According to the lender, the new product will be 2.98% fixed for 5-years (reverting to Libor + 4%), max LTV: 75% on loans between £25,001 and £1m.
Rob Barnard, Sales Director of Pepper Homeloans, said: “Our research indicates that this product will typically appeal to investors who are seeking capital growth over a 5-year period. The pay rate rental calculation also means landlords can borrow more, providing them with a significant benefit.
With a rate of just 2.98%, a minimum loan size of £25,001 and free legals on remortgages, this is a very attractive package which landlords could see as an ideal opportunity to refinance their portfolio.”
