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Pepper Money launches residential remortgage range for poorer credit scores

  • 20/10/2021
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Pepper Money launches residential remortgage range for poorer credit scores
Pepper Money has broadened its proposition to introduce a residential remortgage range with a loan to value (LTV) option at 55 per cent to support customers who have failed mainstream credit scores.


The lender said that the range would support an increasing number of customers who may have failed mainstream credit scores coming out of the pandemic. The range is aimed at those who haven’t had a secured missed payment, County Court Judgment (CCJ), or default in 60 months or an unsecured missed payment in the last 12 months.

The range includes a two-year fixed rate up to 55 per cent LTV at 1.98 per cent as well as a five-year fixed rate up to 65 per cent LTV priced at 2.8 per cent.

The range has options up to 85 per cent LTV, with its two-year fixed rate set at 4.23 per cent and its five-year fixed rate priced at 4.18 per cent.

The products are also available to self-employed customers who have three years’ trading history.

Pepper Money’s lending decisions are assessed by human underwriters rather than relying on credit scoring, so the customer’s individual circumstances are taken into account.

The lender said this human approach to underwriting and criteria means Pepper Money can often help with cases that have been turned down elsewhere. For example, unsecured missed payments over 12 months ago are acceptable provided they’ve been brought back up to date.

Paul Adams (pictured), sales director at Pepper Money, said: “The new products enable us to provide some of our lowest ever rates. We’re sure they’ll prove extremely popular with remortgage customers, especially when combined with the choice of free standard legals or our cashback offer, which provides £150 cashback towards costs and the choice of solicitor from across our panel.”

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