Pepper Money has repriced its range of affordable housing, residential and buy-to-let mortgages in response to rising swap rates.

The specialist lender has increased rates across its residential fixed rate range by an average of 0.64 percentage points in line with the rising rate environment.

Brokers who have an existing DIP on Pepper Money’s old range have seven days to submit a Full Mortgage Application in order to secure the rate.

Paul Adams (pictured), sales director at Pepper Money, said: “It’s no secret that rates are increasing across the market, and may continue to rise. In this environment, it’s important that customers are able to apply for and secure existing rates quickly, before they increase in line with expectations. So now, perhaps more than ever before, service and turnaround are key considerations for brokers in choosing a lender.

“At Pepper Money, we aim to assess all documents and complete an underwriting assessment within 24 hours. This means we are able to provide certainty quickly. Our broker calls are answered on average in under a minute and we provide dedicated case owners from application to offer, ensuring consistency clarity, and the ability to speak directly to them during the application journey.

“With this approach, we are able to continue to provide competitive solutions for customers whose circumstances leave them overlooked by high street lenders and can be let down by the slow turnaround times that are currently impacting some specialist lenders.

“Our financially inclusive products combined with our award-winning service provide brokers with the confidence they need in the current environment.”