Pepper Money has revised its payment process by replacing the majority of cheque payments on its second charge mortgage lending with electronic payment methods.
The lender says it has made the change as part of its commitment to Environmental, Social and Governance (ESG) initiatives.
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 nearly 300,000g of CO2 emissions annually by cutting down on print and postage.
Customers can send payments via bank transfer as part of our electronic payment method.
Tom Whitney, head of sales, second charge mortgages at Pepper Money, said: “At Pepper Money, 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.”