Poll
Lender cuts BTL rates by up to 0.5%
The move comes amid a refresh of the company’s BTL offering, which also saw the introduction of a number of new products.
Key features include the introduction of limited edition two-year fixed rates starting from 3.38% and five-year fixed rates from 4.18% across its near-prime range.
Rob Barnard, sales director of Pepper Homeloans (pictured above), said: “We’re delighted to be making these enhancements to our buy-to-let range.
“Brokers can easily submit a [decision in principle] online and will be assured of a fast response.”
Pepper’s decision follows the Prudential Regulation Authority’s introduction of stricter affordability checks for BTL finance in January.
Earlier this month, a BTL broker claimed that these measures could be driving landlords towards five-year fixed products, after news that two- and three-year fixed BTL rates had dropped to an all-time low.
Pepper is now the latest in a string of BTL lenders who have slashed rates, with Kensington Mortgages and Kent Reliance among those who have made cuts.
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