Pepper Money has relaunched its Pepper 48 range, which includes a new limited edition three-year fixed rate and ‘low ERC’ five-year fixed rate.

Pepper 48 is suitable for customers who haven’t had a CCJ or Default for 48 months range and is available from 6.75% for a five-year fixed rate.

For customers with a smaller deposit, Pepper Money has reduced rates, with a five-year fixed rate on Pepper 48 now available at 6.84% at 85% LTV.

The range also includes lower ERCs on its five-year fixed rate mortgages, with the ERC starting at 3% in the first year and reducing to 0.5% by year four of the product term.

In addition to the relaunch of Pepper 48, Pepper Money has reintroduced free valuations across its range and no arrangement fee options have returned to products from Pepper 48 to Pepper 18.

Paul Adams (pictured), sales director at Pepper Money, said: “Pepper 48 has traditionally been one of the most popular products in our range of specialist mortgages, providing competitive pricing, clear concise criteria and affordability for customers who have tripped up on credit payments in the past, meaning that they often do not pass the credit score models in the mainstream market.

“This relaunch includes low ERCs on five-year fixed rates for customers who want to benefit from the keen pricing of five-year money at the moment, as well as a new three-year fixed rate option for those who want to fix their rate for a shorter period. It also features our lowest current rate for customers with smaller deposits.”