Pepper Money has repriced its product range in response to significant increases in swap rates in the last week.

Its rates now start at 6.74%, shared ownership rates starting at 8.19%, Help to Buy remortgage rates from 8.19% and Right to Buy rates available from 8.99%.

Paul Adams, sales director at Pepper Money, said: “At Pepper Money, we always take a transparent approach to communicating with brokers. The volatility we are seeing in SWAP rates means that, as with many lenders, we need to review the pricing across our product range.

“We have given notice and so providing brokers with the opportunity to submit DIPs on the existing range until 5pm on 1st June and, where brokers have had a DIP accepted on this range, they have until 5th June to submit a Full Mortgage Application.

“Our clear criteria and hands-on approach to underwriting remain unchanged and we’re committed to continuing to help those underserved customers.”