Pepper Money
will be implementing a product update overnight. We communicated the withdrawal of our current range to brokers yesterday and the cut off for DIPs is 5pm today. The FMA cut off is by midnight on Monday 5th June.
What’s changing:
We’ve repriced our entire range with Residential rates starting from 6.74%, Shared Ownership rates starting from 8.19%, Help to Buy rates starting from 8.19% and Right to Buy rates starting from 8.99%.
Why now?
Following our recent product enhancements and rate reductions, we need to make further changes across our entire range because of movements in the macro environment.
With the recent changes in the swap markets, we’re increasing our rates to align with market volatility and competitor movements. These changes have been put in place due to market fluctuations last week but with the intention being a short-term adjustment until we see greater stability in the swap rate market.
On more positive news, our range remains the same with no changes made to our product offering.
When did we communicate these changes?
Launch communications were sent out Today at 10am.