Zinga partners with Pepper to help self-employed adverse client

Published on

Zinga Financial Services has completed a hard to place case for an Almost Primer with Pepper Money, helping a self-employed customer with minor adverse to purchase a new home.

The broker was working with a couple, one of whom was self-employed and wanted to borrow 85% LTV to purchase a property in London. However, the self-employed applicant had a small financial blip due to missed payment over four years ago following a change of address, so their circumstances weren’t straightforward.

In addition, the recruitment business owned by the self-employed applicant had been severely impacted by Covid and while the last year’s profit was good, the previous year had shown a loss. As a result, the application had been rejected by high street lenders.

However, Pepper Money was both able to lend to self-employed customers based on their latest year’s accounts and consider adverse credit. Pepper was able to offer the customer a two-year fixed rate mortgage at the LTV they required.

Manooch Suree from Zinga Financial Services, said: “Our customer was self-employed and the business had suffered during Covid. A historic financial mishap also made the case more difficult to place, but Pepper Money was able to base affordability on the most recent year’s accounts and accept the customers with less than perfect credit history.

“They took a logical, customer centric approach and worked at speed to get the deal done. The underwriter on the case was very helpful and always called us following an email to explain the requirements and why they were being asked.”

Ryan Brailsford (pictured), director of business development at Pepper Money, added: “Covid impacted many businesses and, with some lenders, a drop in income over the last three years can make it difficult to get a mortgage. But at Pepper Money, we can base affordability on the latest year’s accounts for self-employed customers and, with our considered approach to adverse credit, we were able to help these Almost Primers into their new home.

“We worked in collaboration with Manooch and the team at Zinga Financial Services to make sure an offer was issued quickly, and the case completed smoothly. When it comes to customers who don’t fit high street criteria, Pepper Money should be a broker’s first call.”

Latest POLL

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Berkeley Alexander appoints new BDM

General insurance provider Berkeley Alexander has announced the appointment of Grant Robinson as a...

Newcastle for Intermediaries adds three-year fix range to mortgage offering

Newcastle for Intermediaries has introduced a new range of three-year fixed rate products. It said...

Mortgage product availability surpasses 25,000 for the first time

The number of mortgage products available in the UK has reached an all-time high,...

ASG Finance launches loan for HNW investors

ASG Finance has introduced its latest funding initiative: the ‘Base Rate Beater’ secured investment...

Other news

Why it matters that bridging hit more than £10bn last year

We see many numbers bandied around in the financial industry, which can sometimes have...

Berkeley Alexander appoints new BDM

General insurance provider Berkeley Alexander has announced the appointment of Grant Robinson as a...

Newcastle for Intermediaries adds three-year fix range to mortgage offering

Newcastle for Intermediaries has introduced a new range of three-year fixed rate products. It said...