Pepper cuts product range

Low doc mortgage provider Pepper Homeloans has adjusted to the tougher credit conditions by dropping its lowest margin loan options and making it harder to qualify for a loan. Pepper said that it will no longer offer its Xpress, Mega Express, and 12 month discounted honeymoon rate loans, while at the same time decrease the maximum loan-to-value ratio it would be willing to lend from 90 to 85 per cent. Pepper is the third largest low-doc lender after Liberty Financial and Bluestone.