Pepper Money has cut rates across its two- and five-year fixed-rate residential range by as much as 90 basis points, as well as launching a 70% loan-to-value tier on Pepper 36 products, starting at 6.75%.  

The specialist lender says that highlights of these reductions include its Pepper 18 and Pepper 18 Light five-year fixed rates, which have both cut by 90bps at 85% LTV. The new rates on these offers are 8.25% on Pepper 18 Light and 8.30% on Pepper 18. 

It adds that selected rates that have been reduced 85bps include a two-year fixed-rate loan on Pepper 18 Light at 80% LTV, which is now 8.00%, and the two-year fixed-rate Pepper 18 at 80% LTV, which is now 8.05%. 

A new 70% LTV tier and reduced rates on Pepper 48 for existing customers now start at 6.80% on 70% LTV five-year. 

The firm has also cut its debt management plan range by as much as 30bps. 

Pepper Money sales director Paul Adams says: “At Pepper Money, we understand how difficult recent years have been for brokers, with the impact of the pandemic, many lenders struggling with service, and the rate disruption to the market last year.  

“Throughout, we have maintained our commitment to delivering a range of specialist mortgages to help their customers who don’t meet the criteria of high street lenders.”  

“These rate reductions reflect our growing appetite to increase our lending over the coming months as we build on the rising confidence in the funding markets to help an even greater number of customers achieve their goals.”