The specialist lender has reduced five-year fixed rates on residential mortgages by up to 0.7 percentage points and launched new five-year fixes on near prime (NP) products.
All two-year and 30-month residential fixed rates have been cut by up to 0.6 percentage points on non-conforming products.
The lender’s residential rates start from 2.28 per cent for a two-year fix and 2.88 per cent for a five-year fix, both at 70 per cent loan-to-value.
In the buy-to-let range, five-year fixed rates have been reduced by 0.7 percentage points, while new two and five-year fixed rates have been introduced on NP products
Buy-to-let rates are available from 3.13 per cent at 70 per cent LTV.
Rob Barnard, sales director of Pepper Homeloans, said: “The days when borrowers with an adverse credit record had to pay a hefty price premium on their mortgages are now long gone. With rates starting from just 2.28 per cent, borrowers have a great choice of fixed and variable rates that represent fantastic value for money.
“This market and these low rates represent a great opportunity for brokers to boost business volumes during the second half of the year. We’re happy to help any intermediary tap into this business stream and our business development managers are ready to answer any questions or queries they may have.”
Daren O’Brien, IFA at Aurora Financial Solutions, said the lower rates on five-year fixes would help the growing number of people looking for longer product terms.
“People are definitely moving towards five-year ones now,” he said. “We are even having people moving for ten years - although when they see the rates they are not always that keen. Two years used to be the go-to, but five-year fixes are definitely increasing.”