Pepper Money overhauls entire product range
By Sam MonkPepper Money has made several enhancements and added a number of new products as part of an overhaul of its entire product range
The specialist lender has launched limited company BTL, which includes a range of two- and five-year fixed rate BTL mortgages, with free valuations for purchases and remortgages.
The new range features a rental calculation of 125% at the pay rate on five-year fixed rates and the higher of the initial rate +2% or 5.5% on two-year fixed rates.
Other changes included:
- launching free valuations on standard BTL range, reducing rates on its Pepper 48, Pepper 36 and Pepper 24 products and changing the required rental calculation on two-year fixed rates to the higher of the initial rate +2% or 5.5%
- new free valuation products on its residential range for purchases and remortgages and reducing rates across its core range
- introduced a new reference rate to replace Libor, while all new DIP decisions will reference the Lender Managed Rate (LMR)
- several other pricing changes across the range
“We have conducted in-depth analysis of the market and how our products can best meet the needs of brokers and their clients, and implemented the recommendations right across our range,” said Paul Adams, sales director at Pepper Money (pictured above).
Keywords: Pepper Money, specialist lender, residential finance, financial services, specialist lending sector, lenders, reduced product rates, financial product launches, BTL, buy to let, BTL sector, property finance