The reductions have been made in its core range and the lender has removed its limited edition range along with two-year tracker and lifetime tracker.
The largest cuts have been made to products for those with recent adverse credit, including its five-year fixed Pepper 12 DMP deal which has fallen by 2.25 per cent to 8.2 per cent.
Its Pepper 24 bankruptcy two-year fixed rate has decreased by 2.2 per cent to 8.44 per cent.
The lender’s Pepper 6 Light two-year fixed rate at 75 per cent LTV has fallen by 1.59 per cent to 7.85 per cent.
The lowest rate is 6.82 per cent on its Pepper 48 Light product up to 75 per cent LTV on a five-year fixed rate.
Pepper Money has also introduced a £1,495 completion fee option for two and five-year fixed rates for products ranges from Pepper 6 to Pepper 48.
Pepper Money: ‘Significant rate cuts’
Paul Adams (pictured), sales director at Pepper Money, says: “At Pepper Money, we have a reputation for providing outstanding service, consistently delivering speed and certainty to brokers and their customers when they need it most.
“This is particularly important for customers with adverse credit or those looking to take their first step onto the property ladder, especially if they’ve already been let down by another lender.”
He added: “However, price is always clearly an important consideration for customers, and we’ve worked hard to make a vast number of significant rate cuts across our range to ensure that our specialist mortgages remain competitively priced and accessible to as many customers as possible.
“We continue to support these new, lower rates with a commitment to enhancing our award-winning service proposition. As well as being able to quickly speak to a decision maker on the phone, brokers now have access to Live Chat functionality, providing them with the choice to communicate with Pepper Money in the way that best suits them.”
