Pepper Money cuts rates on selected BTL deals

Thursday 24th May 2018
Emma Simon

Specialist lender Pepper Money has revamped its buy-to-let range, reducing rates by up to 0.6 per cent on 20 products.

In addition, it has also halved its completion fee - from 2 to 1 per cent - on all its two-year fixes.

The biggest cut is to its five-year fix in the Pepper 24 range. Those borrowing up to 80 per cent LTV will now get a rate of 4.18 per cent, a reduction of 0.6 per cent.

The Pepper 24 range is available to landlords who have not registered a CCJ or default in the last 24 months.

For landlords who have not registered a CCJ or default in the last 48 months, rates are now available from 2.95 per cent for a two-year fix up to 70 per cent LTV.

All these buy-to-let mortgage deals are available to portfolio landlords as well as those who have fewer than four mortgaged properties.

Pepper Money's sales director Rob Barnard says: "The dual impact of new regulations and tax rules mean that life is now a little more complex for buy-to-let landlords."

He adds that these changes should reduce rates and fees for landlords who don't meet conventional lending criteria.

Lending decisions at Pepper are made by underwriters, rather than credit scoring.

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