Pepper Easy Pepper Easy (LVR >80% up to 85%)

  • 6.30%
    p.a Standard Variable
  • 6.40%
    p.a Comparison**
  • $1,835
    Upfront fees
  • $180
    Annual fees
  • 85%
    Max Lvr
  • $2,335
    Per Month*

About Pepper Home Loans

Pepper Group is a diversified, independent global financial services business with specialist experience in core disciplines of lending, advisory and asset management across the residential and commercial property sectors, consumer, auto and equipment finance. As a leading non-bank lender, Pepper Group specialise in flexible loan solutions and individual credit assessment. Their lending capabilities include home loans, car loans, personal loans, SME loans, and commercial loans, chattel mortgages, equipment leases, mezzanine debt and fit-out finance.

Standard Variable

Repayments calculated to take into account ongoing monthly and anual fees.

Monthly repayment*
$2,335
rate per annum
6.30%

Loan to Value Ratio

Borrow up to the maxium of 85% 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.

Lvr
85%
Capitalise LMI
No

Availability

For ["Equity", "Investment", "Owner Occupied"], in ["NSW", "NT", "QLD", "SA", "WA", "VIC", "TAS", "ACT"].

Term
10 - 40 years
Min
$50,000
Max
$1,000,000

Eligibility

The level of financial documentaion and credit history required to apply for the loan.

Financials
Full Doc
Credit History
Non Conforming
Genuine Saving
Not Required

Redraw Facility

Get quick access to cash by drawing on the loan to pay for renovations or other purchases.

Redraw Facility
Yes
Min Redraw
$1000.0
Redraw fee
$0

Banking Features

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
Yes
Redraw Available
Yes
Credit Card
No
Internet Banking
Yes
Telephone Banking
Yes
BPay Option
Yes
Portability of Loan
Yes
Professional Pack
No
Check Account
No
Direct Salary Credit
No
Free Transactions
No
Minimum Redraw
Yes
Redraw Fee
No

Repayments

You can make your repaments Fortnightly, Monthly, and Weekly.

Interest Only Option
Yes
Max Interest Only
5 years

Upfront Fees

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.

Total
$1,835
Establishment
$995
Legal/Solicitor
$440
Settlement
$400

Ongoing Fees

Monthly and annual fees and charges during the loan period.

Total
$180
Ongoing Monthly
$15

Exit Fees

Fees associated with prematurely ending the loan.

Total
$250
Exit
$250
Early Repayment
$0
Switch To Fixed
$0

Notes

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 Alternative Documentation 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 or business use. Key Benefits: - No Lenders Mortgage Insurance (LMI) required. - Unlimited number of defaults, judgements or writs registered over 24 months prior to application accepted (paid or unpaid). - Available for refinance, including Non-Conforming, Private and Solicitor Loans. - Unlimited cash out for stated purposes up to an LVR of 85% 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. 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: Residential securities in major cities and towns up to a maximum land size of 25 acres (10 hectares) Minimum Manual Redraw is $1000. Minimum online redraw is $51 Evidence of rental payments: - Evidence of rental payments for borrowers who are renting at application are NO longer required on Prime and Non Prime - We will no longer accept scenarios where we have a family member using their owner occupied home to raise money for another family member. We will only consider these cases where the security is an investment. Units: - Maximum 75% LVR for units under 12 months old – 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

LVR Notes

Cash Out Policy: 0-85% LVR – NO LIMITS

Fee Notes

Mortgage Risk Fee Promotion until Friday 16th November 2016. 0.25% reduction to all mortgage risk fees on non-conforming products). Please refer to rate sheet for the applicable MRF. Title Protection Fee of $400 shown in Settlement Fee

*Monthly Repayments

Monthly repayments are calculated to take into account the loan amount, repayment term and ongoing fees and charges over the life of the loan.

  • Variable rate loans show the monthly repayments at the current rate.
  • Fixed rate loans show the monthly repayment during the fixed period only.
  • Monthly repayment calculations are an approximate guide only. Speak to a LoanMarket Mortgage broker to understand the exact cost of a loan given your particular circumstances.

**Comparison Rates

A comparison rate is a tool to help consumers identify the true cost of a loan. It factors in the interest rate, loan amount, repayment term and ongoing fees and charges and displays this as a single percentage rate that can be used to compare various loans from different lenders.

Monthly Repayment and Comparison Rate* calculations do not include:

  • The use of account features such as early repayments and offset accounts which vary widely among loans and can reduce the cost of a loan significantly.
  • Cost savings such as fee waivers or special rate discounts.
  • Fees and charges associated with loan options or events that may or may not be used by the borrower, such as early repayment or redraw fees
  • Lenders Mortgage Insurance (LMI) which may be required to secure the loan and can increase the cost of the loan.
  • Government charges such as stamp duty or mortgage registration fees.
  • Fees and charges which aren’t available at the time the comparison rate is provided