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Pepper Money has revamped its buy to let mortgage range by reducing rates and cutting completion fees.
Pepper Money has reduced rates by up to 0.60 per cent on 20 products and cutting completion rates on all two-year fixed rates from 2 per cent to 1 per cent.
The largest reduction made by Pepper Money is 0.60 percentage points on a five-year fixed rate up to 80 per cent LTV on the Pepper 24 range. This range is available to landlords who have not registered a CCJ or Default in the last 24 months.
Rates are now available from 2.95 per cent, for a two-year fixed rate up to 70 per cent LTV as part of the Pepper 48 range. This range is available for landlords who have not registered a CCJ or Default in the last 48 months.
For landlords who have not registered a CCJ or Default throughout the last 36 months, rates start at 2.98 per cent for a two-year fixed rate up to 70 per cent LTV.
All lending decisions for Pepper Money are to be made by mandated underwriters as opposed to credit scoring. The whole range has been made available to portfolio landlrods as well as those who have fewer than four mortgaged buy to let properties
Sales director at Pepper Money, Rob Barnard, spoke out about the changes to pricing in the range: ‘The dual impact of new regulation and tax rules mean that life is now a little more complex for every buy to let landlord. At Pepper, we thrive on complex situations, with skilled underwriters who can unravel an interesting case and deliver a cost-effective solution. This revamp to our buy to let range makes it even easier for landlords, including portfolio landlords, to achieve an attractive rate and fee, even if they don’t fit the mould of a high street lender.’