More competition as country’s newest mortgage lender begins selling best-buy home loans direct to consumers
New retail brand Pepper Money unveiled, heralding company’s broader market ambitions and imminent entry into additional consumer finance products
Ireland’s newest mortgage lender, Pepper, is to begin selling mortgages directly to Irish customers following today’s launch of a direct-to-consumer platform and a new retail consumer brand, “Pepper Money”, both of which will support the roll-out of additional loan products in coming months.
From today, consumers have the option of applying for a mortgage directly with Pepper Money at a time and place that suits them; via the company website www.peppermoney.ie or by calling the Pepper Money lending team in Shannon on 1890 88 22 89. Customers can also still submit an application through Pepper’s panel of approved mortgage brokers.
Pepper Money is the new consumer-facing brand launched globally by Pepper Group to better reflect the wide range of consumer finance products it provides– including mortgages, personal and car loans, equipment finance and credit cards – some of which will be introduced to the Irish market imminently.
Speaking about the development Paul Doddrell, CEO Pepper Ireland said the move was a reflection of the success of its mortgage launch in the Irish market, particularly for groups of consumers with otherwise limited options.
“Our competitively priced products and more individual approach to dealing with customers has gone down well since our initial entry into mortgage lending in January. Our products are intended to target a broader and more diverse range of customers so we tailor our loans based on people’s needs; for example, our Advantage mortgage is really unique and fit-for-purpose in this market because it gives people with a legacy credit event an option they probably won’t find elsewhere.
Last July Pepper Money announced a rate reduction across its existing three mortgage products for residential and buy to let – Pepper Essential, Pepper Essential Plus and Pepper Advantage - with rates starting from as low as 3.1%
“Our mortgages are among the most competitive in the country and we believe our dedicated consumer sales channel will bring even more choice to the market. In addition, the new Pepper Money brand will support our ambition to expand our finance products into areas such as auto and personal loans, as we look to grow the business.”
Barry Delaney, Head of Sales & Marketing for Pepper Money said that the lending team will personally review each and every application and that customers won’t be kept waiting longer than 24 hours for approval in principle.
“Apart from our tailored products, our approach to dealing with customers is also very different. We understand every person’s financial circumstances are different so we are committed to taking time to look at the person and not just the paperwork. Our starting point is to consider all the reasons why customers should get mortgage approval, not why they shouldn’t.”
As part of the second phase of the direct-to-consumer rollout, Pepper will be offering a comprehensive option for customers wishing to complete the entire application process online, including uploading documentation via a secure portal and the ability to track the application through the various stages.
Pepper Money, part of Pepper Ireland, is Pepper Group’s recently launched retail consumer brand. Pepper Group is a diversified global financial services business listed on the Australian Securities Exchange (ASX:PEP). Pepper Group has offices across Australasia, Asia and Europe, with over 600,000 customers worldwide and $52.2 (€36) billion in assets under management as at 30 September 2016 – comprising $6.8 (€4.7) billion in lending assets and a servicing portfolio of $45.3 (€32.3) billion. Pepper Ireland is regulated by the Central Bank of Ireland.
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