What is a mortgage risk fee? FAQ
- Posted in Getting Started
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 between 8:00am and 6:00pm AEST.