The lender has been out of the BTL market for nearly three years, having accepted its last BTL application in October 2022.
Pepper Money said its relaunched BTL offering was focused on “maximising mortgage solutions for landlords”.
The products will allow limited companies and individual landlords with up to 10 properties in their portfolio to secure rates starting from 4.99% with a maximum borrowing of £4m.
Pepper Money added that the maximum loan size is £2m at 65% loan to value (LTV) or below.
There is no minimum income requirement, and the deals are available up to a LTV of 80% for properties with an Energy Performance Certificate (EPC) rating between A and C, 75% LTV for properties with an EPC rating of D and 70% LTV where the EPC rating is an E.
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The lender said personal bank statements, business bank statements and proof of income are not needed to secure a BTL mortgage, but the focus would be on income receivable from the property as assessed by an independent Royal Institution of Chartered Surveyors (RICS) surveyor.
Pepper Money said this would align the BTL range with more “practical affordability rules available on a five-year fixed”, so landlords could have a “clearer path to borrowing”.
The firm will also accept multiple sources of funds to pay for deposits, including gifts, directors, loans and existing equity for limited company purchases and there is no requirement to provide a credit score.
Terms of up to 35 years are available and the maximum age is 85.
Paul Adams, sales director at Pepper Money said: “We’re re-entering the buy-to-let market with a new product offering designed to maximise choice and convenience for residential landlords in the UK.
“We know the market is tough for landlords right now, with an increasingly complex regulatory environment to navigate and rising affordability challenges. With no requirement for a minimum income, bank statements, or credit scores, our new buy-to-let offering is designed to support landlords to raise capital for a range of purposes, including consolidating debts to reduce monthly outgoings, or bringing their property’s EPC rating up to a minimum of C ahead of the UK government’s planned 2030 deadline.”
He continued: “At Pepper Money, we are committed to the specialist lending market and developing a broad range of products and services to support brokers. It’s important for us to continue to work collaboratively with brokers so they can deliver competitive rates and quality service to their customers.
“Whether their customers are a first-time landlord, growing their portfolio, or looking to raise capital on an existing property, we could help. We look forward to bolstering Pepper Money’s buy-to-let product range even further with additional enhancements, which we hope to launch in quick succession.”
Last month, the firm cut rates across its entire product range in light of swap rate reductions.
