Pepper Money has cut rates by on a number of its buy to let products.

Rates have been cut by up to 31 basis points with the lender also introducing new fee options, enabling customers to lower upfront costs.

It says these changes are designed to appeal to landlords looking to purchase property during the current stamp duty holiday, due to end in March 2021. 

Changes have been made to Pepper’s 48 Light range, with its five-year fixed rates (at 80 per cent LTV) reduced by 30 basis points, to 4.6 per cent. 

At 75 per cent LTV these five-year fixes have been reduced to 3.65 per cent. Customer can opt to pay a lower rate with a 1.5 per cent fee. Rates start from 3.6 per cent at 70 per cent LTV. 

On its Pepper 48 range it has cut 5-year fixed rates (up to 80 per cent LTV) by 31bps to 4.99 per cent, and made reductions at 75 per cent LTV and 70 per cent. Again customers also have the option to pay a reduced rate with a 1.5 per cent fee.

Pepper Money sales director Paul Adams says: “One of the positive trends we’ve seen this year is the resurgence of buy to let, with existing landlords looking to grow their portfolios and new investors coming to the market.”

As a result the lender says it is looking to deliver competitive products in this sector.