Pepper Money cuts all rates by 20 BPS

13 February 2025

Pepper Money has reduced the price of every mortgage product in its range by 20 basis points (bps).

In direct response to the continued gradual reduction in SWAP rates and reduction in funding costs, culminating in the Bank of England Base Rate announcement last week. The specialist lender has cut the rate of all mortgage products by 20bps. Customers could save £2,100 on a 5-year term based upon the new record Halifax Price Index.

Pepper Money has also cut the cost of products on its Limited Edition remortgage only offer, which features no upfront fee on Pepper 48 and Pepper 36 core and Light ranges. The Limited Edition range is designed to give customers the reassurance of manual underwriting that doesn’t cost a penny until completion, with rates now available from 5.69% up to 75% LTV. In addition to zero upfront fees, the products also come with free valuations.

Paul Adams, Sales Director at Pepper Money, says:

“At Pepper Money, we’re always exploring ways to deliver the best possible outcomes for our customers. Following the recent Bank of England Base Rate decision, we’ve moved quickly to pass on the subsequent reduction in SWAP rates, cutting the price of every mortgage in our range by 20bps. These lower rates also apply to our Limited Edition remortgage products, which feature no upfront fees and free valuations. This Limited Edition provides a valuable solution for just-off-high-street customers – offering them certainty and affordability without the burden of upfront costs.”