The specialist lender has made the change in response to the continued falls in SWAP rates and reduction in funding costs, as well as the Bank of England Base Rate cut last week.
The specialist lender has cut the rate of all mortgage products by 0.2 percentage points.
Limited edition rates reduced
Pepper Money has also reduced the cost of products on its Limited Edition remortgage only offer, which has been designed to give customers the reassurance of manual underwriting that doesn’t cost a penny until completion, with rates from 5.69%. The products also come with free valuations.
Paul Adams, sales director at Pepper Money, said: “At Pepper Money, we’re always exploring ways to deliver the best possible outcomes for our customers. Following the recent Bank of England Base Rate decision, we’ve moved quickly to pass on the subsequent reduction in SWAP rates, cutting the price of every mortgage in our range by 20 basis points.
“These lower rates also apply to our Limited Edition remortgage products, which feature no upfront fees and free valuations. This Limited Edition provides a valuable solution for just-off-high-street customers – offering them certainty and affordability without the burden of upfront costs.”
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