Help for the home loan refinancer
Real life loans for real people
So you own your own home. And you’re happily paying your mortgage each month. But you suddenly need to free up some cash.
In real life things change unexpectedly. You might have some urgent renovations. Or you’ve decided to get things under control and want to consolidate debts that are eating up your monthly pay cheque. Whatever the reason you need more money available, home loan refinance may be an option for you to consider. But if your credit history isn’t exactly up to scratch, you might have a hard time getting anywhere with the traditional lenders. There is an alternative. Where some say no, Pepper Money is willing to help.
A bad credit history doesn't mean you're history
Just because you might have missed paying a phone or electricity bill shouldn’t mean an instant black mark against your name. We understand that things are not always black and white and there may have been circumstances beyond your control that resulted in late payments, a default or even bankruptcy. Real life happens. That’s why we sit down with you for a one-on-one chat to learn more about your story. The more we know about you and your situation, the better we are equipped to find a solution.
Pepper Money: Real life home loans for the refinancer
Individual and personalised assessment
Deal direct with a decision maker
Variable interest rates matched to your circumstances
Some of the situations we can help with
- Consolidate any number of debts
- Pay out private or solicitor debts
- Cash out for acceptable purposes like home renovations
- Borrow up to 95% of the property value (available on some loans)
- Failed to meet Lenders’ Mortgage Insurance requirements
- Borrowers with impaired credit history considered
Thinking that's outside the tick box
Our decision is not all about your credit history, good or bad. There’s a whole bunch of other things we look at. Instead of simply ticking boxes, like most, we like to get a bigger picture of you. And we won’t make any notes on your credit file without your okay.
To paint that picture, we begin with 4 things and fill in details around them the more we talk with you.
- What you do – how you make a living, full-time, part-time, casual, or run your own business
- What you own – your assets, do you own a home or investment property or have you saved a deposit?
- What are your outgoings? – your liabilities, do you have a mortgage, car payments or credit card debt? Do you have a business debt or ATO debt? What are your living expenses?
- What you missed – your credit history, do you have any defaults, missed loan repayments or missed bills? Even if any of these things are complicated in any way, we’ll do our best to help.
Try our Home Loan Repayment Calculator
See what a Pepper Money home loan might look like for you.
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.
How our product range may be able to help you
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.
Home Loan Calculators
Work out how much you may be able to borrow in today's home loan marketplace.
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Work out your monthly or fortnightly mortgage repayments and the total interest payable for the life of the loan.
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Work out how much stamp duty you may need to pay on a property in each state in Australia.
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We can help
Ready to apply or want to discuss your home loan needs?
Get a quick estimate of how much you could borrow with Pepper Money.
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Make an enquiry today and a Lending Specialist will contact you as soon as possible.
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Speak to a Home Lending Specialist on 13 73 77. They're here to help.
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Popular questions...
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.
Click here to learn more about our home loan products, or to get an indicative interest rate speak to one of our Lending Specialists on 13 73 77.
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.
To learn more about Pepper Money Home Loan application process, click here or for more information speak to a Lending Specialists on 13 73 77.
We are Australia’s number 1 non-bank lender - we’ve been awarded Best Non-Bank Lender three times – in 2017 and 2019 at the Australian Mortgage Awards and in 2018 at the Australian Lending Awards.
We live our mission every day: to help you 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 to provide a fresh alternative for those people who needed a home loan that banks weren’t prepared to offer. We now also provide car loans, personal loans, loans for professional equipment, and commercial loans. Learn more about us here.
To see the full FAQs, click here.
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For more of your questions answered visit our Help Centre.
Important Information
Note - All applications are subject to Pepper's normal credit assessment and loan suitability criteria. Terms, conditions, fees and charges apply.