Pepper Money has raised the maximum loan-to-value range available on its mortgages for customers with recent poor credit histories.

The broker-only lender said the maximum LTV on its Pepper 18 mortgage and Pepper 12 product has been increased from 75 per cent to 80 per cent.

It adds that customers with recent “financial blips” can apply to its Pepper 6 mortgage, where the maximum LTV has been lifted from 65 per cent to 75 per cent.

Pepper 18 is available to customers who have experienced defaults, secured missed payments, or CCJs as recently as 18 months ago.

Pepper 12 is available to customers with occurrences of these as recently as 12 months ago, while Pepper 6 applies to customers who have suffered defaults within six months or later.

Each of these ranges also offers an additional Pepper Light product for customers who have experienced defaults or secured missed payments, but have never had a CCJ.

The price of two-year and five-year fixed rates is the same for each of the products, with 80 per cent LTV mortgages on Pepper 18 Light available for 4.90 per cent, and 4.95 per cent on Pepper 18.

The price of an 80 per cent LTV product on Pepper 12 Light is 5.50 per cent and 5.55 per cent on Pepper 12.

The specialist lender adds that on Pepper 6 Light, the rate is 6.40 per cent up to 70 per cent LTV and 6.60 per cent up to 75 per cent LTV.

For Pepper 6, the rate is 6.45 per cent up to 70 per cent LTV and 6.65 per cent up to 75 per cent LTV.

Pepper Money sales director Paul Adams says: “At Pepper Money, we are always working on ways to give greater access to the mortgage market to a wider group of customers.

“Often it’s customers with more recent experiences of adverse credit who struggle to save larger deposits and so, by increasing the maximum LTV on Pepper 6, Pepper 12 and Pepper 18, we are opening up greater opportunities for advisers to help even more customers.”

Earlier this month, Pepper Money repriced its residential and buy-to-let ranges.