Pepper Money launched shared ownership as a pilot back in September to refine its processes and improve its service delivery – now, the proposition has been released to the wider broker community.

The range is available on its Pepper 24 and 36 product tier, up to 75% loan-to-value (LTV), to help customers with unsecured missed payments, County Court Judgments (CCJs) and defaults registered as recently as 24 months ago.

The launch into shared ownership mortgages is part of Pepper Money’s growing affordable home ownership proposition, to help more hopeful homeowners purchase their own property, and follows the launch into Help to Buy last month.

“At Pepper Money, our primary objective is to promote greater financial inclusion to a diverse range of customers,” said Paul Adams, sales director at Pepper Money.

“In line with this, we have been working hard on developing a dedicated proposition to provide competitive specialist lending to customers looking to access the property market through affordable home ownership schemes.

“Last month, as part of this initiative, we launched into Help to Buy, and I am now very pleased to announce our launch of our shared ownership proposition to the whole of market, following a successful pilot with TMP The Mortgage People.

“We have used the pilot to refine our processes and ensure we can deliver this unique type of lending at the same time as maintaining the high service levels expected of Pepper Money.

“As with all of our mortgages, our shared ownership proposition will be supported by expert underwriters who take an individual approach to assessing every application on its own circumstances and merits.”

Kelly McCabe, managing director at TMP The Mortgage People, added: “Shared ownership needs a lender like Pepper Money, that can underwrite each case on an individual basis, particularly where customers might earn fluctuating income or income from multiple sources.

“We enjoyed working with Pepper Money on developing its proposition and are confident that the team have implemented the right approach to meet the unique demands of this part of the market.”