New rates will be available on the lender's new range of limited edition residential products
Specialist lender Pepper Money has announced its biggest rate reduction so far this year, with rates cut by up to 95 basis points.
The lender said the new rates will be available on its new range of limited edition residential products, available from 7.44% for a five-year fixed rate on Pepper 48 light up to 75% loan-to-value (LTV).
Pepper Money has introduced over 140 limited edition products, with the largest rate reductions aimed at customers with recent adverse credit events and smaller deposits.
Brokers have a wide variety to choose from across its Pepper 48 through to Pepper 6 range. The reductions also include its light range, which is available for customers who have missed payments and defaults, but no county court judgments (CCJs).
“At Pepper Money, we’re responding quickly to a fall in swap rates by improving our rates to ensure we provide an opportunity to customers facing challenges accessing mortgages,” stated Paul Adams (pictured), sales director at Pepper Money.
“Our human approach to decision-making without credit scoring will help customers who may have experienced financial difficulties and are having trouble finding options that meet their needs. In the current climate, we understand why assessing documents and undertaking an underwriting assessment within 24 hours is so important.”
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