Pepper cuts shorter residential fixes by up to 0.95%

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Pepper Homeloans has cut its shorter term fixed rates by up to 0.95 per cent on its core residential mortgage range.

The lender’s ‘NP’ rates now start from 2.28 per cent for a two-year fixed rate.

Loans are available up to 85 per cent LTV and free legals are available on all remortgages

The lender has also extended the range to include a new product, with rates starting from 2.28 per cent.

The new loan is aimed at borrowers with marginal high street credit score fails.

It accommodates applicants with no CCJs or defaults in the last 48 months.

Pepper Homeloans sales director Rob Barnard says: “Adverse credit records remain on file for 72 months, despite the fact that borrowers may have conducted their finances in an exemplary fashion in recent years.

“Our NP range means that such borrowers now have access to competitively priced mortgage finance and can benefit from rates starting from just 2.28 per cent.”

Pepper manually underwrites each case and does not use credit scoring.