Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.
Pepper Money Cuts Rates by 0.2% Across All Mortgage Products
Pepper Money has announced a 0.2% reduction in rates across its entire mortgage product range, according to a report by Mortgage Solutions. The changes apply to residential, buy-to-let (BTL), and affordable homeownership mortgages.
The lender’s limited-edition Pepper 48 Light rates at 85% loan to value (LTV) now start from 5.79%. Residential rates up to 75% LTV begin at 5.55%, while BTL rates up to 70% LTV start from 4.44%. Shared ownership rates up to 95% loan to share value (LSV) now start from 5.9%.
Pepper Money stated that these reductions are intended to help brokers support more customers with complex circumstances and to improve access to mortgage options for borrowers who may be under-served by high street lenders.
For UK letting agents and inventory clerks, the reduction in BTL rates may be of particular interest, as it could impact landlord financing options and the wider rental market.
Source: Mortgage Solutions