Why choose Pepper Money home loans

Our flexible approach to home loans considers the ups and downs of real life. Whether you’re buying your first home, refinancing to consolidate debts, diversifying your investment portfolio or seeking greater flexibility as you’re self-employed – we’re here to help.

  • Quick: Credit decision within 48 hours
  • Flexible: We look beyond just your credit history
  • Accessible: Talk through your situation with us

Best Non-Bank Lender 2019

Australia's best Specialist Lender and Non-Bank

Our home loan caters to a wide range of situations – what’s yours?

We understand that in real life everyone’s situation is different. That’s why we look at a range of factors when assessing a home loan application. Estimate your borrowing power in less than five minutes and find out what rate you may be eligible for using our online calculator.

Choose a Pepper Money home loan option

Variable Interest Rate

A variable rate option for borrowers who want to enjoy more flexibility, when real life happens.

Variable rate starting from*
4.19
%
p.a.
Comparison rate starting from^
4.38
%
p.a.

For new P&I owner occupier variable rate home loans up to 55% LVR.

What you'll get

  • Flexible repayment options
  • Free online redraw (manual redraw fee applies)
  • 100% interest offset sub-account
  • Visa debit card access
  • Split loan options
  • Unlimited extra repayments
  • Interest only payments available

Fixed Interest Rate

A fixed rate option which makes it easier to manage your money with certainty of repayments, plus no break fees.

2 year fixed rate starting from*
6.09
%
p.a.
Comparison rate starting from^
4.73
%
p.a.

For new P&I owner occupier fixed rate home loans up to 55% LVR.

What you'll get

  • Repayment certainty during the fixed interest rate period
  • Variety of  fixed rate terms available (2,3,5,7 and 10 years)
  • No break fees or early repayment fees
  • Split loan options
  • Unlimited extra repayments
  • Interest only payments available

 

All applications are subject to credit assessment, loan eligibility criteria and lending limits. Terms and conditions, fees and charges apply.

*Pepper variable interest rates range from 4.19%p.a.-9.79% p.a. (Comparison rates range from 4.38%p.a.-9.92%p.a.^), Pepper 2 year fixed interest rates range from 6.09%p.a.-11.69%p.a (Comparison rates range from 4.73%p.a.- 10.29%p.a.^). For all fixed interest rates click here. The actual interest rate will depend on the borrower’s circumstances and the information verified during the loan application assessment.


Try our Home Loan Repayment Calculator

See what a Pepper Money home loan might look like for you.

digits only, min-5000

digits only, min-1 year, max-30 years

digits with two decimals only

With a repayment frequency of:

Please select frequency

Important Information

This repayment calculator gives you an estimate of what your home loan repayments could be, based on information you have provided in the calculator. The calculator does not take into account loan establishment or application fees, nor government statutory or lender fees.  It is to be used as a guide only and does not constitute a quote, pre-qualification, approval for credit or an offer for credit and you should not enter commitments based on it.


What’s a flexible credit assessment?

flexible credit assessment

We don’t just look at the black and white boxes on your application. We make the effort to get to know you – the person behind the application. We ask the questions that matter and look to understand the details of your credit report, which allows us to make an informed assessment based on your ability to repay a loan, as well as a range of other factors.

This includes your property amount, employment, credit history, financial situation and your home loan needs. This allows us to provide a personalised interest rate matched to your individual circumstances.

It’s our flexible approach that helps everyday Aussies achieve their dreams of buying their new home. 

Let’s get started

To see whether you could qualify for a Pepper Money home loan try our online calculator, where in less than five minutes you’ll get an indicative interest rate and estimated monthly repayments. What’s more – it won’t impact your credit score.

Estimate my borrowing power

Popular home loan questions...

Here are some FAQs about applying for a home loan with Pepper Money.

You will need to have documents supporting your current financial position such as recent bank statements, payslips or other proof of income, personal identification and a snapshot of your current asset and liability position.

For PAYG applicants we require two current payslips plus one of the following:

  • Most recent group certificate
  • Most recent tax return / taxation notice
  • Current letter of employment
  • Bank statements – to confirm last 3 months salary credits

For Self-Employed applications we need your last two years Tax Returns, two years Tax Assessment Notice and & last 1 month’s business bank statements. If you are self-employed and unable to provide this documents, you may still qualify for an alternative documentation (alt doc) loan. For more details click here

On some of our loans, we offer finance up to 95% of the purchase price, meaning you can start to look at buying a house once you've saved at least 5% of the purchase price. The deposit amount may also depend on the property and area you’re looking at purchasing.

Remember, there can be extra costs involved when buying a house. You’ll need to cover government and legal fees, which can’t be added to your home loan balance.

Our home loan borrowing capacity calculator asks a few personal and financial questions to calculate an estimate of how much you may be able to borrow with Pepper Money. After finding out how much you could potentially borrow, you can then either speak to a lending specialist about your situation, or continue on to get an indicative interest rate online.

See how much I can borrow

The interest rate offered, and fees and charges will depend on our assessment of a number of factors at the time of application including:

  • The size of your deposit
  • Nature of the security property
  • Loan to value ratio (LVR)
  • Your income
  • Credit history
  • Any assets you own
  • Any liabilities or credit obligations
  • Chosen repayment type – paying off interest-only, or principal and interest
  • The purpose of the loan – if it’s for an owner-occupier or investment property

The risk loading will apply for the loan term.

To get an indicative interest rate speak you can start by using our online borrowing power calculator, or speak to one of our Lending Specialists on 137 377

Certain Pepper Money fees can be added to your loan balance, while others will need to be paid upfront – including establishment or application fees, and risk or mortgage insurance fees. Other smaller fees (like fees for an offset sub-account) will be added to your loan each month.  

