Pepper expands residential mortgage range

Pepper expands residential mortgage range

Intermediary-focused specialist lender Pepper Homeloans has revamped its entire range of residential mortgage products by cutting most of its existing rates and adding new deals.

The majority of existing two-year fixed rates have been cut by up to 0.25 per cent while limited edition 30-month fixes, which were only previously available on NP2 products, are now available across the whole residential range.

Rates are available from 2.93 per cent.

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Also, new and three and five-year fixed rates have been introduced across all residential products. Three-year fixes start from 3.18 per cent and five-year fixes start from 3.53 per cent.  

Rob Barnard, sales director at Pepper Homeloans, said: “These enhancements not only extend the range of mortgage products we have available, but it also means they are amongst the most competitively priced in their sector.

“Our residential range offers loans up to 85 per cent loan-to-value for borrowers who may have been declined by a high street lender’s credit score. We have mortgages for borrowers with historical credit blips, or an immature credit record, or who have been self-employed for just one year.” 

In December last year Pepper Homeloans launched a residential mortgage offering with 30-month fixed rates.

Pepper Homeloans entered the UK mortgage market in 2015 and the wider Pepper Group operates speciality financial services in Australia, South Korea, Hong Kong and Spain.

David Hollingworth, associate director of communications at L&C Mortgages, said: “Competition is leading to lenders looking at how they can price, how they can be more competitive and broaden the range to appeal to a wider core of borrowers and that’s very much applying to specialist markets now.”