Pepper home loan fee summary [Infographic]

Posted in Getting Started

Curious about our fees? Each fee is dependent on the loan product you apply for. Here’s a high level summary of the main fees for Pepper home loan products.*

  Fees paid upfront (on or before settlement date)

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  Fees paid upon settlement of your loan

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View the accessible text version of the infographic below or download the PDF version.

Fees paid upfront (on or before settlement date)

  • Establishment Fee: required as part of the application process on all new loans, including refinancing existing Pepper loans. The establishment fee includes a valuation.
  • Valuation Fee: the valuation when ordered by Pepper is included as part of the establishment fee.
  • Legal Fee: covers the cost of solicitors used in all legal matters regarding home loan contracts and settlement.
  • Title Protection Fee: a one-off, non-refundable payment similar to title protection insurance as it protects the lender from an event such as fraud when a mortgage isn't enforceable.

Fees paid upon settlement of your loan

  • Monthly Administration Fee: a monthly fee for administering your loan and is payable in arrears on the same day each month as the settlement date.
  • Lender Protection Fee (LPF): LPF is a one-off, non refundable fee used to offset the risk associated with loans of a higher Loan to Value Ratio (LVR). Somewhat similar to LMI it protects lenders against the unfortunate event of a defaulted loan. Learn more here.
  • Mortgage Risk Fee (MRF): similar to LPF, MRF protects Pepper against the unfortunate event of a defaulted loan. There is a slight difference in the way the MRF fee structure is calculated.
  • Discharge Administration Fee: a fee you pay when you discharge the loan agreement early.

To find out which Pepper home loan product could work for you, or if you just have some questions you’d like answered around our fees and charges, speak to a Lending Specialist on 13 73 77We have a variety of flexible home loan solutions whether you’re looking to refinance, buy your first home or add a new property to your portfolio.

* These fees and charges are correct as at 28 September 2017 and are subject to change at any time. Other fees and charges may apply depending on the applicant’s circumstances including loan purpose, loan features, loan defaults or arrears. To obtain a full list of all fees and charges and when these might apply, contact a Pepper Lending Specialist.

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