Pepper Advantage Pepper Advantage (LVR >85% up to 90%)
8.10%p.a Standard Variable
About Pepper Home Loans
Repayments calculated to take into account ongoing monthly and anual fees.
- Monthly repayment*
- rate per annum
Loan to Value Ratio
Borrow up to the maxium of 90% of the value of the property.
Lenders Mortgage Insurance, or LMI, will be payable on most loans where the borrowings are greater than 80% of the value of the property.
However, you may be able to capitalise LMI into your loan, increasing the overall loan amount by about 2% (in order to cover the cost of the insurance). Contact a loan market broker to find out how LVR and LMI might impact the cost of your loan repayments.
- Capitalise LMI
For ["Investment", "Owner Occupied"], in ["NSW", "NT", "QLD", "SA", "WA", "VIC", "TAS", "ACT"].
- 10 - 40 years
The level of financial documentaion and credit history required to apply for the loan.
- Full Doc
- Credit History
- Non Conforming
- Genuine Saving
- Not Required
Save on interest repayments by holding spare cash in an offset account.
- Offset account
Get quick access to cash by drawing on the loan to pay for renovations or other purchases.
- Redraw Facility
- Min Redraw
- Redraw fee
Given the wide range of loans on offer – with different interest rates, product features and fees – it pays to shop around to find the loan that fits your needs and circumstances. Some loans offer features that may be appropriate for your situation and result in savings over the life of the loan.
Some features you may wish to consider include:
- an offset account;
- ability to make extra repayments;
- a redraw facility; and
- linked credit card and savings accounts;
- ability to split your loan between fixed and variable interest rates
- Offset Account
- Redraw Available
- Credit Card
- Internet Banking
- Telephone Banking
- BPay Option
- Portability of Loan
- Professional Pack
- Check Account
- Direct Salary Credit
- Free Transactions
- Minimum Redraw
- Redraw Fee
You can make your repaments Fortnightly, Monthly, and Weekly.
- Interest Only Option
- Max Interest Only
- 5 years
Upfront fess associated with estabilishing the loan. Other loan set-up fees, such as valuation fees and lender's mortgage insurance, and Government charges, such as registration fees and stamp duty on property transfer, have not been included. These will be determined after application.
Monthly and annual fees and charges during the loan period.
- Ongoing Monthly
Fees associated with prematurely ending the loan.
- Early Repayment
- Switch To Fixed
Pepper Easy is a near prime loan designed for a broad range of applicants that have 24 months clean credit history, and a proven track record of responsibly managing their debts. This product is also available as an alt doc Loan for self-employed borrowers or small business owners who have been in business for a minimum of 2 years. The Pepper Easy home loan is ideal for customers looking to buy or refinance their home or investment property and obtain cash out at the same time for renovations, business use or payout of ATO debt. Key Benefits: - No LMI required. - Unlimited number of defaults, judgements or writs registered over 24 months prior to application accepted (paid or unpaid). No limit on the number of debts that can be consolidated. - Available for refinance, including Non-Conforming, Private and Solicitor Loans. - Cash out up to 90% LVR for acceptable purposes including renovations and business use for full doc and 80% alt doc. Credit History: Any number of defaults or judgements registered >24 months prior to application, paid or unpaid. Minor defaults up to $1,000 ignored. Discharged from bankruptcy (1 day accepted) Loan Purpose: Purchase or refinance of owner occupied and investment properties. Finance also available for a variety of purposes, including payment of ATO debts and purchase of business equipment Income Documentation (Full Doc): PAYG: Last 2 pay slips plus either a letter of employment, latest group certificate, notice of assessment or 3 months bank statements Self-Employed: Last 2 years tax returns plus last 2 years tax assessment notices. Acceptable Securities: Vacant Residential Land only in categories 1 and 2 with a maximum size of 2.5 acres (max 85% LVR and max loan size of $650,000). Vacant land: on Pepper Essential and Pepper Easy only for residential properties in categories 1 and 2 to a maximum land size of 2.5 acres. The Pepper Essential Plus product is a basic no frills home loan with a low variable interest rate. It is suitable for borrowers who want the flexibility to make extra repayments whenever they want, and then redraw those available funds using internet or phone banking. Purchase or refinance of owner occupied or investment properties; also includes: - Debt consolidation (max of 4 debts) - Cash out up to 90% LVR (not available for business use). Credit History: Non-financial paid defaults up to $500 considered (e.g. Telco). Income Documentation (PAYG): - Last 2 pay slips (plus one of the following): Letter of employment, tax assessment notice, latest group certificate or 3 months bank statements. Income Documentation - Last 2 years tax returns - Last 2 years tax assessment notices Acceptable Securities: - Residential securities in categories 1 - 4 with a maximum land size of 25 acres (10 hectares). Refer to Peppers Postcode Search for category lending limits. - Vacant land up to 2.5 acres (residential only in categories 1 & 2) Repayment Options: - Interest Only (maximum 5 years) - Principal and Interest. Interest Only is limited on owner occupied properties to 50% of total loan limit. Redraw: - Minimum manual redraw amount is $1,000 - Minimum online redraw is $50. Maximum of four splits. Free additional payments are allowed. Fee Capitalisation Not available. Transaction Facilities: Access your funds via: - Telephone and internet banking - BPAY Minimum Manual Redraw is $1000. Minimum online redraw is $77 Evidence of rental payments: Evidence of rental payments for borrowers who are renting at application are NO longer required on Prime and Non Prime Units High Density rules apply Statutory Declarations: NOT required from borrowers to confirm reason for cash out or to confirm details of gift from a parent. A letter from the borrowers is sufficient --- The Pepper Essential product is a basic no frills home loan with a low variable interest rate. It is suitable for borrowers who want the flexibility to make extra repayments whenever they want, and then redraw those available funds using internet or phone banking. Purchase or refinance of owner occupied or investment properties; also includes: - Debt consolidation (max of 4 debts) - Credit History: Non-financial paid defaults up to $500 considered (e.g. Telco). Income Documentation (PAYG): - Last 2 pay slips (plus one of the following): - Letter of employment, tax assessment notice, latest group certificate or 3 months bank statements. Acceptable Securities: - Residential securities in categories 1 - 4 with a maximum land size of 25 acres (10 hectares). Refer to Peppers Postcode Search for category lending limits. - Vacant land up to 2.5 acres (residential only in categories 1 & 2) Repayment Options: - Principal and Interest - Interest Only is limited on owner occupied properties to 50% of total loan limit Redraw: - Minimum manual redraw amount is $1,000 - Minimum online redraw is $50. Maximum of four splits. -
Cash Out Policy: 0-90% LVR NO LIMITS
The following fees are applicable: Establishment $955 (inc 1 std valuation); Title Protection $400; Legal fees $440. Mortgage Risk Fee: 0.50% MRF loading will apply for loan amounts > $1m LVR: 0.50% <55% LVR: 0.50% >55% up to 65% LVR: 1.00% >65% up to 70% LVR: 1.25% >70% up to 75% LVR: 1.50% >75% up to 80% LVR: 2.00% >80% up to 85% LVR: 2.00% >85% up to 90%