Pepper Money has secured new new warehouse facilities, worth more than £1.2bn, to support its lending plans for first and second charge mortgages.
Three new funding lines for first charge mortgages have been agreed with Deutsche Bank, Lloyds Bank and MUFG.
The lender has also secured a new agreement with Santander to fund its second charge mortgage lending.
Pepper Money said the new arrangements take its total warehouse capacity to over £2.8bn providing a strong funding pipeline and increased capacity to support its growth aspirations and intermediary partners into 2024 and beyond.
CFO at Pepper Money, Andrew Voss, commented: “With the recent market volatility, it’s important Pepper Money has this additional capacity to provide a stable funding base and continuing originating through market cycles.
“With the current challenging conditions, we recognise that intermediaries are looking for lenders who will continue to lend and support their clients, with this new funding, Pepper continues to be that lender.”
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