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Pepper Money to acquire Optimum Credit Ltd

Pepper Money has finalised the terms to acquire 100% of the second charge lender, Optimum Credit Ltd.

The purchase will see Pepper Money acquire Optimum Credit’s entire business, along with a second charge loan book of more than £450 million.

Purchased from its current owner Patron Capital, Optimum Credit offers a range of variable, fixed and discounted second charge mortgages to homeowners in England, Wales and Scotland.


The Cardiff-based business is expected to continue drawing on existing funding methods including public capital markets insurance.

Recently, Pepper Money announced that it has commenced initial discussions with the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) to commence a project to seek authorisation for a banking licence.

Laurence Morey, chief executive officer of Pepper Money, commented: “We are looking forward to how this acquisition will enhance the growth of Pepper Money’s intermediary-led secured lending proposition and are excited at the prospect of supporting the Optimum Credit team in the continued development of their unique proposition supported by excellent systems and intermediary relationships in an exciting market segment.”

Sam Marshall, chief executive officer at Optimum Credit, added: “Pepper Money has shared a very similar journey to ours. We share a common culture and entrepreneurial approach with the intermediary and UK residential property owner at the core of our proposition.”

“This acquisition will give Optimum Credit access to a wider range of resources and shared expertise that will enhance our business and enable our continued growth,” he added.


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