Pepper updates its online mortgage selector tool

PPS is an online lending tool that allows advisers to swiftly give customers an indicative offer. Simply by answering a handful of questions about the customer’s situation the tool returns a product match, indicative interest rate and associated fees.

Following feedback from early adopter advisers, Pepper Money has now added the ability to calculate the customer’s borrowing power before returning an indicative offer tailored to the customer’s circumstances, leading to the creation of PPS 2.0.

Pepper Money national sales manager, Michelle Sargeant, says “Each customer’s needs are different and specific to their personal circumstances. With the addition of a borrowing calculator, Pepper Money aims to make it
easier for advisers, by providing the information they need, when they need it and in a simple online format which is most useful to them.” 

The tool takes the guess work out of finding the most appropriate Pepper product for an adviser’s customers, especially for difficult scenarios.
PPS was built around returning a quick decision for an adviser, so now, in less than 5 minutes an adviser can:

• Calculate the customer’s indicative borrowing power upfront
• Check the customer’s credit history – with no impact to their credit score
• Have an indicative offer for a Pepper Money loan solution – with the product, rate, fees and repayment amount outlined.

PPS can be used for any customer situation. However, it can be particularly useful where their circumstances will not typically fit the banks criteria and are searching for an alternative solution.

The customer’s borrowing power and credit score combined with proprietary information collated over Pepper’s 20 years in global residential lending allows PPS to indicate whether that customer
might be prime, near prime or specialist.

“The adviser is then in a fabulous position to talk to the customer with the confidence about a genuine solution at their fingertips,” Sargeant says.

Pepper says its adviser tools are unique in the market. Pepper Money has built a reputation for supporting advisers in innovative and useful ways. “Pepper’s technical tools coupled with the deep relationships we have with our advisers, allows Pepper to continue to do what we do best, which is support advisers to help more customers succeed.”

Pepper Money will continue to release further updates to PPS over time.