Pepper Money has expanded its product range with the launch of a HTB (help to buy) remortgage to provide refinance opportunities for those who are unable to meet high street criteria.

The new product will allow customers to refinance their HTB mortgage from another lender and pay off part or all of their HTB equity loan.

Customers who repay their total equity loan can choose a mortgage from the lender’s standard residential remortgage range.

The range is suitable for customers who do not meet the credit score requirements in the high street. This could be for reasons including having a thin credit file, missed credit payments, CCJs or a recent change in job or a self-employment status of only one year.

The new remortgage products are available on Pepper48, which is suitable for customers who haven’t had a CCJ or default in the last 48 months.

Pepper Money’s sales director Paul Adams says: “Options can be limited at the end of the initial five-year period when interest becomes payable on the HTB Equity Loan. Particularly for those customers who do not meet the criteria of high street lenders due to their credit profile or the way they earn their income.”

“When we spot an opportunity to provide a fair, affordable solution for underserved customers, we do everything we can to make that solution available to brokers. HTB Remortgage is a great example of this in action, with an accessible option for those homeowners who used the HTB scheme to refinance and build towards their financial future,” Adams adds.