Pepper (UK) Limited has been assigned an ‘above average’ ranking by Standard & Poor’s, as both a primary and special servicer of residential mortgages in the UK, replacing ratings by Fitch dating back to 2009.

The outlook on the primary residential ranking is positive, while the outlook on the special residential ranking is stable.

The company has also been assigned an ‘average’ ranking as a primary and special servicer of commercial mortgages in the UK, with a ‘stable’ outlook, which the lender believes is a “significant achievement” given the commercial loans servicing division was only established in the UK in September 2014.

Richard Klemmer (pictured), CEO of Pepper UK, said: “We’re delighted to have been assigned these rankings by Standard & Poor’s.

“Over the past few years we have experienced very significant growth and diversification, with our overall portfolio of assets under management (AUM) growing to over £11.5 billion, from £4.2 billion at the end of 2014. We’ve also seen staff numbers increase by nearly 100% over the same period. These ratings further demonstrate how far we’ve come as a company.”