Pepper home loans

Pepper is an online-only lender, meaning that there are no branches or mobile lenders. Potential Pepper customers can contact the lender through the home loan enquiry hotline, by filling out an online enquiry form, or by emailing Pepper directly.

• Customer service centre (phone, email)
• Online banking

Customers wanting to apply for a Pepper home loan can do so by filling out an online enquiry form, calling the hotline or emailing a lending specialist. 

Before applying for a home loan it is important to consider how much money you can afford to borrow, given your financial situation and income. 

You will also need to provide documentation when applying for a home loan. This may include:

• Personal identification
• Proof of income – whether you are self-employed or work for an employer
• Information regarding your current debts, liabilities and assets including any personal or car loans
• Details of your ABN and GST registration
• An accountants letter if necessary

Pepper is a specialist lender, and as such, some of its home loans are different from those offered by more traditional banks. 

Pepper home loans suit borrowers in unique circumstances, but they still serve a range of borrower types, including:

• First-time home buyers
• Investors
• Refinancers
• Renovators
• Self-employed (alt-doc loans)

Pepper home loans can assist borrowers who have had credit issues in the past, borrowers who are overcommitted financially, and borrowers who have experienced life events that have caused defaults on their credit files.

Pepper mortgages have a maximum loan term of 30 years. Extra repayments are allowed. Depending on the product you choose, your Pepper loan may have an offset account and a redraw facility. Borrowers can choose from weekly, fortnightly, or monthly repayments, and can choose between principal and interest and interest-only payments.

Pepper home loans generally charge establishment and ongoing fees.

Pepper home loan interest rates vary from loan to loan. As a general rule, more traditional borrowers with lower LVRs get lower interest rates than non-traditional borrowers with high LVRs. 

Pepper’s mortgage interest rates differ between owner-occupiers and investors, as well as between principal and interest and interest-only mortgages. Interest-only payments are available for a maximum of five years.

Pepper’s flexible home loans can be valuable to non-traditional borrowers who may not be able to take out home loans from banks, though the rates on these loans may be higher than for more traditional loan products.

Pepper’s home loan products can be valuable for customers who don’t fit within traditional borrower guidelines. Pepper offers mortgages for self-employed customers, PAYG employees, and those who have had issues with their credit in the past.

Pepper does not have any branches, so Pepper home loans are only suitable for borrowers who are willing to have their home loan communication done entirely online or over the phone.

Pepper offers home loan products for non-traditional borrowers, including those who have unusual financial histories, so their rates aren’t always as low as other online-only lenders who cater to more traditional borrowers.

While fees may vary from loan to loan, Pepper home loans tend to charge an establishment fee as well as ongoing monthly service fees.