Pepper Money Essential

Our most popular mortgage, Pepper Essential, has been specially designed for PAYE workers. What’s great about Essential is the fact that you can use it to buy your main home or an investment property or even when you want to switch lenders and stay where you are.

Mortgage interest rates

We offer a range of both fixed and variable rates.  Deciding which type of rate suits you best is an important decision and we always suggest you speak to a member of our lending team who will be able to explain your options to you in as much detail as you need.

In general terms, the rates available to you with Pepper Money are determined by your employment status (i.e. whether you are a PAYE worker or self-employed), your loan to value (the amount you want to borrow as a percentage of the value of the property), your previous credit history and whether the property is your main home.

Variable rates, as the name suggests, are subject to change, meaning the interest rate and your monthly repayment can go up or down subject to a variety of factors.    With a fixed rate, your interest rate and your repayment are fixed and will not change over the time period you choose.  At the end of the fixed rate period, you may be able to select a new fixed rate or switch to the relevant variable rate at that time.  If you would like to speak to us about our rates, please click here.

 

Variable interest rates – new and existing customers

For your main home
Loan to Value (LTV) Loan to Value Rate APRC* Annual Percentage Rate of Charge is the yearly interest that includes fees and costs paid to obtain the loan.
< 50% 3.10% 3.17%
< 60% 3.25% 3.32%
< 70% 3.30% 3.37%
< 80% 3.60% 3.68%
< 90% 3.90% 3.99%
For buy to let properties
Loan to Value (LTV) Loan to Value Rate
Capital & Interest
APRC* Annual Percentage Rate of Charge is the yearly interest that includes fees and costs paid to obtain the loan. Rate Interest only** APRC* Annual Percentage Rate of Charge is the yearly interest that includes fees and costs paid to obtain the loan.
< 50% 4.40% 4.77% 4.50% 4.87%
< 60% 4.75% 5.13% 4.85% 5.24%
< 70% 4.75% 5.13% 4.85% 5.24%
< 80% 4.80% 5.19% 4.90% 5.29%

*APRC = Annual Percentage Rate of Charge
**An interest-only period  is available for the first 5 years of the loan

 

Variable interest rates – new customers

For buy to let properties
Loan to Value (LTV) Loan to Value Rate APRC* Annual Percentage Rate of Charge is the yearly interest that includes fees and costs paid to obtain the loan.
< 60% 3.50% 3.64%
  • Applications on capital & interest basis only
  • Applicants must be in receipt of a formal loan offer by August 31st 2018

 

Fixed interest rates – new customers

3 Year Fixed Rates

For your main home
Loan to Value (LTV) Loan to Value Rate APRC* Annual Percentage Rate of Charge is the yearly interest that includes fees and costs paid to obtain the loan.
< 50% 3.20% 3.20%
< 60% 3.20% 3.31%
< 70% 3.20% 3.34%
< 80% 3.20% 3.56%
< 90% 3.35% 3.82%

 5 Year Fixed Rates

For your main home
Loan to Value (LTV) Loan to Value Rate APRC* Annual Percentage Rate of Charge is the yearly interest that includes fees and costs paid to obtain the loan.
< 50% 3.45% 3.34%
< 60% 3.45% 3.42%
< 70% 3.50% 3.47%
< 80% 3.50% 3.63%
< 90% 3.55% 3.82%

*APRC = Annual Percentage Rate of Charge

 

 

Fixed interest rates – existing customers

3 Year Fixed Rates

For your main home
Loan to Value (LTV) Loan to Value Rate APRC* Annual Percentage Rate of Charge is the yearly interest that includes fees and costs paid to obtain the loan.
< 50% 3.30% 3.23%
< 60% 3.45% 3.38%
< 70% 3.50% 3.43%
< 80% 3.80% 3.75%
< 90% 4.10% 4.06%

 5 Year Fixed Rates

For your main home
Loan to Value (LTV) Loan to Value Rate APRC* Annual Percentage Rate of Charge is the yearly interest that includes fees and costs paid to obtain the loan.
< 50% 3.45% 3.34%
< 60% 3.50% 3.44%
< 70% 3.55% 3.49%
< 80% 3.80% 3.78%
< 90% 4.15% 4.12%

*APRC = Annual Percentage Rate of Charge

 

 

Regulatory Notices

Where a variable interest rate applies to the loan:
Warning: The cost of your monthly repayments may increase.

Where a fixed interest rate applies to the loan:
Warning: You may have to pay charges if you pay off a fixed-rate loan early.

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Let’s talk mortgages

Would you like to talk to a Lending Specialist about buying a home? One-on-one help is just a click away.
The Lender is Pepper Money. Lending criteria and terms and conditions apply. Monthly repayments for a typical mortgage of €100,000 over 20 years (240 instalments) at the current Variable Rate of 3.60% is €585.11. A 1% interest rate rise would increase monthly repayments by €49.21 per month. The Annual Percentage Rate of Charge (APRC), based on a rate of 3.60% variable will be 3.75% and includes a €150 Valuation Fee, a Mortgage Charge of €175 paid to the Property Registration Authority and an Arrangement Fee (based on 0.5% of the mortgage loan amount up to a maximum of €1,800) as detailed as part of mortgage loan application process. Additional fees may apply on a case by case basis. The amount you pay is €142,410.60. We require life and property insurance. You mortgage your home to secure the loan. Maximum loan is generally 3.5 times gross annual income and 80% of the property value (90% of the property value for First Time Buyers). The cost of your monthly repayments may increase.