We are aware of scams involving individuals being offered loans for an advanced upfront fee. With the fraudster posing as a representative of a financial services organisation. At Pepper Money we do not charge any fees before the application stage. We would not approach you directly in this way. Your broker will be able to tell you what fees and charges the product you’re applying for has, and when they will be charged. If you think you have been a victim of such a scam, please contact your bank immediately and report it to action fraud.
Money Worries
If you are currently experiencing money worries talk to us.
We might be able to help.
You can call us on 03333 701 102. Our lines are open from 9 am to 6 pm, Monday to Friday. Or email us at [email protected], where one of our friendly team will be able to help.
Our glossary is Pepper Money’s guide to decoding the world of mortgage language. Find out more about what common terms actually mean.
What do I do if I can’t make my monthly payment?
We understand the cost of living crisis could be having an impact on you. If you’re worried about meeting your payments now or in the future, we’re here to help. Call one of our friendly team on 03333 701 102. Our lines are open from 9 am to 6 pm, Monday to Friday.
During the call, we’ll listen to your situation and work with you to try and find a suitable solution.
We have a dedicated space on our website full of resources to help customers who need extra support.
Complete a budget planner, and download our Income and Expenditure form. This will show your current borrowing with any fixed and variable costs. You will see your remaining funds each month to help towards your repayment.
We recommend researching if you are eligible for state benefits or tax credits. Consider checking if you have an insurance policy that could help with meeting payments.
What can Pepper Money do to help?
We understand the rise in the cost of living has increased the pressure on personal finances. If you’re concerned about falling behind with your payments let us know; the earlier you contact us, the sooner we will be able to help you. If you think you may be facing payment difficulties, do not be put off contacting us, even if you are up to date with payments.
You can contact us in different ways, including calling, emailing or writing to us, using the Contact Us page.
Our dedicated Customer Support team will work with you to find an appropriate solution based on your individual circumstances. They will aim to better understand your situation (this may include discussing your income and outgoings) and then consider potential support options; we will never ask you to pay more than you can afford.
Solution options (sometimes referred to as forbearance) can include both short term and long-term solutions, depending on your circumstances. They may include the following:
- A payment arrangement to maintain your monthly payment and clear any missed payments over an affordable period
- Reduced payments for an agreed period based upon what you can afford with reviews as your situation changes
- Transfer to a different mortgage product which may reduce your payments
- Temporary transfer to an Interest Only mortgage – so you are paying only the interest and not the capital
- Time to allow you to get independent debt advice
- Adding what is owed, or a proportion thereof, to your total mortgage balance. That means arrears will be added to the capital balance upon which interest is charged
- Adjusting your interest rate for an agreed period, with reviews as your situation changes
- Time to progress an option such as selling your property or remortgaging
- Consent to let
IMPORTANT: These are based on your circumstances and affordability. Not all options are suitable or available for everyone. We will explain the options available and what the individual support would mean for you, including how any arrangement will be reported on your credit file. In addition, we will also explain the impact of any arrangement on your mortgage balance.
We always recommend you seek independent debt advice. Please see our help pages for contact details.
I'm behind on my mortgage or homeowner loan. Have you sent me a text to make a payment?
We use text messages to communicate with some customers when they’ve recently missed a payment. We understand you may want to check if the message you’ve received is from Pepper Money and not a fraud attempt.
To reassure you, the message will display from; ‘PEPPER’ on your phone, and the link to make a payment will contain the word Pay Thru, our payment partner.
If you’re still unsure if a text is from us, one of our team will be happy to help you, You can give us a call Monday to Friday between 9am – 6pm on 03333 701 102. You can also make an automated payment by phone using the same telephone number, 24 hours a day.
I’m behind in my payments and worried I can’t catch-up. What can I do?
We understand this can be stressful, and we’re here to help. Please contact one of our friendly team as soon as possible on 0333 014 3125. Our lines are open from 9 am to 5.30 pm, Monday to Friday. During the call, we’ll listen to your situation and work with you to try and find a suitable solution. Please complete our income and expenditure form before calling. This will show your current borrowing with any fixed and variable costs. You will see your remaining funds each month to help towards your repayment. We will review your form with you on the call to understand your current circumstances.
