Pepper Money cuts rates by 15 basis points

Posted 10-08-2016

Sydney, 10 August 2016 – Following the Reserve Bank of Australia’s decision to cut the official cash rate by 25 basis points last Tuesday, Pepper Money has cut interest rates by 15 basis points across its home loan products for new and existing customers. This change is effective from Monday 29 August 2016.

Pepper Money’s Director of Sales and Distribution, Mario Rehayem, said “the cut was a decision that would directly benefit its home loan customers.

“It’s important that our customers are able to receive a competitive rate and benefit from the historically low interest rate environment. Each rate cut decision is based on balancing our customers’ expectations against funding market conditions which are impacting the whole industry.

“We pride ourselves on catering to segments of the market that are under-serviced, by providing first-class service, flexible products and competitive offerings, which we’re further demonstrating with this rate reduction.” he said.

ENDS

For more information, please contact DEC PR on behalf of Pepper Group: 
02 8014 5033 | pepper@decpr.com.au

Pepper Group offers a unique, diversified, global portfolio of financial services including Lending, Advisory and Asset Servicing across the residential and commercial property sectors - as well as in consumer, auto and equipment finance.

As a people focused lender, we specialise in flexible loan solutions based on individual credit assessment. It enables us to support many borrowers who fall outside the credit criteria of the major banks. As a third party servicer, we administer loan books on behalf of other banks and financial institutions – when they don’t have the capacity. We step in, using our own processes or expertise to administer loan payments or manage the arrears and recovery process.

We are one of the top 500 companies listed on the Australian Securities Exchange (ASX:PEP). Our offices span Australasia, Asia and Europe.

We're a global leader in alternative solutions with over 600,000 customers worldwide and $44.4 billion in assets under management as at 31 March 2016 – comprising $6 billion in lending assets and a servicing portfolio of $38.4 billion.

At Pepper we discover new ways to finance ambition.