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Residential Product Changes from Pepper

28 April 2017

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Today, Friday 28 April, Pepper Homeloans will be making changes to their residential product range. 

A summary of the changes are as follows: 

  • Rate reductions to all NC 2 year and 5 year fixed products
  • Rate changes to all NC 30 month fixed products
  • Completion fee on NC3 2 year and 5 year fixed products reduced to £995 (previously £1,295)
  • Completion fee on ALL 3 year fixed products (both NP & NC) reduced to £995 (previously £1,495) 

All current versions of the above products are to be withdrawn and replaced by the above. Other than the 3 year fixed no NP1 or NP2 products are affected by these changes. There are also no changes to any Buy to Let products. 

Click here to view their product guide for full product details of all new products. 

Don’t Forget the exclusive they also have for credit impaired customers with rates starting at 2.40% 

The new range, which is available for purchases or remortgages up to 85% LTV, is ideally suited to borrowers who may have been declined on credit score, but who haven’t had any CCJs or defaults in the past 48 months. 

Key features of the range are: 

Rates:   2-year fixed:

  • 2.40% to 70% LTV. Revert rate LIBOR+3.50%
  • 2.68% to 75% LTV. Revert rate LIBOR+3.65%
  • 3.28% to 80% LTV. Revert rate LIBOR+3.90%
  • 3.53% to 85% LTV. Revert rate LIBOR+4.15%

Criteria: No CCJs, defaults or mortgage/secured loan missed payments in the last 48 months. 

Purposes: Residential mortgages for purchase or remortgage (with free legals on all remortgages) 

Completion fee: £995 

ERC: 3% of the outstanding balance in year 1, 2% in year 2. 

For further details see your sourcing system, or contact Pepper on 0333 370 1101.

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