Specialist lender Pepper Money has expanded its residential mortgage range to include a 90% loan-to-value (LTV) option.

The new products will be offered across the lender’s Pepper48 and Pepper36 lines, with rates starting at 6.39% for a five-year fixed term.

The new range is open to borrowers who have not experienced a county court judgement or default within the last three years.

Pepper Money’s approach does not impose debt-to-income limits, enabling applicants to raise capital up to the full 90% LTV, depending on their circumstances.

The lender will also continue to apply its human-led underwriting process, which is intended to cater for borrowers with less conventional financial histories.

Paul Adams, sales director at Pepper Money, said the changes reflected a realignment of product strategy with the financial realities of modern buyers.

“As a leading specialist lender, we are proud to develop and enhance our product offering to adapt to the changing realities of the housing market, as well as the shifting needs of buyers, particularly those with more complex or less traditional financial histories that might not meet the requirements of high street lenders,” he said.

“There is no denying that house prices have skyrocketed in relation to earnings and this means deposits are rising too, putting more stress on already stretched households looking to purchase a home.

“High-LTV mortgages will go some way to alleviate these pressures, helping more buyers to make their property purchase a reality.

“But we know that not every borrower meets the strict requirements of high street lenders, particularly those who are self-employed or have navigated an adverse life event.

“That shouldn’t be a reason to hold them back from buying a home of their own, it’s only right that we adapt our product offering to ensure that all those who can and want to buy a home are given the best opportunity to.”