You can view a summary of our home loan fees here  

You’ll also need to pay solicitor fees along with local and state government taxes and levies. These can’t be added to your loan balance and are usually paid upon settlement. 

Your Pepper Money Home Loan Journey can take up to six weeks – this is the typical timeframe for a home purchase, however the process may be quicker if all the necessary documentation is provided sooner. 

Delays in decisions are often caused by incorrect or missing documentation. 

To learn more about Pepper Money Home Loan application process, click here or for more information speak to a Lending Specialists on 137 377.

Loan to Value Ratio, also known as LVR, is the loan size in relation to the property’s value. The size of the deposit plays a key role in determining the LVR, as the larger your deposit, the lower your LVR will be. Your LVR can impact interest rates and products that will be available to you, and it can determine whether you’ll need to pay a lender protection fee (LPF), lenders' mortgage insurance (LMI) or other risk fees. The value of the property will usually be confirmed by a valuation.

To calculate your LVR, divide the amount you need to borrow (e.g. $400,000) by the value of the property (e.g. $500,000) and multiply this by 100 to give you a percentage.

$400,000/$500,000 x 100 = 80% LVR. This would mean you have a 20% deposit of $100,000 towards your $500,000 property.

Learn more about LVR

While a high credit score might help you get a rock-bottom interest rate, it may still be possible to apply for a home loan with a less-than-perfect credit score. While some banks often prefer to lend to those with a perfect credit history and high credit score, at Pepper Money, we take a real life approach to lending and look beyond just your credit score to see what we can do to help. .

Talk to a lending specialist about your situation. We’re here to help.

We give you the flexibility to choose between a fixed, a variable rate, or both, on your Pepper Money home loan.

Fixed interest rate

 A fixed interest rate home loan simply means that you ‘fix’ the interest rate at whatever the rate is at the time of settlement for a set term (2, 3, 5, 7 or 10 years). That means your interest rate and payments will remain the same over that period, regardless of any increases or decreases to interest rate changes.

A Pepper Money fixed rate home loan may suit borrowers looking for:

  • The certainty of fixed repayments
  • Ability to break fixed rate with no break cost
  • Unlimited additional repayments allowed without penalty (no redraw available)
  • Available for purchases, refinances, debt consolidation or cash out for investment or personal purposes

Variable interest rate 

 A variable rate loan is a loan with interest rates that are subject to change throughout the term of your loan. This may be due to changes to the official cash rate set by the Reserve Bank of Australia (RBA) or if your lender changes the interest rate.

Variable interest rates may suit borrowers looking for:

  • Flexibility with repayment frequency and free online redraw (manual redraw fee is $50)
  • Options to reduce interest with a fully transactional 100% offset account (monthly fee applies)
  • Available for purchases, refinances, debt consolidation or cash out for investment or personal purposes

For more information you can talk with one of our Lending Specialists on 137 377, they’re there to help. 

You can choose a Pepper Money split home loan. You can choose to have a portion of your loan with a fixed interest rate for a chosen loan term and the remainder with a variable interest rate. This can give you the flexibility of a variable interest rate loan and the repayment certainty of a fixed interest rate loan. Here’s how it works:

  • Choose a fixed rate term and know what the repayments and interest rate will be for that period
  • Enjoy the features of a variable interest rate loan, such as a free online redraw facility and a fully transactional 100% offset account (monthly fee applies to offset account and manual redraw requests)

We’re one of Australia's leading non-bank lenders!

We were established in 2000 to help Australians achieve their financial dreams through providing flexible financial solutions that factor in the ups and downs of real life. Since then, we’ve become one of the largest, award-winning non-bank lenders in Australia and New Zealand.

To see the full home loan FAQs, click here

 

Important Information

Information provided is 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 licenced financial or ta adviser. All applications are subject to credit assessment, loan eligibility criteria and lending limits. Terms, conditions, fees and charges apply. The actual interest rate will depend on the borrower’s circumstances and the information verified during the loan application assessment.

Help at hand

Here are some handy tips and guides to help you on your home loan journey.

For more home loan tips, guides and your questions answered visit our Help Centre.

Important Information

Information and interest rates are correct as at 15 July 2022 and subject to change at any time. Offers and promotions may be continued, withdrawn, or changed at any time without notice.

All applications are subject to credit assessment, loan eligibility criteria and lending limits. Terms, conditions, fees and charges apply.  Information provided is 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 licenced financial or tax adviser.  

*Pepper variable interest rates range from 4.19%p.a.-9.79% p.a. (Comparison rates range from 4.38%p.a.-9.92%p.a.^), Pepper 2 year fixed interest rates range from 6.09%p.a.-11.69%p.a (Comparison rates range from 4.73%p.a.- 10.29%p.a.^). For all fixed interest rates click here.The actual interest rate will depend on the borrower’s circumstances and the information verified during the loan application assessment.

^All Comparison Rates are calculated based on a secured loan of $150,000 and a term of 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

This Pepper home loan borrowing estimate does not constitute a quote, pre-qualification, formal approval for credit or an offer for credit and you should not enter commitments based on it. The specific details of your loan if an application is approved will be provided in your loan contract.

Visa Debit card is issued by Indue Limited ABN 97 087 822 464 and distributed by Pepper Finance Corporation Limited ACN 094 317 647 and/or through Pepper Money accredited mortgage brokers. Refer to the Conditions of Use and Target Market Determination (TMD) located here.

Calculate borrowing power Call 137 377 Enquire now