Pepper launches 2.98% five-year fixed BTL rate

Pepper Homeloans has launched a limited edition buy-to-let five-year fixed rate at 2.98% with a rental calculation based on the pay rate.

Related topics:  Mortgages
Rozi Jones
10th May 2017
Rob Barnard Pepper
"The pay rate rental calculation also means landlords can borrow more, providing them with a significant benefit."

The rate is available up to 75% LTV on a rental calculation of 140% x pay rate on Pepper NP1 products only (no CCJs or missed payments in the past 36 months and no arrears in the past 6 months).

The product comes with a completion fee of 1.75% and free legals on all remortgages.

Rob Barnard, Sales Director of Pepper Homeloans, said: “Our research indicates that this product will typically appeal to investors who are seeking capital growth over a five-year period. The pay rate rental calculation also means landlords can borrow more, providing them with a significant benefit.

“With a rate of just 2.98%, a minimum loan size of £25,001 and free legals on remortgages, this is a very attractive package which landlords could see as an ideal opportunity to refinance their portfolio.”

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