Pepper Essential Pepper Essential (LVR >75% up to 80%)
4.40%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 Equity, Investment, Owner Occupied, and Vacant Land in NSW, NT, QLD, SA, WA, VIC, TAS, and ACT.
- 10 - 30 years
The level of financial documentaion and credit history required to apply for the loan.
- Full Doc
- Credit History
- 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
- 0 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
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. Free additional payments are allowed. Fee Capitalisation Not available. Transaction Facilities: Access your funds via: - Telephone and internet banking - BPAY Units High Density rules apply Account Splits: The 4 split maximum is inclusive of the 100% interest offset sub-account. Security: Regardless o
** Max loan $1.5M for Sydney metro and Melbourne metro only. All other areas max $1M. Cash Out Policy: 0-90% LVR No limit on cash out if LVR <80%. Cash out portion is limited to 20% of the total loan if LVR >80%. Loan sizes: -Maximum loan size $2,000,000 (multiple securities) - Maximum loan Full Doc with single security is $1,500,000 Fees can be capitalised up to 95% LVR (inclusive of fees) for purchases only Fees can be capitalised up to 90% LVR (inclusive of fees) for all other loans If MRF is capped, the interest rate is based on the Base LVR
Legal fees $440. Mortgage Risk Fee replaces Lenders Mortgage Insurance: 0.50% MRF loading will apply for loan amounts > $1m Refer to product guide for risk fee rates.