Specialist mortgage lender Pepper Money has unveiled a new suite of no and low early repayment charge (ERC) secured loan products, designed to give homeowners greater flexibility and choice when borrowing against their property.
The latest additions to Pepper Money’s product range reflect its ongoing commitment to support borrowers seeking more tailored and adaptable financial solutions. With interest rate uncertainty and rising pressure on household finances, the enhanced product line-up enables customers to access finance now, while retaining the option to adjust their plans with minimal or no repayment penalties.
Central to the announcement is the introduction of the 5-Year Fixed No ERC option, now available across Pepper’s XLTV (up to 100% LTV) and Plus (up to 80% LTV) ranges. This builds on the lender’s earlier launch of the Prime 5-Year Fixed No ERC product, further broadening its reach across varying borrower profiles.
In addition, Pepper Money has introduced a 5-Year Fixed Low ERC product, with early repayment fees starting from as little as 1% during the fixed rate period. This product is available within the XLTV (100% max LTV), Plus (80% max LTV), and Prime (85% max LTV) tiers, giving brokers and borrowers more tools to structure cost-effective lending solutions that suit current and future financial plans.
The move is particularly timely as speculation continues over the Bank of England’s next interest rate decision. Many homeowners remain on favourable mortgage terms and are reluctant to remortgage altogether. As a result, secured loans have become an increasingly popular way to unlock value without disturbing existing arrangements.
Commenting on the expansion, Ryan McGrath, Director of Secured Loans at Pepper Money, said: “We are always on the lookout for ways we can adapt our product ranges to increase choice and flexibility for our customers and broker partners.
“By expanding our proposition, we can meet the needs of more customers, giving them greater certainty over their financial futures, as well as increased flexibility at a time when monthly affordability can be strained.
“We are proud to lead the secured loans market by providing the best possible options for customers at all stages of their homeownership journeys. While interest rates are edging down, we continue to work with our broker partners to find the right products and best outcomes for as many customers as possible.”
With use cases ranging from home improvements and debt consolidation to funding major life events, secured loans remain an attractive solution for borrowers looking for financial breathing room—especially when paired with low or zero early exit fees. Pepper Money’s latest expansion ensures brokers have even more options to match customers with the right solutions, at the right time.
