Pepper Money has reduced prices across its entire product range, with rates cut by up to 98 basis points (bps)

The largest rate reduction is on a Pepper 18 Light five-year fixed rate up to 80% LTV, which has been cut by 98bps.

For customers with recent adverse, there are reductions on Pepper 6 up to 80% LTV, with five-year rates being cut by up to 96bps, and 81bps on the two-year fixed.

Rates have also been reduced across Pepper Money’s Affordable Homeownership ranges, with reductions up to 88bps on five-year fixed rates across Shared Ownership and Right to Buy products up to 75% LTV and First Homes up to 70% LTV.

Paul Adams (pictured), sales director at Pepper Money, said: “This new year has brought positive news for mortgage customers, with the recent decline in SWAP rates translating to lower pricing on mortgages. At Pepper Money, we’ve responded quickly to the changing environment and been able to reduce every rate across our range, with cuts of up to 0.98%.

“Some of the larger reductions are for those customers with smaller deposits of up to 20%, which is great news for brokers as often this group has access to a smaller range of options. We are also continuing to deliver consistently excellent service and underwriter access, making it easy for brokers and their customers to access our new, lower mortgage rates.”