Pepper Money has enhanced its limited edition specialist mortgage range. The lender has reduced rates, introduced £350 cashback for remortgage customers, and enhanced its Pepper48 product at 75% LTV.
Rates have reduced by 0.25%, now starting at 5.39% for a two-year fix and 4.89% for a five-year fix.
Available exclusively on its Pepper48 product at 75% LTV, the offer includes a minimum loan size of £350,000 and £350 cashback or free legals for remortgage customers.
Pepper has also announced two key improvements to its mortgage application process: the rollout of Docusign for offer acceptances and an extension of mortgage offer validity from 90 to 120 days across its residential, buy-to-let and limited company buy-to-let products.
The offer validity extension comes at a time where slow-moving chains have sparked a government consultation to improve the home buying and selling process. According to the property portal Zoopla, transactions are now taking up to five months from the offer being accepted to completion.
Pepper Money is also introducing Docusign within its first charge mortgage business for customers to complete and return their mortgage offer acceptance documents. By replacing password-protected PDFs with a secure digital signing process, brokers and their customers will benefit from faster turnaround times, clearer visibility over document completion and a smoother overall experience.
Paul Adams, sales director at Pepper Money, commented: “With the average house price at its highest level, borrowers need clear, competitive options, and our new limited edition offer is designed to give them exactly that. By reducing our rates and enhancing the product structure, we’re supporting brokers with a compelling solution for customers with larger borrowing needs.
“Brokers consistently highlight industry-wide hurdles, slow processes and uncertainty facing their customers, so these enhancements are a direct response to that. Moving offer validity to 120 days provides much-needed breathing space for customers, particularly where chains are moving slowly, and reduces the administrative burden of repeated extension requests.
“This added flexibility will prove particularly beneficial for customers in more complex chains, including many in the shared ownership market, where timelines can be less predictable. Introducing DocuSign is another step toward a more efficient mortgage journey, giving brokers and customers a quicker, clearer and more secure way to return offer acceptance documents. We’re committed to continuing to improve the experience at every stage.”
