Pepper Money has launched a range of limited edition residential mortgages with reduced fees and a £500 cashback.

The specialist lender says loans are available on its Pepper 48 and Pepper 48 Light Residential range for purchase and remortgage. The range is suitable for customers who have not had a county court judgment or a default in the last 48 months.

The mortgages feature a £500 cashback and reduced completion fees across the range of two-year and five-year fixed-rate offers.

Fees on the two-year fixed-rate loans have been reduced from £1,295 and £995 to £795, while the fee on the five-year fixed-rate deals have been cut from £995 to £795.

Rates on the limited edition product start at 3.30% for a two-year fixed-rate mortgage up to 75% loan to value on Pepper 48 Light, with five-year fixed rates in this category starting at 3.55%.

Pepper Money sales director Paul Adams says: “At Pepper Money, we are continually working with brokers on ways to improve our proposition. One insight to come from this is that the total amount payable over the duration of a fixed-rate period is often the most important consideration for brokers when choosing a specialist lender.

“This limited edition product addresses that point, with lower fees and £500 cashback reducing the total amount payable over the fixed-rate period on our Pepper 48 and Pepper 48 Light mortgages.”