The lender has cut two and five-year fixed rates, with rates for existing customers in its Pepper 48 range, which is for existing customers that have not had a County Court Judgement (CCJ) or default in the last 48 months, starting at 6.8 per cent at 70 per cent LTV.
In its Pepper 18 range, which is suitable for customers that haven’t had a CCJ or a default in the last 18 months, five-year fixed rates start from 8.25 per cent at 85 per cent LTV.
In its Pepper 18 Light range, which is for customers that haven’t had a default in the last 18 months and have never had a CCJ, pricing begins from 8.3 per cent for five-year fixed rates at 85 per cent LTV.
Its two-year fixed rate at 80 per cent LTV in its Pepper 18 Light at 80 per cent LTV is eight per cent and two-year fixed rate in its Pepper 18 range at the same LTV is 8.05 per cent.
It has also lowered rates in its debt management plan range by as much as 0.3 per cent.
The lender has also added a 70 per cent LTV tier for Pepper 36 deals which is suitable for customers who haven’t had a CCJ or default in the last 36 months, starting from 6.75 per cent.
Paul Adams (pictured), sales director at Pepper Money, said: “At Pepper Money, we understand how difficult recent years have been for brokers, with the impact of Covid, many lenders struggling with service, and the rate disruption to the market last year.
“Throughout, we have maintained our commitment to delivering a range of specialist mortgages to help their customers who don’t meet the criteria of high street lenders, supported by consistently delivering excellent service that has been recognised by our market leading four-star rating at the FT Adviser Service Awards and frequent five-star Trustpilot reviews.”
He added: “These rate reductions reflect our growing appetite to increase our lending over the coming months as we build on the rising confidence in the funding markets to help an even greater number of customers achieve their goals.”
