Pepper Money has launched a range of specialist mortgages for customers buying a home using the Right to Buy scheme.

The mortgages will allow eligible council and housing association tenants in England to buy their home with a discount of up to £96,010 or, if living in London, up to £127,940.

As part of its commitment to help Hopeful Homeowners, Pepper Money has already launched dedicated mortgages to enable customers to buy their own home through Shared Ownership and Help to Buy, as well as a remortgage option for customers with an existing Help to Buy mortgage.

The three five-year fixed rate mortgages are available up to 75% loan to value and are fee-free, with rates starting at 8.4%.

Paul Adams, sales director at Pepper Money, said: “We have a clear purpose to deliver positive societal outcomes and promote greater financial inclusion to a more diverse range of customers. Our Affordable Home Ownership proposition plays an important role in this, and we are committed to helping even more Hopeful Homeowners to achieve their dreams with our launch into Right to Buy.

“The rising cost of living and continued increase in house prices are making it harder for those Hopeful Homeowners to take their first step onto the property ladder and Right to Buy can provide an affordable solution for those customers who have the option to take this route. Our Right to Buy mortgages provide the perfect option for customers whose circumstances mean they are not properly served by the high street because of the way in which they earn their income or their credit history.”