Pepper Money has reduced its buy to let (BTL) mortgage rates by 0.50% across its 70%, 75% and 80% loan-to-value tiers, covering both Pepper 48 and Pepper 36 products.
This includes Houses in Multiple Occupation, and the reductions apply to two- and five-year fixed terms.
The lowest rate now stands at 3.94% on the Pepper 48 Light five-year fixed product at 70% LTV.
Changes span core tiers within Pepper 48 Light and Pepper 36 Light, with 0.50% cuts applied at 70%, 75% and 80% LTV across both term options.
Equivalent pricing adjustments have also been made to HMO products within Pepper 48 Light and Pepper 36 Light at 70% and 75% LTV.
Landlords remortgaging
Following the repricing, the lowest five-year fixed rates include 3.94% at 70% LTV, 4.09% at 75% LTV and 4.84% at 80% LTV under Pepper 48 Light.
Pepper 36 Light equivalents sit at 4.14%, 4.29% and 4.99% respectively. HMO five-year fixed products start from 4.14% at 70% LTV under Pepper 48 Light and 4.34% under Pepper 36 Light.
All single dwelling buy to let remortgages include £350 cashback on completion.
Paul Adams, the lender’s sales director, said: “We’re seeing continued momentum in the remortgage space, and landlords are actively reviewing their funding as fixed rates mature.”
Somo’s new deal gains traction
Somo is reporting strong interest in its landlord’s Breathing Space Loan which was launched last month.
Most of the interest has come from landlords facing immediate refinancing pressure.
Remaining applications relate to compliance works, refurbishment funding or arrears support.
The product provides up to 24 months with no monthly payments alongside rapid capital access.
The lender’s sales director, Jade Keval, said: “The level of interest has been exceptional, and it tells a powerful story about what’s happening in the rental market.
“Landlords aren’t rushing for the exits, they’re looking for time and flexibility while they adjust to reform, refinancing pressure and higher costs.”
NatWest’s BTL deal highlighted
NatWest has secured a Moneyfactscompare.co.uk Pick of the Week following reductions across selected fixed rate BTL mortgages.
One highlighted deal is a five-year fixed buy to let mortgage at 60% LTV, priced at 3.99% until 31 May 2031.
It carries a £995 product fee and free valuation incentive.
Caitlyn Eastell, the platform’s personal finance analyst, said: “On assessment, the move strengthens its appeal and earns an Outstanding Moneyfacts product rating.”
The product is available for house purchase customers across Great Britain and Northern Ireland, includes overpayment flexibility and is distributed as an online exclusive.
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