Our Checklist Items Explained



For each application you submit to Pepper, we'll give you a list of items we'll need. These are a combination of standard and bespoke requirements for your application.

Most of these are standard underwriting items, we try to keep the descriptions of these short. To help you understand these, we've put together this guide to help you know what we need.

This isn't a complete list as our underwriters may need to add additional specific items. We'll aim to add these when the application is reviewed (we may also satisfy some of our standard items if we can obtain evidence from other sources i.e. mortgage history from the credit search).

Applicant 1/2 Bus. Bank Statements

Where an applicant is self-employed, we’ll need the latest full 3 months business bank statements.

 

Applicant 1/2 ID

We’ll always need two forms of identification for all applicants from the table below, at least one of them needs to be from Table 1.

Table 1

Table 2

  • Valid passport
  • Valid photo card driving licence (full or provisional)
  • National Identity Card
  • Firearms certificate or shotgun licence
  • Identity card issued by the Electoral Office for Northern Ireland                                                                                  
  • Valid (old style) full UK driving licence
  • Recent evidence of entitlement to an acceptable state or local authority funded benefit (inc. council tax benefit), tax credit, pension, educational or other grant
  • Instrument of a court appointment
  • Current council tax bill, or statement
  • Non internet generated bank statements, or credit card statements or utility bills                                          

Please ensure that the documents are certified as a true copy of the original and where applicable, a true likeness of the applicant to avoid any delays.

 

Applicant 1/2 Proof of rental payments and AST for current residence

Where the applicant(s) is currently in a rental property, we’ll require evidence of rental payments for the previous 12 months supported by the current Assured Shorthold Tenancy Agreement.

Proof of payments can be provided through bank statements or via a reference from an independent letting or estate agent.

 

Applicant 1/2 Residency

We need to verify proof of residency at the applicant(s) current address.

In the event that we cannot verify proof of residency, we’ll ask for you to provide one of the following (this can’t be something you have already provided for proof of identity):

Utility Bill, Bank Statement, Mortgage Statement, Council Tax Bill, Credit Card Statement or a Benefit Award Letter.

 

Applicant 1/2 Right to Reside

Applicants who are non-UK citizens will need to provide evidence of indefinite leave to remain in the UK.

For EU nationals, the applicant(s) passport will be sufficient. For Non-EU nationals, we’ll need an appropriately stamped passport or a letter from the Home Office.

 

Application Declaration

We’ll produce this for you to have signed by the applicant(s) when you fully submit the application. It will be available in the documents section of the application home page.

 

AST for Security

We’ll ask for this for Buy to Let remortgage applications, this is to assess the current rental status of the property.

BTL Portfolio Schedule

If the applicant has a Buy to Let portfolio, we’ll ask that you complete the Buy to Let Portfolio schedule document.

You can find this as an appendix to the application summary, this will be made available to you when you fully submit the application.

The application summary will be available in the documents section of the application home page.

 

BTL remortgage at current address - Copy of offer for new property

This is something we’ll need for a Let to Buy application where the applicant is mortgaging their existing Residential property onto a Buy to Let mortgage.

The offer that we need relates to the onward purchase of the applicants new residential property.

Capital Raising Reason

If you have told us that that the capital raising reason is “Other” for a remortgage application, we’ll need confirmation from you what the funds are being used for.

The easiest way to do this is by sending us a secure message once you’ve submitted your application.

 

Confirmation of affordability on property to be let

We’ll ask for this when it’s a Let to Buy application (the applicant(s) are keeping their current residential). We’re looking to see that the rental income will cover the mortgage on the property to remain, we’ll need evidence of the achievable rental income; this could be a letter from an estate agent.

 

Copy of consent to let for existing residence

If the applicant(s) is not selling their existing residential property, we’ll need confirmation that the property will be let from the applicants existing mortgage company by letter. This is usually called a “Consent to Let” confirmation, or this may be a copy of a BTL mortgage offer.

DD Mandate

We’ll produce this for you to have signed by the applicant(s) when you fully submit the application. It will be available in the documents section of the application home page.

