Its two and five-year fixed purchase and remortgage deals are now up to 0.75 per cent higher, while its three-year fixed remortgage rates have been increased by 0.65 per cent.
Its two-year fixes start from 5.29 per cent for a product at 60 per cent loan to value (LTV) with a £995 fee, up to 6.44 per cent for a fee-free deal at 90-95 per cent LTV.
Corresponding five-year fixes are priced at 4.94 per cent and 5.84 per cent respectively.
The three-year fixed remortgages are now priced at 5.14 per cent at both 0-60 per cent loan to value (LTV) and 60-75 per cent LTV.
The lender has also increased its two and five-year fixed product transfer rates up to 90 per cent LTV by as much as 0.8 per cent, while its two and five-year fixed additional borrowing products have seen the same increase.
Changes are effective from 2 June.
Pepper Money reprices range
Pepper Money has increased rates across its mortgage offering which it said was a response to rising swap rates.
The new rates are available from today, but brokers can still complete full mortgage applications for the previous range until 5 June.
Its residential mortgage rates now begin from 6.74 per cent and shared ownership rates start from 8.19 per cent. The lender’s Help to Buy remortgage rates start from 8.19 per cent, while Right to Buy rates begin from 8.99 per cent.
Paul Adams, sales director at Pepper Money, said: “At Pepper Money, we always take a transparent approach to communicating with brokers. The volatility we are seeing in swap rates means that, as with many lenders, we need to review the pricing across our product range.
“We have given notice and so providing brokers with the opportunity to submit decision in principles (DIPs) on the existing range until 5pm on 1 June and, where brokers have had a DIP accepted on this range, they have until 5 June to submit a full mortgage application. Our clear criteria and hands-on approach to underwriting remain unchanged and we’re committed to continuing to help those underserved customers.”
