The reductions include two-, three- and five-year fixed products including a reduction of up to 0.35% at 85% loan-to-value (LTV).

Several Limited Edition products have also been sharpened, including Pepper48 five-year 75% LTV limited edition (minimum £350k loan size), now starting from 4.79%, and the five-year Pepper48 Limited Edition, reduced to 5.04%.

In addition, free valuations have been introduced across Pepper48 and Pepper36 BTL products.

The change applies to both individual and limited company borrowers.

Pepper Money sales director Paul Adams says: “By reducing pricing across our Pepper48 range and removing valuation costs on Buy to Let products, an area of particular focus for us in 2026, we’re making it easier for advisers to place more cases with confidence.”

Elsewhere, Newcastle for Intermediaries has reduced rates across its retention products.

The lender’s rates are down by up to 0.14%, starting from 3.69% for two-year fixed rates at 70% LTV with a £1,999 fee.

Coventry for intermediaries will also make changes from tomorrow (15 January).

All end dates on residential products for new and existing borrowers have been extended.

In addition, end dates on BTL and limited company BTL products for new and existing borrows have also been extended.

For existing borrowings, BTL and limited company BTL rates have been cut across all fixed deals.

Meanwhile, Nottingham Building Society will lower rates on its residential new business products and extending fixed rate end dates, effective 16 January.

The society has reduced residential fixed rates by up to 0.10% and end dates have been extended.