Pepper Essential Plus Pepper Essential Plus LVR >75% up to 80%

  • 4.99%
    p.a Standard Variable
  • 5.06%
    p.a Comparison**
  • $1,039
    Upfront fees
  • $120
    Annual fees
  • 80%
    Max LVR
  • $2,054
    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*
$2,054
rate per annum
4.99%

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.

Lvr
80%
Capitalise LMI
Yes

Availability

For Construction, Equity, Investment, Owner Occupied, and Vacant Land in NSW, NT, QLD, SA, WA, VIC, TAS, and ACT.

Term
10 - 30 years
Min
$100,000
Max
$1,500,000

Eligibility

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

Financials
Full Doc
Credit History
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 repayments 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
$1,039
Establishment
$599
Legal/Solicitor
$440

Ongoing Fees

Monthly and annual fees and charges during the loan period.

Total
$120
Ongoing Monthly
$10

Exit Fees

Fees associated with prematurely ending the loan.

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

Notes

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 Pepper’s 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 - B

LVR Notes

Cash Out Policy: 0-90% LVR – NO LIMITS Loan sizes: ** Max loan $1.5M for Sydney metro and Melbourne metro only. All other areas max $1M. - Maximum loan size $2,000,000 (multiple securities) - Maximum loan Full Doc with single security is $1,500,000 (80% LVR) 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

Fee Notes

Construction fees: Estalishment fee $999 and customer pays valuation/inspection fees at cost. A minimum of 4 inspections will be required. Legal fee $440 plus disbursements. $10 per month per split account fee. $250 Discharge fee per loan. Mortgage Risk Fee replaces Lenders Mortgage Insurance: Refer to product guide for risk fee rates.

*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