Pepper Money has revamped its complete range, with new products including the launch of Limited Company buy-to-let.
The specialist lender has launched a range of two and five-year fixed rate buy-to-let mortgages for limited companies including free valuations for purchases and remortgages.
The range comes with a rental calculation of 125% at the pay rate on five-year fixed rates and the higher of the initial rate +2% or 5.50% on two-year fixed rates.
In addition, Pepper Money is also launching free valuations on its standard buy-to-let range, reducing rates on its Pepper 48, Pepper 36 and Pepper 24 products and changing the required rental calculation on two-year fixed rates to the higher of the initial rate +2% or 5.5%.
On its residential range, Pepper Money is launching new free valuation products for purchases and remortgages and reducing rates across its core range.
Ahead of the dissolution of LIBOR in 2022, Pepper Money has also introduced a new reference rate to replace LIBOR and all new DIP decisions will reference the Lender Managed Rate (LMR), as the variable rate of interest to which reversionary rates are linked at the end of an initial product period.
As well as these changes, there have been a number of other pricing changes across the range.
Paul Adams (pictured), sales director at Pepper Money, said: “This new year, it really is a case of out with the old and in with the new at Pepper Money. We have conducted in-depth analysis of the market and how our products can best meet the needs of brokers and their clients, and implemented the recommendations right across our range.
“A headline change is Pepper Money’s launch into limited company buy-to-let, with mortgages that are available up to 80% LTV to investors who are buying or remortgaging in an SPV, from first-time landlords, through to portfolios of up to 16 properties.
“These new year changes are a signal of our intent for 2020 as we intend to continue increasing our lending, work with more brokers, and help more customers achieve their objectives.”