Pepper Money cuts rates across more than 300 mortgages

Pepper Money has reduced rates across more than 300 products in its residential and affordable home ownership product ranges.

The largest reductions are on the specialist lender’s 85% LTV mortgages, which could support those with recent credit blips or adverse credit.

In addition, Pepper Money has cut the price of its limited edition three-year fixed rates, providing further support for customers in the final steps of repairing their credit.

The lowest rate now available is 6.72% and notable reductions at 85% LTV include a Pepper 12 DMP five-year fixed rate which has been reduced by 0.35%, a Pepper 36 three-year fix down by 0.55%, a Pepper 18 two-year fix reduced by 0.25%, and a Pepper 48 light two-year fix down by 0.29%.

Paul Adams, sales director at Pepper Money, said: “We’re delighted to be able to cut the rates on more than 300 mortgages, with a particular focus on those customers who have experienced credit problems or have smaller deposits.

"We have no LTV restrictions on capital raising when remortgaging, so brokers are able to consolidate existing debts up to 85%, where some of our biggest rate reductions are, and take advantage of our free legals offering of £350 cashback.

"Our recent affordability enhancements combined with these reductions across our range of products highlights the role we play in helping brokers to help customers fulfil their mortgage ambitions.”