Mortgages

Pepper increases maximum LTV on recent adverse credit range

Rozi Jones
|
12th April 2021
Paul Adams Pepper
"Often it’s customers with more recent experiences of adverse credit who struggle to save larger deposits"

Pepper Money has increased the maximum LTV available on its mortgages for customers with a more recent experience of adverse credit.

The maximum LTV on Pepper 18 and Pepper 12 has been increased from 75% to 80%. Pepper is also supporting customers with recent financial blips by also enhancing the maximum LTV on Pepper 6 from 65% to 75%.

Pepper 18 is available to customers who may have experienced defaults, secured missed payments, or CCJs as recently as 18 months ago, with Pepper 12 available to customers with occurences of these as recently as 12 months ago and Pepper 6, for six months or later.

Each of these ranges also offers a Pepper Light alternative for customers who may have experienced defaults or secured missed payments, but have never had a CCJ.

The price of two and five-year fixed rates is the same for each of the products, with 80% LTV mortgages on Pepper 18 Light available at 4.90%, and 4.95% on Pepper 18. The price of an 80% LTV product on Pepper 12 Light is 5.50% and 5.55% on Pepper 12.

On Pepper 6 Light, the rate is 6.40% up to 70% LTV and 6.60% up to 75% LTV. On Pepper 6, the rate is 6.45% up to 70% LTV and 6.65% up to 75% LTV.

Paul Adams, sales director at Pepper Money, said: “At Pepper Money, we are always working on ways to give greater access to the mortgage market to a wider group of customers. Often it’s customers with more recent experiences of adverse credit who struggle to save larger deposits and so, by increasing the maximum LTV on Pepper 6, Pepper 12 and Pepper 18, we are opening up greater opportunities for advisers to help even more customers.”

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