Specialist lender Pepper Money has extended its secured loan offering with the introduction of new no and low early repayment charge (ERC) options across its product suite, including loan-to-value (LTV) bands of up to 100%.

The announcement builds on the lender’s strategy of widening borrower choice and providing flexibility amid ongoing speculation over the Bank of England’s next move on interest rates.

The new products are intended to give homeowners more confidence and room to manoeuvre when planning their finances, particularly in light of current economic uncertainty.

The latest range enhancements include the addition of a 5-Year Fixed No ERC product within Pepper Money’s XLTV and Plus ranges, with maximum LTVs of 100% and 80% respectively. These products join the Prime 5-Year Fixed No ERC option launched earlier this year.

The lender has also introduced a 5-Year Fixed Low-ERC offering across its XLTV (100% LTV), Plus (80% LTV), and Prime (85% LTV) tiers. These carry ERCs as low as 1% during the fixed rate period.

The expansion is designed to support borrowers seeking to unlock value from their homes without remortgaging, particularly those on favourable fixed rates.

Ryan McGrath, director of secured loans at Pepper Money, said: “We are always on the lookout for ways we can adapt our product ranges to increase choice and flexibility for our customers and broker partners.

“By expanding our proposition, we can meet the needs of more customers giving them greater certainty over their financial futures, as well as increased flexibility at a time when monthly affordability can be strained.

“We are proud to lead the secured loans market by providing the best possible options for customers at all stages of their homeownership journeys.

“While interest rates are edging down, we continue to work with our broker partners to find the right products and best outcomes for as many customers as possible.”