Pepper Money, has announced a summer special limited edition product on its Pepper48 residential mortgage tier, which is 0.20% lower than its core range, available on a five-year fixed product at 75% loan-to-value (LTV. Rates now start from just 5.14% with free legals, free valuation or £0 completion fee options available to suit a diverse range of customer needs.
Pepper48 is designed for individuals who don’t fit the credit scoring mould of high street lenders, it is available for those looking to purchase or remortgage. This latest move is designed to support growing numbers of customers who sit just off the high street and may have slightly more complex needs. The decision offers greater value and long-term stability to customers in a market still shaped by economic uncertainty and everchanging borrower needs.
Pepper Money has had a standout year, with overall completion volumes rising by 67% year-on-year. Demand for five-year fixed products has surged by 79%, as more customers seek longer-term certainty amid persistent interest rate pressures. Today, five-year terms account for 70% of all completions at Pepper Money, highlighting a clear shift in borrower priorities.
The profile of Pepper Money’s customer base is also evolving. 40% of new business now comes from customers without a CCJ or Default, up from 33% last year. The continued demand for products of this nature signals a growing cohort of creditworthy borrowers who are being overlooked by traditional lenders.
Paul Adams, Sales Director at Pepper Money, comments: “We know brokers are always looking for more ways to offer value to their customers, and this summer our pricing changes provide both stability and value. Our refreshed five-year fixed rate is designed to support customers who may not tick every high street box but are financially responsible and ready to take their next step. Just because a person has complex income sources such as multiple jobs, self-employment, or a history of financial challenges, it doesn’t mean they should be excluded from entering the housing market or refinancing, especially when they have demonstrated a sustained period of financial stability.
“With demand for longer-term fixes continuing to rise, this is a great opportunity for brokers to offer something different to their customers, while also benefiting from Pepper’s high-quality service.”
