Pepper Money has cut rates across its entire product range, with reductions of up to 40 bps. The biggest rate reduction is on Pepper36 Light up to 75% LTV, with rates now starting from 5.64%. Other changes include Pepper6 at up o 80% LTV, which has been cut by 25 bps on its two- and five-year fixed rates. The lowest rate on Pepper’s range is now available from 5.34%.

Barclays has announced that it will no longer require a deposit from borrowers purchasing a home under the right to buy (RTB) scheme. Barclays will use the RTB discount in place of a direct deposit, whilst borrowers will also receive the benefit of the reduced rates available for lower LTV mortgages. For example, someone who is receiving a 40% discount on their home under the RTB scheme will be considered to have a 40% deposit, and therefore access to 60% LTV rates. Lending is capped at 90% of the full market value, ensuring responsible borrowing and excludes high-value properties, where a deposit is still required.

Vernon Building Society has launched a new three-year variable rate large loan mortgage. The product offers minimum and maximum loan sizes of £500,000 and £1.8m respectively and is ideal for those seeking larger borrowing options. It is available at an initial rate of 4.99%, which includes a 2.86% discount. It also comes with a product fee of £999 and allows for up to 25% capital repayments each year.

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