Pepper launches fixed rate deals for L&G brokers

Pepper launches fixed rate deals for L&G brokers

Pepper Homeloans has launched a range of two-year fixed rates starting from 2.4 per cent exclusively through Legal & General Mortgage Club.

The new range is available for purchases or remortgages up to 85 per cent loan-to-value and is aimed at borrowers who may have been declined on credit score, but who haven’t had any CCJs or defaults in the past 48 months.

Rob Barnard, sales director of Pepper Homeloans, said: “We have become increasingly aware of borrowers who are being declined on credit score because of credit blips incurred five or six years ago.

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“With rates starting from just 2.40 per cent, these products represent an excellent opportunity for such borrowers to lock into today’s low rates.”

The rates start at 2.4 per cent for 70 per cent LTV and increase to 2.68 per cent for 75 per cent LTV and 3.28 per cent for 80 per cent LTV.

There is also an 85 per cent LTV available at 3.53 per cent.

These products all have a completion fee of £995 and an early repayment charge of 3 per cent of the outstanding balance in year one and 2 per cent in year two.

Jeremy Duncombe, director of the L&G Mortgage Club, said: “We’re delighted that Pepper has chosen to launch this exclusive mortgage deal via L&G Mortgage Club.

“This provides additional choice to our brokers, combined with the manual underwriting that Pepper offers.”