Pepper Money has reduced the rates on its almost prime mortgage ranges, Pepper 60 and Pepper 48, for borrowers who miss out on mainstream lending due to a low credit rating.
Across the Pepper 60 range, for those who have not had a default or county court judgment (CCJ) in the last 60 months but may have missed a payment in the last year, rates now begin from 2.9 per cent for a two or five-year fix at 70 per cent loan to value (LTV).
On Pepper 48 Light, for those who have had no defaults within the last 48 months and no CCJs at all, rates start at three per cent for a two or five-year fixed mortgage at 70 per cent LTV with a £795 fee. On Pepper 48, for those who have not had a CCJ or default in the last 48 months, rates begin at 3.05 per cent.
The range offers fee-free options and a £395 fee paying route, which both come with a free valuation and £500 cashback. Products in the range with a £795 fee have £500 cashback. The products go up to 85 per cent LTV.
Paul Adams (pictured), sales director at Pepper Money, said: “Our Pepper 60 and Pepper 48 mortgages have been developed to help customers who just miss out on a high street mortgage.
“This is often because of a low credit score but can include other factors too such as complex incomes or level of current debt compared to level of income. There are many circumstances in which Pepper Money can help almost prime customers.”
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS
