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How the way you work affects whether you can get a home loan.

The way we work here in Australia has changed radically over the last 20 years. More people are making the decision to work for themselves, doing more than one job or working very different sorts of hours. People are working just as hard but in a lot of different ways.

17% of Aussies are self-employed.

1 million Australians are working as independent contractors.

A third of working Aussies don’t do a 40-hour week and nearly a third work part time. 1

Unfortunately, although many have chosen to work this way, the banks haven’t really moved with the times – particularly when it comes to lending them money.  So for the part time or the self-employed, proof of ‘standard income’ is often something they 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 refused simply because of their employment status.Compounding that situation, 54% of those turned down had no idea there was an alternative way to get a loan.2

There is. It’s Pepper Money.

If you or someone you know is having trouble getting a home loan because of the sort of work you do or because your income type doesn’t tick the usual boxes, talk to us at Pepper Money. We’ll do our best to help you find a way forward. 

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All applications are subject to credit assessment and loan suitability criteria. Terms, conditions, fees and charges apply. Pepper Money Limited trading as Pepper Money, Australian Credit Licence Number 286655, is the servicer of loans by Pepper Finance Corporation Limited ACN 094 317 647.

2. Pepper Money (2017). The Lost Aussies: 3.6 million locked out of the financial system. A Research Report. Pureprofile research, Sydney Australia, 2017