Pepper Money is re-allowing customers to use its mortgages for let-to-buy transactions.
The lender’s buy-to-let mortgages can be used by customers who want to let out their home, rather than sell it when they move, while using Pepper’s residential range to fund the onward purchase.
Pepper Money’s residential mortgages are available up to 85% LTV, with fixed rates starting at 3.25%. Its buy-to-let mortgages are available up to 80% LTV, with rates on its core range starting at 3.20%.
The specialist lender has also recently launched a Limited Edition Pepper 60 product, suitable for customers who haven’t had a CCJ or Default in the last 60 months, with a 5-year fixed rate at 3.18% available up to 75% LTV.
Paul Adams (pictured), sales director at Pepper Money, said: “At Pepper Money, we believe it’s important to give people access to the financial products they need to achieve their goals. Increasingly, customers would rather remortgage their home to let it out rather than sell the property, and let-to-buy provides the flexibility to do just that.
“We can fund the mortgage on the property that is being let out, or the onward purchase, or both. We don’t use credit scores to make our lending decisions, and are consistently able to deliver up-to-date service levels on every application.”