Pepper Money is expanding its homeowner loan product range with a new suite of no and low early repayment charge (ERC) options for borrowers.
The enhancement helps homeowners looking to take out a second charge loan access a greater range of products that can be tailored to their individual needs and circumstances.
The new five-year fixed no ERC product is now available as part of Pepper Money’s XLTV and Plus ranges, available at a maximum LTV of 100% and 80% respectively. This move complements Pepper Money’s decision to introduce the prime five-year fixed no ERC product earlier this year.
Pepper has also launched new five-year low-ERC products as part of its XLTV (100% max LTV), Plus (80% max LTV), and prime (85% max LTV) ranges, with fees as low as 1% during the fixed rate period.
Ryan McGrath (pictured), director of secured loans at Pepper Money, commented: “We are always on the lookout for ways we can adapt our product ranges to increase choice and flexibility for our customers and broker partners.
“By expanding our proposition, we can meet the needs of more customers giving them greater certainty over their financial futures, as well as increased flexibility at a time when monthly affordability can be strained.
“We are proud to lead the secured loans market by providing the best possible options for customers at all stages of their homeownership journeys. While interest rates are edging down, we continue to work with our broker partners to find the right products and best outcomes for as many customers as possible.”
