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Pepper makes trail pledge

Pepper Money will keep paying trail to advisers with Covid-19 affected clients until the end of next year.

The Aussie non-bank giant has officially extended its commitment to honour trail payments for "customers affected by Covid-19" until December 2021. 

In March, Pepper promised to keep paying trail for customers who had moved on to interest-only terms or deferred payments until next month.

It came as the Covid crisis forced borrowers to take mortgage holidays as the financial crisis hit.

“Pepper Money was proudly the first lender to support the adviser channel with this commitment in March this year. By extending the timeframe today, we are providing advisers with the support and certainty they need beyond 2020 and well into 2021.” said Aaron Milburn, NZ Country Head for Pepper.


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