Mortgages

Pepper Money revamps rates and criteria across entire range

The lender has repriced rates across its residential and buy-to-let products and cut the cost of valuation fees.

Rozi Jones
|
17th April 2019
Paul Adams Pepper
"We have also lowered some upfront costs and introduced a new £0 completion fee option"

Pepper Money has revamped criteria and rates across its entire residential and buy-to-let ranges.

As part of the changes, Pepper has introduced a £0 completion fee option to its residential range, alongside an alternative flat fee of £995 or £1,295 for DMP products. The lender has also cut the cost of valuation fees by up to £200.

Additionally, the lender has repriced rates across its residential and buy-to-let products, with highlights including a 0.20% reduction on the Pepper 24 five-year fixed rate to 3.77%.

Last November, Pepper Money simplified its criteria for borrowers with adverse credit with new product tiers ranging from Pepper 6 to Pepper 48, which relate to the most recent CCJs, mortgage or secured loan missed payments and arrears on the client’s credit file.

Paul Adams, sales director at Pepper Money, said: “At Pepper Money, we constantly review our products to ensure they give brokers the tools they need to find a home for their interesting cases, and our latest changes give the duel benefit of greater choice with more simplicity.

“We have also lowered some upfront costs and introduced a new £0 completion fee option, which I know will be well received and is also ideal for clients who want to borrow up to the maximum LTV and would have otherwise had to add the fee to the loan.

“As well as this, we have cut the price on some of our products, including some five-year fixed rates, which are popular amongst clients looking for longer term certainty and to maximise their affordability.

“Our new product range provides brokers with new set of tools to help place your interesting cases for clients often over-looked by mainstream lenders.”

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