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 Reduces Residential and Affordable Housing Mortgage Rates

Pepper Money has announced reductions in mortgage rates across its residential range, including products for shared ownership, Right to Buy, and Help to Buy. The lender has also made significant cuts to its two-year fixed rate mortgages.

Following these changes, Pepper Money's residential mortgage rates up to 75% loan to value (LTV) now start from 5.3%. Shared ownership rates begin at 5.65%, Right to Buy rates start from 6%, and Help to Buy rates from 5.9%, all applicable to loans up to 75% LTV.

According to the lender, these rate reductions are intended to support first-time buyers and those purchasing through affordable homeownership schemes, particularly individuals who may not be served by high street lenders.

The changes come two weeks after Pepper Money's previous round of mortgage rate reductions.

For letting agents and inventory clerks, these adjustments may influence demand for rental properties and homeownership schemes, as more customers could access mortgage products tailored to a wider range of borrowing needs.