Pepper launches 5-year fixes

John Hewitt Jones

October 5, 2016

Pepper Homeloans has launched a range of 5-year fixed rate residential mortgages for borrowers with blips on their credit rating acquired within the last two years.

The 5-year fixed rates start from 4.13% and are available from up to 85% LTV. Early repayment charges on the loans are 3% and 2% from years one to three and 0.5% in years four and five.

Pepper is offering free legals on remortgages and each loan has a fixed fee of £1495.

Jeff Knight, head of marketing at Pepper, said: “We believe these 5-year fixed rates are uniquely positioned in the market. The rates are the same rates as our equivalent 2-year fixes and the reducing ERCs provide greater flexibility for the borrower”.

“These additions to our product range will provide greater choice to borrowers at a time when, according to our research, intermediaries are experiencing an increase in enquiries from clients with previous blips on their credit ratings.”

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