Pepper Money has reduced rates across its residential and affordable home ownership product ranges.

The specialist lender said largest reductions are on its 85% LTV mortgages which could support those with recent credit blips or adverse credit.

It has also cut the price of its Limited Edition three-year fixed rates. It said the cut provide further support for customers in the final steps of repairing their credit.

The lowest rate now available is 6.72% and notable reductions at 85% LTV include its DMP five-year fixed rate which has been reduced by 0.35% and its three-year fixed rate which has been reduced by 0.55%.

Pepper Money’s two-year fixed rate has also been reduced by 0.25% as well as its two-year fixed rate has been reduced by 0.29%.

Pepper Money sales director Paul Adams said: “We’re delighted to be able to cut the rates on more than 300 mortgages, with a particular focus on those customers who have experienced credit problems or have smaller deposits.

“We have no LTV restrictions on capital raising when remortgaging, so brokers are able to consolidate existing debts up to 85%, where some of our biggest rate reductions are, and take advantage of our free legals offering of £350 cashback.

“Our recent affordability enhancements combined with these reductions across our range of products highlights the role we play in helping brokers to help customers fulfil their mortgage ambitions.”