Pepper Money Launches Summer Special to Support Increasing Number of Near-Prime Borrowers

• New five-year fixed rate at 75% LTV to meet rising demand from borrowers excluded by traditional high street lending, despite being fully capable of borrowing responsibly

• 40% of Pepper’s new business now comes from customers without a CCJ or Default

• Rates on the special edition start from 5.14% on five-year fixed rates up to 75% LTV

• Five-year fixed products have seen a 79% increase, with customers seeking longer-term certainty

Specialist lender Pepper Money has unveiled a summer special limited edition mortgage product under its Pepper48 residential tier. The offer is priced 0.20% lower than its core range and is available as a five-year fixed rate at 75% loan-to-value (LTV). Rates now start from just 5.14%, with the added benefit of free legals, a free valuation, or a £0 completion fee—offering flexible options to cater to a wide range of customer circumstances.

Pepper48 is tailored for individuals who fall outside the traditional credit scoring criteria used by high street lenders, and is available for both purchases and remortgages. This latest initiative aims to support the growing cohort of borrowers considered “just-off-high-street,” who may have slightly more complex borrowing needs. The offer provides greater value and long-term certainty in a market still marked by economic volatility and shifting customer requirements.

Pepper Money has had a standout year, with overall completion volumes rising by 67% year-on-year. Demand for five-year fixed products has surged by 79%, as more customers seek longer-term certainty amid persistent interest rate pressures. Today, five-year terms account for 70% of all completions at Pepper Money, highlighting a clear shift in borrower priorities.

The profile of Pepper Money’s customer base is also evolving. 40% of new business now comes from customers without a CCJ or Default, up from 33% last year. The continued demand for products of this nature signals a growing cohort of creditworthy borrowers who are being overlooked by traditional lenders.

Paul Adams, Sales Director at Pepper Money, comments: “We know brokers are always looking for more ways to offer value to their customers, and this summer our pricing changes provide both stability and value. Our refreshed five-year fixed rate is designed to support customers who may not tick every high street box but are financially responsible and ready to take their next step. Just because a person has complex income sources such as multiple jobs, self-employment, or a history of financial challenges, it doesn’t mean they should be excluded from entering the housing market or refinancing, especially when they have demonstrated a sustained period of financial stability.

“With demand for longer-term fixes continuing to rise, this is a great opportunity for brokers to offer something different to their customers, while also benefiting from Pepper’s high-quality service.”

For more information on Pepper Money’s mortgage products, visit www.pepper.money