 

Details of commercial premises adjacent to the security property

If you have indicated the property is above or adjacent to commercial premises, we’ll need confirmation of what this is before we would proceed to valuation.

The easiest way to do this is by sending us a secure message once you’ve submitted your application.

 

DMP Form

If you are applying for one of our Debt Management Plan products, you’ll be asked to provide a DMP Supplementary Information Sheet. This is a breakdown of the creditors covered by the DMP.

 

DMP Reference

A reference from the client(s) DMP provider on headed paper. It will speed up processing if you obtain this before submitting your application.

You’ll need to arrange to have the Debt Management Company provide the information on the second page of the DMP Supplementary Information Sheet, on their own headed paper.

Please remember to send them your client’s consent when doing so.

Explanation for missed payments – revolving credit

If the applicant(s) have had missed payments on revolving credit in the past 12 months we’ll need an explanation how the event came about.

The easiest way to do this is by sending us a secure message once you’ve submitted your application.

Last 3 month’s bank statements for all applicants

We’ll always need the last 3 months current account bank statements for all applicants on Residential applications. This account should be where the applicant is paid and where their day to day expenditure is transacted. If the applicant(s) has more than one current account, please upload all accounts.

Mortgage History

We’ll need evidence of 12 months satisfactory mortgage payments for all of the applicant(s) mortgages.

If the applicant(s) has a BTL portfolio, it will speed up the processing of your application if this is provided before or together with mortgage history.

Proof of Benefit income Applicant 1/2

To see what income proofs we’ll need for your application, please see our Policy on Income.

The quickest solution is to upload any award letter(s).

 

Proof of Deposit

We’ll need details of the source of deposit for all purchase applications, we may ask you for proof.

Where the deposit is from savings, generally, the latest savings statement will be acceptable. If the applicant(s) is a first time buyer, we may ask to see a build-up of funds over a longer period; typically 3 months.

Where the deposit is gifted, we’ll need a gifted deposit letter. This will need to state the amount to be gifted, that the donor will hold no interest in the property; that they will not reside at the property post completion, that the funds are not repayable along with their relationship to the applicant.

 

Proof of income Applicant 1/2 

To see what income proofs we’ll need for your application, please see our Policy on Income.

Reason for remortgage within 6 months of last remortgage

We’ll only consider re-mortgage applications where the applicant(s) has been the registered owner for 6 months.

If the applicant(s) are re-mortgaging within 6 months of their last mortgage of the property, we’ll need an explanation as to why.

The easiest way to do this is by sending us a secure message once you’ve submitted your application.

 

Reducing Self-Employed income – Applicant 1 

If the applicant has declining profit, we’ll require an explanation as to why this has occurred, we’ll typically only need written confirmation from you.

The easiest way to do this is by sending us a secure message once you’ve submitted your application.

If we need further information, we’ll let you know when we review the application. 

 

Repayment Strategies 

If the applicant(s) have decided on an Interest Only product, we’ll want to assess the adequacy of the repayment strategy. 

Where this is the sale of the (or other) property or downsizing, we’ll generally be able to satisfy this without the need from documentation from you.

If the repayment strategy is from an Endowment or ISA, we’ll want to review the agreement or statement to confirm the monthly payment, and pay-out value (we’ll include the monthly payment in affordability).

If you have stated the repayment is to come from the applicant(s) pension, we’ll require evidence of the pension lump sum projection.

Signed Broker Declaration

You’ll only see this if you are submitting as a Packager.

You can find this as an appendix to the application summary, this will be made available to you when you fully submit the application.

The application summary will be available in the documents section of the application home page.

 

Specialist reports required

We’ll tailor these to your needs once we’ve received and assessed the valuation.

Document Certification

If you have uploaded documents that have not been certified; we’ll assess these. However, we’ll ask you to confirm that the document(s) were true copies of the originals and a true likeness of the applicant (if applicable).


The easiest way to do this is by sending us a secure message to confirm.