Pepper Money has cut prices across its residential mortgage range, with over 50 rates cut by up to 1.04%.
It has also added more options for customers who may have experienced a financial blip as recently as six months ago.
The largest reduction is on the Pepper 24 5-year fixed rate up to 80% LTV, which is available to customers who may have experienced defaults, secured missed payments or CCJs in the last 24 months. The rate is now 4.30%, down from 5.34%.
Other notable reductions include the Pepper 24 Light 5-year fixed rate, for customers who may have experienced defaults, missed payments and arrears in the last 24 months, but never have had a CCJ. The rate on this product has been cut by 0.94 percentage points to 4.25%.
Other reductions include the following:
- Pepper 18 up to 75% LTV cut by 0.90 percentage points to 4.80%
- Pepper 12 up to 75% LTV cut by 0.85 percentage points to 5.40%
- Pepper 18 Light up to 75% LTV cut by 0.85 percentage points to 4.75%
The biggest reductions on Pepper Money’s 2-year fixed rates include:
- Pepper 12 up to 75% LTV cut by 0.75 percentage points to 5.40%
- Pepper 12 Light up to 75% LTV cut by 0.70 percentage points to 5.35%
- Pepper 18 up to 75% LTV cut by 0.65 percentage points to 4.80
Paul Adams (pictured), sales director at Pepper Money, said: “At Pepper Money, we have remained committed to supporting advisers and customers throughout the pandemic, continuing to provide mortgages for a diverse range of circumstances and needs. Our products & criteria are underpinned by efficient, transparent underwriting and up to date service levels.
“As confidence has grown in the UK mortgage market, we are now in a position where we are able to provide many of those mortgages at even lower rates, and so we are passing these savings on to customers with one of the largest product revamps in Pepper Money’s history.”
