Pepper Money has replaced the majority of cheque payments on its second charge mortgage lending with electronic payments as part of a new ESG commitment.

Customers can send payments via bank transfer as part of the lender’s electronic payment method, which it suggested will improve efficiency for both itself and consumers.

Last year, Pepper Money sent more than 10,000 cheques to customers on the completion of their second charge mortgages and the move to electronic payment of funds could potentially save 300,000g of carbon dioxide emissions annually by cutting down on print and postage.

The initiative, alongside Pepper Money’s recent move to appoint Anthony Keeble into the newly created role of director of ESG and sustainability, are the first steps of the firm’s commitment to a long-term strategy to become a net zero business.

Head of sales, second charge mortgages at Pepper Money, Tom Whitney, said: “We understand the role that all lenders must play in helping the drive towards a carbon neutral economy. As part of this, we are not just investigating ways we can encourage more energy efficient home ownership, but we’re also looking at our own processes to see where we can make improvements.

“By moving from cheque payments to electronic payments, we’re able to provide a service that isn’t just more efficient but is also more environmentally friendly.”

Share Story: