The remortgage-only product with a free valuation and £995 completion fee is available on Pepper 18 and Pepper 12 up to 85% loan to value (LTV) and Pepper 6 up to 80% LTV. Rates start from 6.45%.
There is no value or volume limit on CCJs and defaults, no need for them to be satisfied and the lender will accept 100% of monthly bonuses, overtime and commission.
One year’s self-employed trading or the most recent year’s accounts are also accepted.
Paul Adams, sales director at Pepper Money, said: “Our latest Specialist Lending Study found that 57% of all respondents have experienced a continued decrease in their disposable income and, at Pepper Money, we understand it can be difficult to save as much as you like month to month.
“This Limited Edition Remortgage product provides customers with extra support once they’ve completed, with £750 cashback that’s ideal for those who need an extra financial boost post-completion.
“As with all our products, the application process is quick and easy, with direct access to our underwriters at every stage. We take an inclusive approach to underwriting, with tiered criteria that considers the whole picture – helping to maximise your customers’ affordability and giving you more opportunities to say yes.”
Remortgage instructions and completions increased by 12% and 11% respectively in February, according to figures by conveyancing panel LMS.
Around 42% of those who remortgaged increased their total loan size, with the average loan increase coming to £19,988.
