From 3.55% means that will price on a case by case basis.
They have 3 different formulations for 3 different types of customer - so where they will get traction is from those who don't meet the strict criteria of current banks, but are well able to pay. (self employed, contract workers etc) and also those who are on horrendous rates and are locked in to their bank because they had payment issues in the past, but are now back to normal earnings but thier bank won't change their rates.
Essential - about midway rates compoared to main lenders.
Essential plus - close to the higher end of standard rates from other banks, but still not highest
Avantage - equal to the higher end of other banks, but not punitive
There is a 0.5% fee too (max €1800) which is paid to the broker.
Overall, a welcome addition to the market.
from their website
Our product suite is designed to help you quickly identify the best solution for your customer:
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Pepper Essential
Pepper Essential is a product for borrowers seeking a modern alternative for their residential home loan. Our competitive variable rates, personal approach to underwriting and an open dialogue between broker and decision-maker mean that a traditional mortgage is made even easier.
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Pepper Essential Plus
Pepper Essential Plus is a product that caters to borrowers who may not be able to secure a basic residential home loan through a traditional lender because of their non-standard employment type or income source. Whether your customer is self-employed or has non-standard income, Pepper Homeloans can help.
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Pepper Advantage
Pepper Advantage is a product that provides greater flexibility for your customers who may have experienced a historic credit event but whose financial affairs are currently up to date. We assess your customer’s financial circumstances on an individual basis and can quickly establish a true picture of their needs and their ability to service a mortgage.