Powered by MOMENTUM MEDIA
subscribe to our newsletter

Pepper Money announces rate discounts

Pepper Money has reduced rates by up to 50 basis points for some of its mortgage products, while also offering same-day approvals. 

Available until 16 September, the non-bank lender has cut its Pepper Essential alt-doc standard loans by 50 basis points, and its Pepper Essential alt-doc PLUS loans by 25 basis points. Pepper's Essential alt-doc interest rates now start from 4.19 per cent with a comparison rate of 4.38 per cent.

In a statement released this week, Pepper said alt-doc loans are an alternative way for a broker’s clients to verify their income and confirm their ability to repay a home loan when perhaps they don’t have tax returns up to date.

“The Pepper Essential Alt Doc standard solution may be suitable for a customer looking for a fast turnaround,” the group said.

“There is no third-party LMI approval required, no credit scoring and defaults up to $500 are allowed so long as they are paid. This loan is also available for debt consolidation (up to four debts), cash out and you also don’t need to have genuine savings to be eligible.”

Advertisement
Advertisement

PROMOTED CONTENT


To ensure other customers aren’t left out, Pepper has also extended its 25-basis-point discount on Mortgage Risk Fees on Pepper Easy (Near Prime) and Pepper Advantage (Specialist) until 16 September 2016.

Pepper Money's director of sales and distribution, Mario Rehayem, said the ASX-listed specialist lender prides itself on catering to segments of the market that are under-serviced, by providing “first-class service, flexible products and a common sense approach to individually assessing loans.”

“We hear from our brokers every day that they still pick providers based on their service offering, over and above commission or pricing,” Mr Rehayem said.

“Brokers will find our promotional rates appealing as it means their self-employed clients can benefit from a prime home loan that allows purchases, non-genuine savings, debt consolidation and cash out with market leading turnaround times.”

[Related: ING Direct introduces lowest ever variable rate]

Pepper Money announces rate discounts
mortgagebusiness

Latest News

The chairman of the financial services regulator has resigned from his position, effective immediately. ...

Refinancing settlements for the first nine months of the calendar year 2020 are up 27 per cent on last year’s volumes, having peaked in Ju...

The Tasmanian-based lender has seen a 43 per cent rise in settlements in the first quarter of the financial year, driven by strong demand fr...

FROM THE WEB

Join a group of highly informed brokers.

Broker Pulse, a community-driven knowledge base of lender performance Reveal exactly which lenders are making life easiest for brokers and their clients by taking this monthly survey and joining a group of highly informed brokers who leverage these insights every month.

JOIN NOW
podcast

LATEST PODCAST: Victoria’s surprising appetite for new homes

Do you expect to see strong uptake of the HomeBuilder scheme?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.