Pepper ups rates as swap rates continue to rise

Pepper Money has repriced its product range in response to significant increases in swap rates in the last week.

The specialist lender will continue to offer its full range, with new rates available from this morning. The cut-off for brokers submitting DIPs on the previous range was 5pm on 1st June and the deadline for Full Mortgage Applications is 5th June.

Pepper Money’s rates now start at 6.74%, shared ownership rates at 8.19%, Help to Buy remortgage rates from 8.19% and Right to Buy rates from 8.99%.

Paul Adams, sales director at Pepper Money, said: “At Pepper Money, we always take a transparent approach to communicating with brokers. The volatility we are seeing in swap rates means that, as with many lenders, we need to review the pricing across our product range.

"We have given notice and so providing brokers with the opportunity to submit DIPs on the existing range until 5pm on 1st June and, where brokers have had a DIP accepted on this range, they have until 5th June to submit a Full Mortgage Application.

"Our clear criteria and hands-on approach to underwriting remain unchanged and we’re committed to continuing to help those underserved customers.”