Thinking outside the tick box
We understand that in real life everyone’s situation is different. That’s why we look at a wide range of things when we assess any application for a loan. Instead of simply ticking boxes we like to get a good detailed understanding of your situation before we start making decisions. Because we understand the need to move quickly, once we’ve got all your documentation, provided it checks out, we can give you a conditional approval within 24-48 hours.
It's all about being flexible
We’re not about how you can fit into a traditional box, we're about doing our best to provide home loan products that have a little more flexibility.
Buying a home involves a lot of thinking and planning, which, can be a little bit overwhelming. That’s why we’ve made sure the process here is as simple and streamlined as possible. To make it easy for you.
Your situation might not be typical but it doesn’t mean you shouldn’t still be able to get a home loan.
By being flexible, we’ve been able to help thousands of people in Australia to own their own home.
Give us a call today and let’s see how we can help you.
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.
A simple home loan for borrowers with a clear credit history.
A balanced home loan for borrowers who haven't had a credit problem in the last 2 years.
A real home loan for borrowers whose circumstances have made getting a loan challenging.
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 Financial Statements and Certified Tax Returns + Tax Assessment Notice. If you are self-employed and unable to provide these documentation, you may still qualify for an alternative documentation (alt doc) loan. For more details click here.
At Pepper Money we can finance home purchases of up to 95% LVR (subject to the loan meeting our eligibility criteria), which means you can start to look at buying once you have saved around 5% of the purchase price.
However, we recommend at least 10% as an ideal target as it is important to factor in the additional costs you will need to cover when you are taking out a loan.
At Pepper Money, we offer a range of variable interest rates depending on your individual circumstances. A decision on your rate will be based on a range of different factors including;
- The amount you need to borrow against the property value; known as the Loan-to-Value Ratio (LVR)
- The size of your deposit
- Your source of income
- Credit history
- Assets and liabilities
- And whether the loan is to purchase an owner-occupied property or an investment property.
There are fees associated with every home loan application which should be factored on top of your deposit. For example, establishment and ongoing administration of your loan account, legal fees, stamp duty and mortgage insurance fees.
Get in touch with one of our Lending Specialists on 13 73 77 to understand the full list of fees on a Pepper Money home loan and when these might apply. Alternatively you can view a high level summary of our home loan fees here.
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.
We are Australia’s number 1 non-bank lender, as voted by the Australian Mortgage Awards 2019, and we live our mission every day: to help people succeed.
We specialise in working on each individual application so we can fully understand your real life situation and help find a suitable solution.
We were set up in 2000 because so many people needed home loans that banks weren’t prepared to offer. Since then we’ve helped over 200,000 Australians who don’t tick all the traditional boxes for home loans – and we also provide personal loans as well as professional equipment and car loans. Learn more about us here.
To see the full FAQs, click here.
For more of your questions answered visit our Help Centre.