Change is in response to rising swap rates
Specialist lender Pepper Money has repriced its range of affordable housing, residential, and buy-to-let mortgages.
The specialist lender has increased rates across its residential fixed rate range by an average of 0.64%. Full details of the product range are available on the website of Pepper Money.
Brokers who have an existing decision in principle on Pepper Money’s old range have seven days to submit a full mortgage application to secure the rate.
The lender said it made the changes in response to rising swap rates.
Paul Adams (pictured), sales director at Pepper Money, stated that as rates are increasing across the market, it is important that customers are able to apply for and secure existing rates quickly, before they increase in line with expectations.
“So now, perhaps more than ever before, service and turnaround are key considerations for brokers in choosing a lender. At Pepper Money, we aim to assess all documents and complete an underwriting assessment within 24 hours. This means we are able to provide certainty quickly,” Adams said.
“All of our broker calls are answered on average in under a minute, and we provide dedicated case owners from application to offer, ensuring consistency, clarity, and the ability to speak directly to them during the application journey.”
Adams added that with this approach, they are able to continue to provide competitive solutions for customers whose circumstances leave them overlooked by high street lenders and can be let down by the slow turnaround times that are currently impacting some specialist lenders.
“Our financially inclusive products combined with our award-winning service provide brokers with the confidence they need in the current environment,” Adams added.