Pepper cuts fixed rates

Jessica Nangle

April 28, 2017

Pepper Homeloans has made cuts to its non-conforming 30 month 2 and 5-year fixed rate residential mortgages.

Changes include cuts up to 0.4% on 2-year fixes now starting from 3.63%, up to 0.3% on 5-year fixes which start from 4.23%, and up to 0.25% on 30-month fixes starting from 3.68%.

Completion fees are also being reduced to £995 for most products.

Pepper Homeloans to become Pepper Money

Non-conforming loans are those which fail to meet bank criteria for funding.

Rob Barnard, sales director of Pepper Homeloans, said: “These cuts will help hard-pressed homeowners make a move up the housing ladder or remortgage onto a more competitive deal.

“All applications are manually underwritten and we don’t use credit scoring, also brokers can submit DIPs and applications online.”

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