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The way we work here in Australia has really changed over the last 20 years. More people are working for themselves, doing more than one job or working different sorts of hours.1

Real working life in Australia is pretty varied. 17% of Aussies are self-employed, with around 1 million being independent contractors. And we don’t all do a 40-hour week; nearly a third of us work part time.2

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That’s why proof of ‘standard income’ is often something we don’t have when it comes to applying for a home loan.

Yet research shows that 26% of Aussies that were turned down for a loan were declined because of employment status3. What’s the alternative? It’s Pepper Money – Australia’s Best Specialist Lender.

If you’re having trouble because of your type of employment or because your income type doesn’t tick the right boxes (non-standard income) talk to us at Pepper Money, we'll do our best to help find a way forward.

Pepper Money: Real life home loans for self employed borrowers.

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Individual and personalised assessment

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Competitive interest rates matched to your circumstances

Some of the situations we can help with

  • Newly self-employed (12 months ABN accepted)
  • Tax returns not completed (alternative income documentation accepted)
  • Failed to meet Lenders Mortgage Insurance requirements
  • Cash out for approved business purposes
  • Payout business/tax debt
  • Borrowers with impaired credit history considered

Try our Home Loan Repayment Calculator

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

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How our product range may be able to help you

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Pepper Essential

A simple home loan for borrowers with a clear credit history.

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Pepper Easy

A balanced home loan for borrowers who haven't had a credit problem in the last 2 years.

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Pepper Advantage

A real home loan for borrowers whose circumstances have made getting a loan challenging.

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Home Loan Calculators

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How much can I borrow?

Work out how much you may be able to borrow in today's home loan marketplace.

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Home Loan Repayment Calculator

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? 

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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...

We can consider self-employed borrowers who have been in business for at least 6 months.

We have two types of income documentation options; full documentation (Full Doc) and alternative documentation (Alt Doc).

You can apply for a full doc home loan if you can give us your last two years Financial Statements and Certified Tax Returns + Tax Assessment Notice. If, for whatever reason, your tax isn’t up-to-date you can still apply using alt doc. You must have an ABN registered for a minimum 6 months and GST registered for a minimum 6 months.

You will then need to supply a completed ‘Declaration of Financial Position’ plus one of the following options: 

  • 6 months Business Bank Statements
  • 6 months Business Activity Statements (BAS)
  • Pepper Accountant’s Letter (only available to borrowers who have been self-employed for a minimum of 12 months).

We will consider a range of different types of self-employed income including the following: 

  • Net profit before tax
  • Wages/salaries
  • Dividends and trust distributions
  • Addbacks such as depreciation and non-recurring interest charges may also be considered
  • Superannuation contribution in excess of 9%

Note: all subject to our credit assessment and loan suitability criteria.

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 working towards 10% as an ideal target.

The reason for the suggested 10% target is that when saving for your deposit it is really important to factor the additional costs you will need to cover when you are taking out a loan, including:

  • Establishment and risk fees such as mortgage insurance (generally these are up to 2% of the amount being borrowed)
  • Conveyancing and legal costs
  • Government fees including stamp duty (amounts vary based on State and other factors)
  • Title search and registration fees
  • Pest and building inspections
  • Home building insurance prior to settlement

If you’re interested in seeing how much you may be able to borrow for a home loan you can check out our calculator here

Rates refers to the interest rate, being the amount of interest you pay on your loan amount. Fees are the fees and charges that you pay for establishment and ongoing administration of your loan account.

The interest rate you will qualify for is 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) and the size of your deposit, whether the loan is to purchase an owner-occupied property or investment property, or if you have had any past credit issues.

Click here to learn more about our home loan product options. At Pepper Money we offer a range of interest rates, depending on your individual circumstances. To get an indicative interest rate, please call 13 73 77 and speak with one of our lending specialists.

Your Pepper Money Home Loan Journey can take up to six weeks – this is the typical timeframe for a home purchase, however, we can help turn this around in closer to three weeks if you are ready to go with all the necessary supporting documentation.

To learn more about Pepper Money Home Loan application process, click here.

Pepper is Australia's number 1 alternative lender, and we live our mission: 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.

Since 2001, we’ve been helping 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.

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For more of your questions answered visit our Help Centre.

*Interest Rates start from this amount, are correct as at 6 July 2018 and subject to change at any time. The actual interest rate applicable will depend on the individual borrower's circumstances. All Comparison Rates are calculated based on a secured loan of $150,000 over a 25 year term. 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. 

Note - All applications are subject to Pepper's normal credit assessment and loan suitability criteria. Terms, conditions, fees and charges apply.