Debt Management Plan Range

Pepper Money recently launched a Debt Management Plan mortgage range for individuals who are in an arrangement with a licensed debt management company.

The range, consisting of a number of 2-year fixed rates starting from 3.78%, is available for residential purchases or remortgages up to 85% LTV.

Debt Management Plans must have been in existence and satisfactorily conducted for at least 12 months and affordability will be calculated based on the original contractual loan repayments rather than the agreed monthly arrangement.

Pepper 24 DMP

  • 2-Year Fixed Rate up to 75% LTV at 3.78%
  • 2-Year Fixed Rate up to 80% LTV at 3.98%
  • 2-Year Fixed Rate up to 85% LTV at 4.28%

Pepper 18 DMP

  • 2-Year Fixed Rate up to 75% LTV at 4.08%
  • 2-Year Fixed Rate up to 80% LTV at 4.58%
  • 2-Year Fixed Rate up to 85% LTV at 4.98%

Pepper 12 DMP

  • 2-Year Fixed Rate up to 70% LTV at 4.48%
  • 2-Year Fixed Rate up to 75% LTV at 4.98%

The new Debt Management Plan range is available in addition to Pepper’s existing core products, which are suitable for individuals who have had a CCJ or Default as recently as 7 months ago.

Rob Barnard, Sales Director of Pepper Money, said: “At Pepper, we believe that a customer who has maintained a Debt Management Plan for at least 12 months has demonstrated determination to rehabilitate their finances and a track record that indicates they are back on track from an affordability perspective.

“Our new range gives individuals who are in a performing arrangement with a licensed debt management company the opportunity to access competitively priced mortgage lending for home purchase or remortgage.

“Placing a case for a client in a Debt Management Plan can be an interesting challenge. Our message to brokers is, speak to Pepper – we’re interested.”

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