"The pay rate rental calculation also means landlords can borrow more, providing them with a significant benefit."
The rate is available up to 75% LTV on a rental calculation of 140% x pay rate on Pepper NP1 products only (no CCJs or missed payments in the past 36 months and no arrears in the past 6 months).
The product comes with a completion fee of 1.75% and free legals on all remortgages.
Rob Barnard, Sales Director of Pepper Homeloans, said: “Our research indicates that this product will typically appeal to investors who are seeking capital growth over a five-year period. The pay rate rental calculation also means landlords can borrow more, providing them with a significant benefit.
“With a rate of just 2.98%, a minimum loan size of £25,001 and free legals on remortgages, this is a very attractive package which landlords could see as an ideal opportunity to refinance their portfolio.”
