Pepper Money launches into limited company buy-to-let
Pepper Money has overhauled its entire range and launched into limited company buy-to-let.
The specialist lender has launched a range of 2 and 5-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 5-year fixed rates and the higher of the initial rate of 2% or 5.50% on 2-year fixed rates.
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.”
In addition, Pepper Money has also launched free valuations on its standard buy-to-let range, reducing rates on its Pepper 48, Pepper 36 and Pepper 24 products.
It has changed the required rental calculation on 2-year fixed rates to the higher of the initial rate 2% or 5.5%.
On its residential range, Pepper Money has launched new free valuation products for purchases and remortgages and reduced 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.