Pepper launches lifetime tracker mortgages

The tracker mortgages are available on the Pepper 36 Light to Pepper 60 ranges with rates starting at 2.67%.

The Pepper 36 Light range is suitable for customers that haven’t had a default in the last 36 months and who have never had a CCJ.

Rates track Pepper Money’s variable rate, which is known as LMR and is currently 1.10%. Customers will have the option of a lifetime tracker at 65% LTV, with LMR + 1.57%, meaning the rate payable by a customer is currently 2.67%.

Rates are available at 2.88% up to 75% LTV, 3.21% up to 80% LTV, and 3.73% up to 85% LTV, all with no completion fees.

Pepper Money is also repricing across the rest of its range in line with the rising rate environment.

Paul Adams, sales director at Pepper Money, said: “We know that choice is important to both brokers and customers. For some, tracker rates have retained popularity as they can provide a more cost effective option than a fixed rate in a rising rate environment, and so we wanted to meet this requirement with the launch of our lifetime tracker mortgages, and to further broaden our range.

“Whatever product is best suited to a customer’s circumstance; brokers can always be certain about Pepper Money’s quick and transparent service. With access to our dedicated case owners, who are just a phone call away to support a smooth application to offer process, we are committed to providing a best in class experience.”