Pepper Money enhances proposition with new credit and LTV options

20 October 2021

Pepper Money has further enhanced its proposition by introducing a new Residential Pepper 60 remortgage range and LTV option at 55%.

With an increase in customers failing mainstream credit scores as we come out of the pandemic, Pepper Money has introduced the Residential Pepper 60 remortgage range to further support those who haven't had a secured missed payment, CCJ, or Default in 60 months or an unsecured missed payment in the last 12 months. The range is also available to self-employed customers who have 3 years’ trading history.

Pepper Money’s lending decisions are made by skilled underwriters rather than relying on credit scoring, so the customer’s individual circumstances are taken into account. This human approach to underwriting and criteria means Pepper Money can often help with cases that have been turned down elsewhere. For example, unsecured missed payments over 12 months ago are acceptable provided they’ve been brought back up to date.

Pepper Money is launching its new Pepper 60 range, with a new LTV tier up to 55%. A 2-Year Fixed Rate up to 55% LTV on Pepper 60 is available for 1.98%. The range has options up to 85% LTV, with a 2-Year Fixed Rate available for 4.23% and a 5-Year Fixed Rate available for 4.18%. 5-Year Fixed Rates on Pepper 60 are available from 2.80% up to 65% LTV.

Paul Adams, Sales Director at Pepper Money, says: “The introduction of Pepper 60 and a new LTV option at 55% is a further demonstration of Pepper Money’s commitment to improve and expand our proposition to offer a diverse range of options to support our broker partners in helping more customers. The new products enable us to provide some of our lowest ever rates.

“We’re sure they’ll prove extremely popular with remortgage customers, especially when combined with the choice of free standard legals or our cashback offer, which provides £150 cashback towards costs and the choice of solicitor from across our panel.We’re continuing to make it easier for brokers to find the best option for their customers. We believe that our recent improvements are further evidence that brokers looking for a specialist lender with an appetite to lend are better with Pepper.”