Pepper Money has reduced rates on its buy-to-let range by up to 0.60% on 20 products and slashed completion fees on all 2-year fixed rates from 2% to 1%.
The biggest reduction is 0.60%, on a 5-year fixed rate up to 80% LTV on the Pepper 24 range, which now stands at 3.88%. This is available to landlords who have not registered a CCJ or default in the last 24 months.
Rates are now available from 2.95%, for a 2-year fixed rate up to 70% LTV on the Pepper 48 range, for landlords who have not registered a CCJ or default in the last 48 months.
For landlords who have not registered a CCJ or default in the last 36 months, rates start at 2.98% for a 2-year fixed rate up to 70% LTV.
Chris Barker, founder and director of Manchester Money, said: “For an 80% product it’s quite attractive. Only a handful of lenders get involved at 80%. It’s quite a competitive rate.
“Precise and Paragon are slightly cheaper but it’s quite an attractive deal up there with other lenders offering similar deals. I think Pepper is good for clients that may have had credit issues in the past and these deals look attractive.”
Rob Barnard (pictured), sales director at Pepper Money, said: “The dual impact of new regulation and tax rules mean that life is now a little more complex for every buy-to-let landlord.
“At Pepper, we thrive on complex situations, with skilled underwriters who can unravel an interesting case and deliver a cost-effective solution.
“This revamp to our buy-to-let range makes it even easier for landlords, including portfolio landlords, to achieve an attractive rate and fee, even if they don’t fit the mould of a high street lender.”