Pepper Money has reduced its standard bank statement requirements for employed and self-employed applicants to one month.

The move forms part of the specialist lender’s wider commitment to simplifying its application process for brokers and customers.

As part of the enhancement to its first charge mortgage offering, Pepper Money has removed the requirement to supply bank statements for those needing an offer extension. The lender has also removed the requirement to provide an assured shorthold tenancy agreement for applications from renters.

The specialist lender also confirmed it would continue to fully verify income from applicants and would use credit reference data to understand financial history and conduct via credit reports.

Sales director at Pepper Money, Paul Adams, commented: “We understand just how hard mortgage brokers and administrators work to support their customers to complete their home buying journey.

“By simplifying the number of bank statements required for mortgage applicants, we’re helping to alleviate some of that administrative burden, meaning that brokers and administrators can focus on the job at hand.”

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