I haven’t lost my job but will struggle to make my monthly payment because of the cost of living crisis. Can you help me?
We understand the cost of living crisis could be having an impact on you. If you’re worried about meeting your payments now or in the future, we’re here to help. Contact one of our friendly team on 0333 702 102 between 9 am to 6pm, Monday to Friday. During the call, we’ll listen to your situation and work with you to try and find a suitable solution. We have dedicated resources on our website to help customers needing extra support.
A good starting point can be getting on top of your finances. Please complete our Income and Expenditure form before calling. This will show your current borrowing with any fixed and variable costs. You will see your remaining funds each month to help towards your repayment. We will review your form with you on the call to understand your current circumstances.
What is the impact of falling into arrears on my mortgage payments?
A mortgage or secured loan (where money is borrowed against your property) is identified by the Citizens Advice Bureau as priority debt. This means falling into arrears can potentially have a serious impact on you.
The term (length of the agreement) of your mortgage will not change. This means you’ll have a higher balance, and your payments will increase as a result.
For example:
- On a £40,000 loan
- With a 6% interest rate,
- 180-month remaining term
- £337.54 monthly payment,
You would pay an extra £3.41 in interest if paying off an arrears balance of £337.54 in 3 months and an extra £11.38 if paying off the arrears balance in 12 months.
While,
- On a £160,000 loan
- With a 4% interest rate,
- 240-month remaining term
- £969.57 monthly payment,
You would pay an extra £6.51 in interest if paying off an arrears balance of £969.57 in 3 months and an extra £21.53 if paying off the arrears balance in 12 months.
Lenders have an obligation to report mortgage and secured loan arrears to credit reference agencies. Therefore, arrears could impact your future borrowing ability or increase the cost of it.
The debt is secured against your home or property. If you are unable to meet your repayments, your property could be taken and sold to clear the outstanding debt. This is always the last resort.
We understand that falling into arrears can be worrying and stressful, but there is support out there.
If you are worried you might fall into arrears or your mortgage is currently in arrears, please contact us as soon as possible. Our friendly team is available on 0333 702 102. Our lines are open from 9 am to 6 pm, Monday to Friday.
During the call, we’ll listen to your situation and work with you to try and find a suitable solution. Alternatively, our existing customer pages are full of great independent resources to help borrowers worried about the impact of falling into arrears. You can find out more here.
Is there anyone you could recommend I speak to about my money worries?
You can get free, independent and impartial advice from these organisations:
National Debt Line: 0808 808 4000
Citizens Advice Bureau (CAB): 03444 111 444 (England) or 03444 77 20 20 (Wales)
Step Change Debt Charity: 0800 138 1111
MoneyHelper: 0800 138 7777
Money Advice in Scotland: 0141 572 0237
Civil Legal Advice: 0345 345 4345
Shelter Housing Advice: 0808 800 444
Will I lose my home if I can’t meet my payments?
Repossession is always the last resort. We have options available to support you through difficult times. Repossession becomes an option if we’re unable to agree on an alternative solution. Or if releasing you from the financial burden of mortgage payments is the preferred option.
If repossession is unavoidable, we’re committed to:
- Sell the property for the best price we can within a reasonable period of time.
- Give you reasonable time to remove your possessions from your home.
I'm at risk of losing my home and unsure of my options?
If you’re at risk of losing your home you can get free legal support through the government’s Housing Loss Prevention Advice Service.
Accessing support as soon as possible can help you resolve your situation.
If you have received written notice someone is seeking possession of your home, you’re entitled to free legal advice. A housing expert will talk to you to understand why you might be at risk of losing your home and explain your options.
Housing experts may be able to provide legal advice on:
- illegal eviction
- rent arrears
- mortgage arrears
- issues with welfare benefits payments
- debt concerns
- disrepair and other problems with housing conditions
They may also be able to represent you if you are required to attend a court hearing.
What happens if my home is repossessed, and the sale does not cover the mortgage outstanding?