Pepper Money cuts rates to aid adverse credit borrowers

The study also found that 30% of individuals with adverse credit are grappling with outstanding debts exceeding £5,000, excluding mortgage and student loans. Additionally, nearly one in 10, or 9%, of the respondents find themselves burdened with debts over £15,000.

Aside from those with adverse credit, the changes are also expected to appeal to the self-employed and first-time buyers.

“Following the recent election results and favourable movements in swaps, we’re reducing our rates again to pass this on to customers as quickly as possible,” said Paul Adams (pictured), sales director at Pepper Money.

Adams noted that the rate reductions bring optimism and increased market activity for both broker partners and Pepper Money. He assured brokers that transparency and efficiency would remain priorities as market demand grows.

Pepper Money was recently named the top specialist lender and the highest-ranked lender overall in the latest Mortgage Lender Benchmark survey by Smart Money People. The company plans to support the new, lower rates with continued dedication to award-winning service delivery.