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There is mounting speculation that Pepper Home Loans is one of a number of groups preparing to make a bid for the assets of RHG.
According to a report in The Australian Financial Review, Pepper Home Loans is one of three potential companies rumoured to be bidding for the former non-bank lender, with Firstfolio and Alceon both cited as potential candidates.
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Speaking to The Australian Financial Review, Pepper’s chief operating officer David Holmes was quick to dismiss the rumours, stating that no formal or informal approaches had been made to RHG as the lender continued to focus on integrating its GE acquisition.
However, Mr Holmes told the daily that Pepper was "open to opportunity" which was inevitably why the lender had been linked wioth the RHG book.
In May this year, Pepper Home Loans significantly strengthened its position in the non-bank lending space when it acquired GE Money's $5 billion residential portfolio.
Pepper managing director Patrick Tuttle said the GE Money acquisition would accelerate the lender’s long term growth plans within the Australian and New Zealand residential lending space.
“It presents us with a unique opportunity to further expand our existing business model into prime residential lending extending our specialist product suite. This enhanced offering will be leveraged through our growing national broker distribution network utilising our core credit underwriting and loan servicing expertise,” he said.
