Mortgage lender Pepper Money has revamped its pricing, cutting some rates by up to 0.55%.
The biggest reductions are available on Pepper 12 for borrowers who have not registered a CCJ or Default in the last 12 months.
A 5-year fixed rate is now available for 4.63% up to 80% loan-to-value (LTV) – down from 5.18%. For up to 75% LTV, a 5-year fixed rate is now 4.47% and up to 70% LTV is just 4.17%.
Rates have also been cut by up to 0.25% on Pepper 18. The lender now has a 2-year fixed rate on Pepper 48, which is available for 2.37% up to 70% LTV.
As part of the repricing, some rates have increased, reflecting changes to swap rates.
Rob Barnard, sales director at Pepper Money, commented: “With Pepper, what you see is what you get. We don’t use credit scores to determine pricing, so you can be sure that, assuming all details are correct, the rate you recommend to your client is the rate they will be offered.”
“As part of this, we regularly review our pricing to ensure that it reflects the funding environment, risk profile of the product and our appetite to be amongst the most competitive lenders in our market.”
He added: “With this in mind, we are really pleased that we have been able to make such significant reductions to some of our rates.”