A specialist lender has dropped rates for the second time in two months.
Pepper has announced it will cut rates across its product suite by up to 65bps. The move takes rates on its Pepper Flexi Advantage product to 7.89% with an LVR up to 55%.
The move comes as the lender has made plays for prime lending business. Pepper last month launched a near prime product, and last week announced it would acquire GE Capital's Irish mortgage portfolio. The company also acquired a $150m auto and equipment finance portfolio from Suncorp.
Pepper director of sales and distribution Mario Rehayem said the lender's rate cuts will provide a more compelling proposition for brokers.
Pepper always looks to provide solutions for brokers and their clients, and reduced interest rates will help ensure our products stay competitive," he said.
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