Brokers can choose between a lower initial rate with a higher reversion rate, or a higher initial rate with a lower reversion rate.
Both options sit either side of the core range reversion rate.
The lender has also reduced rates across its BTL and limited company BTL ranges, as part of its re-entry into the sector.
Paul Adams, sales director at Pepper Money, said: “Affordability is still one of the biggest challenges brokers are navigating for their customers, especially when rates are moving as quickly as they have been.
“Often, 2-year affordability can be difficult to make work. But at the same time, a lot of customers don’t want to lock in for longer when they’re unsure where rates will go.
“This Limited Edition product gives brokers a way to structure cases that works for the customer today and doesn’t leave them worse off when they come to revert.”
Adams added: “The reductions across our Pepper 48 and Pepper 48 Light ranges reflect our continued focus on giving brokers more choice.
“These are products for customers who are one step away from the high street, and the right rate can make a real difference to whether a case gets done.”
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