Pepper Money cuts buy-to-let rates
Pepper Money has cut rates on a number of its buy-to-let mortgage products as part of its ongoing commitment to developing and improving its proposition.
With landlords continuing to seek out opportunities ahead of the end of the stamp duty holiday, Pepper Money has reduced buy-to-let rates by up to 31bps and introduced new fee options that enable customers to lower their upfront costs.
The specialist lender has also made cuts on its Pepper 48 Light range. 5-year fixed rates at 80% LTV have been reduced by by 30bps to 4.60%, and at 75% LTV the rate has been cut to 3.65%. There is also the option for customers to pay 4.55% at 80% LTV or 3.60% at 70% LTV with a 1.5% fee.
On its Pepper 48 range up to 80% LTV, Pepper has cut 5-year fixed rates by 31bps to 4.99%, and made reductions at 75% LTV and 70%. Customers also have the option to pay a reduced rate with a 1.5% fee, with rates starting at 3.90% at 70% LTV.
Paul Adams sales director at Pepper Money, 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. We have focused a lot of attention on developing our buy-to-let proposition so that it’s best placed to meet the needs of brokers and customers and, where possible, this also means cutting rates to ensure that we continue to offer competitive options that continue to be supported by first class service levels. This is all part of our ongoing promise to brokers that it’s better with Pepper.”