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.
Pepper Money has also cut its interest rates by 50 basis points across its prime, alt-doc loan range until 16 September, a promotion that has been available to self-employed broker customers since July 2016.
“Our self-employed customers, who are able to take advantage of both cuts could receive up to 65 basis points cut from their interest rate.
“Brokers will find our promotional rates appealing as it means their self-employed clients can benefit from a prime home loan that allows purchases, refinances, non-genuine savings, debt consolidation and cash out with market leading turnaround times.”
The Pepper Essential alt-doc standard loan will be discounted by 50 basis points and the Pepper Essential alt doc PLUS loan will be discounted by 25 basis points. These reductions mean Pepper Essential alt-doc interest rates will now start from 4.04% pa (4.23% pa comparison rate*).”
In addition, Pepper Money has also extended its 25 basis point discount on mortgage risk fees for Pepper Easy (near prime) and Pepper Advantage (specialist) loans.
* All Comparison Rates are calculated on the basis of secured credit of $150,000 over a 25 year term. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
For more information, please contact DEC PR on behalf of Pepper Group:
02 8014 5033 | email@example.com
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.