Darren Little, Smartmove

I'm sold on Specialist Lending because...

"we work mostly with the mainstream lenders but by deepening our understanding of specialist lending, we have been able to meet more of our clients' needs."

Last year, Smartmove used specialist lending to help their long term clients move forward when their bank told them they could not help.

The Problem

  • Needed to consolidate 10 consumer debts totalling $171k with existing home loan to simplify the applicants' debt structure and reduce their aggregate monthly repayment commitments.
  • Cash out for home improvements on $3m waterfront property.
  • Both applicants had held executive positions in their previous roles and commenced new business ventures in the 12 months prior to the application.
  • Told by their existing lender to come back in 18 months but could not wait or would be forced to sell and down size.

The Solution

  • Workshopped the scenario with a Pepper Money BDM to further explore the client's position.
  • Flexibility in utilising income derived from the new business ventures.
  • Application was also supported by a strong outlook for the new businesses and good equity.
  • Refinanced existing major bank home loan for $1.1m with debt consolidation of personal loans, credit cards and car loans (over $171k) and obtained $200k for home improvements.


The Outcome

  • Clients retained the property, completed the maintenance needed as well as consolidated their debts.
  • Satisfied clients that have referred Smartmove to several of their friends.

Do you have a client with a similar situation?

Pepper Money may be able to help.

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Applications are subject to Pepper Money's normal credit assessment criteria and loan suitability criteria. Terms, conditions, fees and charges apply.