A Mortgage Risk Fee (MRF) is a fee charged by Pepper to secure ourselves against the potential loss that may be incurred if you are unable to meet your mortgage repayments. It’s similar to Lenders Mortgage Insurance (LMI). However, rather than using a third-party insurer, Pepper is self-insured. This means we are the ultimate decision makers on whether we approve the loan because we don't need to seek third-party LMI approval.
Want to know more? Speak to a Lending Specialist on 13 73 77, Monday to Friday 8:00am - 6:00pm AEST.
This article provides you with factual information only, and 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. Neither Pepper nor its related bodies, nor their directors, employees or agents accept any responsibility for loss or liability which may arise from accessing or reliance on any of the information contained in this article. For information about whether a Pepper loan may be suitable for you, call Pepper on 13 73 77.