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Pepper Money raises LTVs for clients with recent adverse credit issues

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  • 12/04/2021
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Pepper Money raises LTVs for clients with recent adverse credit issues
Pepper Money has raised maximum loan to values (LTVs) on mortgages for customers with recent credit issues.

 

 

The changes apply on products designed for customers with recent payment defaults and/or County Court Judgments (CCJ).

The maximum LTV was increased from 75 to 80 per cent on the Pepper 18 and Pepper 12. 

The product names relate to the number of months since a payment default and/ or CCJ. The Light versions in the range apply to customers who have defaulted on payments but never had a CCJ. 

As well, the maximum LTV on the Pepper 6 was raised from 65 to 75 per cent.

“Often, it’s customers with more recent experiences of adverse credit who struggle to save larger deposits and so, by increasing the maximum LTV on Pepper 6, Pepper 12 and Pepper 18, we are opening up greater opportunities for advisers to help even more customers,” said Paul Adams, sales director at Pepper Money (pictured). 

The fixed rates are the same on the two- and five-year products.

The Pepper 18 rate is 4.95 per cent and for Pepper 18 Light it’s 4.9 per cent, at 80 per cent LTV.

For Pepper 12, the rate is 5.55 per cent and on Pepper 12 Light, 5.5 per cent, at 80 per cent LTV.

On Pepper 6, the rates are 6.45 per cent up to 70 per cent LTV and 6.65 per cent up to 75 per cent LTV.

And on the Pepper 6 Light, it’s 6.4 per cent up to 70 per cent LTV, and 6.6 per cent for 75 per cent LTV.

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