"We have responded to broker feedback to increase the maximum LTV on our Pepper 60 product and made a number of rate reductions across our residential and buy-to-let ranges."
The maximum buy-to-let LTV on Pepper 60 now includes 75% and 80% LTVs, with a five-year fixed rate starting at 3.23%.
Pepper has also expanded its 85% residential LTV, which is now available to customers who have had adverse credit registered over 24 months ago with the release of its Pepper 24 offering.
Additionally, the lender has announced 50 rate reductions across its two and five-year fixed rate residential mortgages. The largest two-year fixed rate cut is on Pepper 6, which has been reduced by 0.80% to 5.65%. The biggest rate cut on a five-year fix is on Pepper 12, which has been reduced by 0.70% to 4.70%.
Pepper Money has also made more than 30 rate reductions across its buy-to-let products. The most significant five-year fixed rate cut is on Pepper 24, which has been reduced by 0.40% to 4.15% and the largest two-year fixed rate reduction is on Pepper 48, which has been reduced by 0.35% to 3.25%.
Pepper has also simplified valuation fees across its range and refined the number of tiers available on buy-to-let, making the proposition easier to understand and more accessible to more brokers.
Paul Adams, sales director at Pepper Money, said: “At Pepper Money, we are always looking for ways we can enhance our proposition to make it easier for brokers to find a home for their specialist mortgage cases.
“This product launch is an excellent demonstration of just that. We have responded to broker feedback to increase the maximum LTV on our Pepper 60 product and made a number of rate reductions across our residential and buy-to-let ranges. We have also made other changes to simplify our proposition and make it more accessible to even more customers.”
