The specialist lender has bumped up rates across its residential fixed-rate range by an average of 0.64 percentage points, as a result of the rising rate environment.

Full details of the product range are available at Pepper Money, a part of the Pepper Group.

Brokers who already have a DIP on Pepper Money’s old range have seven days to submit a full mortgage application to secure the rate.

Paul Adams, sales director at Pepper Money (pictured above), said: “It’s no secret that rates are increasing across the market, and may continue to rise.

“In this environment, it’s important that customers are able to apply for and secure existing rates quickly, before they increase in line with expectations.

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“So now, perhaps more than ever before, service and turnaround are key considerations for brokers in choosing a lender."

Paul added the company seeks to appraise all documents and complete an underwriting estimate within 24 hours.

This allows Pepper Money to provide certainty swiftly.

In addition, Paul said brokers’ calls are usually answered within a minute, and the dedicated case owners that are made available from application to offer ensure dependability, clarity, and direct contact during the application process.

“With this approach, we are able to continue to provide competitive solutions for customers whose circumstances leave them overlooked by high-street lenders and can be let down by the slow turnaround times that are currently impacting some specialist lenders,” said Paul.