wasn’t as simple as they hoped. They’d encountered unexpected and significant costs, and without savings, had a large amount of unsecured debt across 22 separate credit agreements.

Despite having good incomes and a strong payment profile, they were turned away by high street lenders because of their credit score. James Enos, of Bright Financial Solutions, knew this was a case for a specialist lender.

James Enos of Bright Financial Solutions, says:

“There are many cases of clients who have faced financial difficulties. But this doesn’t necessarily mean they won’t be able to afford mortgage repayments now. Specialist lenders like Pepper Money are able to look at these cases without basing their decision on a credit score.”

The solution

Our underwriters were able to consider Gavin and Linda’s circumstances, including their incomes and payment profile and agreed to a debt consolidation remortgage up to 85% LTV.

This included a sum of £85,000 that was advanced directly to their solicitor, who used the funds to pay off the outstanding unsecured credit balances.

As a result of paying off these balances, Gavin and Linda were able to reduce their commitments by £800 a month.

This was a huge amount of money for the couple and so the debt consolidation remortgage with Pepper Money made a positive impact on their lives.

This case study is based on criteria in effect at the time this case was submitted and reviewed by Pepper Money. We reserve the right to change or amend our criteria at any time. All our stories are based on real cases but the names have been changed.


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