"Swap rates have been rising in recent weeks and we have held off responding to these changes for as long as possible, but it’s now necessary to increase rates across our range."
- Paul Adams, sales director at Pepper Money
Pepper Money has increased rates by up to 0.25% across its product range in response to rising swap rates.
The specialist lender provided brokers with 48 hours’ notice ahead of the withdrawal of its previous pricing.
As part of the new product release, Pepper Money has added free valuations to its retention range. These products are in addition to its product transfer offering and give customers whose deal has expired the opportunity to apply for a new rate or make further changes to their current mortgage, such as additional borrowing or changing the mortgage term.
Paul Adams, sales director at Pepper Money, said: “Swap rates have been rising in recent weeks and we have held off responding to these changes for as long as possible, but it’s now necessary to increase rates across our range.
“As you would expect from Pepper, we have made sure to give brokers a full 48 hours’ notice ahead of the withdrawal of our previous rates so that they are best placed to offer customers with certainty. And, while our rates have changed, our inclusive criteria and excellent service remain. Our award-winning proposition empowers brokers to help customers with a range of circumstances, including recent credit blips, a DMP as recent as 12 months ago, or defaults and CCJs registered as recently as 6 months ago.”
