Meet Adam...

Meet Adam...

He was looking to purchase his first home with non-genuine savings.

  • Age: 35 years old
  • Occupation: Self Employed Painter (GTS not registered)
  • Income: $65K
  • Assets: Vehicle $5K; tools $10K; gifted funds of $60K
  • Liabilities: Currently renting for $500pw; CC limit $5k

Adam had been working as a self-employed painter for more than 3 years.

He had no blemishes on his credit file and was taking home approximately $65k, which we were able to confirm on his tax returns and notice of assessments over the last 2 years.

He had his tools for work, a vehicle and his only other debt apart from his existing rental commitment, was a credit card with a limit of $5k.

Adam did not have genuine savings, however, a relative was planning on providing him a gift of $60k. Adam was looking to borrow $340k on a property valued at $400k.


Since Adam was able to supply the most recent 2 years of tax returns he qualified for a Pepper Money Prime Home Loan which allows for non-genuine savings. Since his business turnover was <$75k, GST registration was not required.

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The case study is based on real-life examples and has been provided solely for educational purposes. The case study is not intended to imply any recommendation about any financial product(s) or constitute tax advice. If you require financial or tax advice you should consult a licensed financial or tax adviser. Outcomes will vary depending on the applicant’s individual circumstances. All applications are subject to Pepper Money's normal credit assessment and loan suitability criteria. Terms, conditions, fees and charges apply. Pepper Group Limited, Australian Credit Licence Number 286655, is the servicer of loans made by Pepper Finance Corporation Ltd ACN 094 317 647.