Pepper Money cuts rates, lifts LTVs and loosens criteria on home loans

Essex Home Finance
Pepper Money has revamped its residential mortgage range.
The latest Finance and Property News2

Pepper Money has revamped its residential mortgage range by lifting loan-to-value ratios, improving criteria and cutting rates.

The specialist lender has raised the maximum LTV on its Pepper 18 and Pepper 12 products to 85% and increased the maximum LTV on Pepper 6 to 80%. These products are available to customers who have not had a county court judgement or default in 18, 12, or 6 months, respectively.

The firm has also boosted its criteria to include variable income as part of its affordability calculations. It now considers up to 50% of sustained bonus and commission payments and up to 50% of overtime payments.

Finally, the business has cut rates across its Pepper 6 range.

Prices on Pepper 6 Light — available to customers who have not had a default in the last 6 months and have never had a county court judgement — start at 4.90% for a two-year fixed-rate loan and 5.10% for a five-year fixed-rate deal to 70% LTV.

On Pepper 6, rates start at 4.95% for a two-year fixed-rate mortgage and up to 5.15% for a five-year fixed-rate offer up to 70% LTV.

Pepper Money sales director Paul Adams says: “These are significant enhancements to our proposition that will make Pepper Money mortgages more accessible to an even wider group of customers.

“We have taken on feedback from our intermediaries and amended key criteria, such as increasing LTVs for customers with recent adverse credit, reintroducing the acceptance of variable income, which had been suspended due to the pandemic.

“Thanks to our simpler tiers and transparent products, it’s never been easier for a broker to identify the most suitable Pepper Money mortgage for their clients.”

Original Article from Mortgage Strategy 12/10/21

Get In touch

Leave this field blank
Mobile / Home Number
Please choose the closest match to your Mortgage Needs
  • Choose
  • First Time Buyer
  • Help To Buy
  • Homemover
  • Remortgage
  • Buy to Let
  • Equity Release
  • Insurance
  • Home Utilities
  • Nothing found
Essex Home Finance

(01245) 398466

Call Anytime

Address : 8 Kingsdale Business Centre, Regina Road, Chelsmford, Essex, CM1 1PE

Essex Home Finance Ltd is an Appointed Representative of Mortgage Intelligence Ltd which is authorised and regulated by the Financial Conduct Authority under number 305330 in respect of mortgage, insurance and consumer credit mediation activities only.

Registered address: 1 High Street, Chelmsford, Essex, CM1 1BE.

Registered in England & Wales under number 10607263.

Your home may be repossessed if you do not keep up repayments on your mortgage.

We do not charge for Residential First Time Buyers, Residential Home Movers, Residential Remortgage, and all Product Transfers (Residential or Buy to Let).

There will be a fee for all Buy to Let Purchase and Buy to Let Remortgage cases. Typically our fee will be £149, payable on Offer. We will agree any fees with you before we proceed with your case.

There will be a fee for all Equity Release Mortgage cases. Typically our fee will be £695, payable on Offer. We will agree any fees with you before we proceed with your case.

We always aim to provide a high quality service to our customers. However, if you encounter any problems and we are unable to resolve them you can take your complaint to an independent Ombudsman. 

Our advice is covered under the Financial Ombudsman Service.  You may be able to submit a claim through the  EU Online Dispute Resolution Platform If you live outside the United Kingdom or if you prefer not to deal directly with the Financial Ombudsman Service.