Pepper Easy Pepper Easy (LVR >75% up to 80%)
5.74%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 80% 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 Construction, Equity, Investment, Owner Occupied, and Vacant Land in NSW, NT, QLD, SA, WA, VIC, TAS, and 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 repayments 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 below notes apply when taking out this loan for construction purposes: Loan Purpose: Purchase of land or property for the primary purpose of constructing a single residential owner occupied property or making structural changes to an existing owner occupied property. Redraw and Offset Sub-Account: Available only post construction at no extra cost Account Splits: Single account only during construction period and up to four splits post construction Lump Sum Payments: Additional payments are allowed during both the construction (IO) phase and the P&I phase Cashout and Debt Consolidation not available on construction loans Max loan term for construction loan is 30 years. Repayment option: Variable interest rate Interest Only (IO) on balance of loan during construction period (maximum of 12 months followed by P&I) Loan converts to principal and interest (P&I) repayments upon completion of construction Max Loan Size for construction loans: $850,000
Cash Out Policy: 0-90% LVR NO LIMITS Vacant Residential Land is now an acceptable security on Pepper Easy - only in categories 1 and 2 with a maximum size of 2.5 acres (max 85% LVR and max loan size of $650,000) LVR notes Fees can be capitalised for construction loans up to 90% LVR
Establishment $955 (inc 1 std valuation) & Title Protection $400 Construction Est Fee $1,200 Legal fees $440. Mortgage Risk Fee: 0.50% MRF loading will apply for loan amounts > $1m Refer to product guide for risk fee rates.