Lender Profile
Pepper Money Secured Loans Secured Loans
Specialist UK lender for self-employed, contractors, and applicants with credit history.
Starting rate
6.99% APR
Initial fixed period
Up to 60 months
Max LTV
85%
Loan range
£5,000–£500,000
About Pepper Money Secured Loans
Pepper Money is a specialist UK lender owned by Pepper Group, an Australian financial services business with over £20bn under management. Their UK secured loan products focus on borrowers who don't fit mainstream criteria — self-employed with complex income, contractors, those with credit history, and recent house movers.
Pepper's secured loan range starts at 6.99% on a 5-year fix at competitive LTVs and extends up to 85% combined LTV. They're a particularly strong fit for cases that mainstream lenders decline due to documentation rather than affordability — for example, a self-employed borrower with strong income but only one year of accounts.
Underwriting is human-reviewed throughout, with senior underwriters available to discuss complex cases. Decisions in principle are typically issued within 24–48 hours.
Product range: Second charge mortgages on 2-year and 5-year fixed rates. Clean credit and minor-to-moderate adverse credit accepted. Strong appetite for self-employed and contractor cases.
Best for
- Self-employed applicants with limited or complex income evidence
- Day-rate contractors who want income annualised rather than averaged
- Borrowers with one or more satisfied CCJs or settled defaults
- Cases declined by mainstream lenders due to documentation rather than risk
Key facts
- Established
- 2014 in the UK (parent founded 2000)
- Parent Company
- Pepper Group Limited (FCA FRN 706495)
- Min Loan
- £5,000
- Max Loan
- £500,000
- Max Term
- 30 years
- Max Ltv
- 85% combined
- Fee
- £995 arrangement fee, flat
- Credit Tier
- Clean to moderate adverse
- Rate Structure
- 2-year and 5-year fixed, then variable revert
- Completion
- Typically 3–4 weeks
- Property Eligibility
- Standard residential property; lender will commission a valuation. Most property types accepted including ex-local authority.
Pros
- +Strong appetite for self-employed and contractor income
- +Considers CCJs, defaults, and missed payments at higher rates
- +Up to 85% combined LTV with clean credit
- +Backed by an institutional balance sheet — not a P2P platform
Cons
- −Headline rates not the lowest — beaten by Selina Finance on prime cases
- −Maximum loan £500,000 — caps out below some specialist large-loan lenders
- −Application process slightly longer than digital-first competitors
Pepper Money Secured Loans FAQs
What rates does Pepper Money offer on secured loans?
Pepper Money's fixed-rate secured loans start at 6.99% APR for a 5-year fix on clean credit at competitive LTVs. Rates progress through the range depending on credit profile, LTV, and loan size, with minor-to-moderate adverse credit cases priced into a higher band. The maximum combined LTV is 85%.
What is a representative example for a Pepper Money secured loan?
Representative example for a £30,000 secured loan over 120 months at 6.99% APR fixed for 5 years (variable thereafter): monthly repayment £347.62, total loan repayments £41,714.40, Pepper Money arrangement fee £995, Charles Frank Finance broker fee £2,495. Total amount payable £45,204.40. Total charge for credit (interest plus fees) £15,204.40. Representative APRC 8.4%. Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.
What property eligibility does Pepper Money require?
Standard UK residential property in the applicant's name with a current first charge mortgage. Most property types accepted including ex-local authority. The combined LTV across your first charge mortgage and the new Pepper loan cannot exceed 85%. A property valuation is required.
Does Pepper Money offer secured loans for self-employed applicants?
Yes — self-employed lending is one of Pepper's core specialisms. They accept SA302s, accountant-prepared accounts for limited company directors, and in some cases an accountant's certificate for the latest year.
Can I get a Pepper secured loan with a CCJ?
Yes, particularly if the CCJ is satisfied and over 12 months old. Recent unsatisfied CCJs are reviewed case-by-case at higher rates and often with a lower LTV cap.
What's the minimum loan size at Pepper Money?
£5,000 across all Pepper secured loan products — one of the lowest minimums on the UK market.
Does Pepper Money charge an early repayment charge?
Yes — a tapering ERC applies during the fixed-rate period, typically 3% in year 1 reducing to 1% in the final year of the fix. After the fixed period ends there's no ERC.
Apply for a Pepper Money secured loan
We'll match your case against Pepper Money's criteria first — and the rest of our panel — to find the cheapest fit.