Must know changes: interest rates and more

      Posted: 05-03-2025

      Update on interest rates 

      Home loan clients not happy with their rate? See how we rate. 

      Until 4 June 2025, access promotional rates across Prime Full Doc up to 80% LVR1 and Alt Doc2 home loan options up to 85% LVR.

      Prime Full Doc from

      6.29% p.a.3                              

      6.47% p.a. comparison rate4

      Prime Alt Doc from

      6.79% p.a.3                              

      6.97% p.a. comparison rate4

      What’s new

      A super smart addition – SMSF Alt Doc 

      You can now use alternative documentation to demonstrate income for your clients’ SMSF loan. Available when fund only borrowing capacity doesn’t meet minimum requirements, but member(s) plan to and have the capacity to make additional ongoing contributions (in addition to current contributions).

      What documentation can you use?

      • ABN registered for 24 months
      • GST registered for 12 months
      • Declaration of financial position plus one of the following:
        • 6 months business bank statements
        • 6 months BAS
        • Pepper Money accountant’s letter

      New and improved calculators

      Making non-bank lending easier for you – our postcode and LPF calculators have had a makeover with better functionality and a sleek new look. Plus, we’ve added construction loans to the postcode calculator for even more options. 

      Product Guide Changes

      To make non-bank lending even easier, we’ve updated our credit policy, to now accept the below across the following options: 

      • 6 months BAS or Business Bank Statements on Commercial Near Prime Alt Doc loans
      • Consolidate unlimited number of debts with Commercial Prime loans
      • Genuine savings not required on Construction Near Prime loans
      Product Guide

      Servicing calculator 

      To better help clients with affordability, we’ve made some changes to our servicing calculator. See the calculator for more details.

      Servicing calculator

      Information is correct as of 5 March 2025 and is subject to change.  

      Applications are subject to credit assessment, eligibility criteria and lending limits. Terms, conditions, fees and charges apply.

      Applications lodged after the Promotion period will be offered the application interest rate, fees and credit policy then applicable. Promotions are subject to change and may be varied or withdrawn at any time.

      1Prime Full Doc promotion applies to new Prime Full Doc home loan applications, for variable interest rates up to 80% LVR. Refer to the rate card for our full range of interest rates and fees. Applications must be submitted between 12:00am AEDT 5 March 2025 and 11:59pm AEST4 June 2025.

      2Prime Alt Doc promotion applies to new Prime Alt Doc home loan applications, for variable interest rates up to 85% LVR. Refer to the rate card for our full range of interest rates and fees. Applications must be submitted between 12:00am AEDT 15 October 2024 and 11:59pm AEST 4 June 2025.

      3Variable interest rates range from 6.29-11.94%p.a. (Comparison interest rates range from 6.47-12.09%p.a.). Interest rates are correct as of 5 March 2025 and are subject to change at any time. The actual interest rate applicable will depend on the individual borrower’s circumstances.

      4Comparison rate is calculated on a secured loan of $150,000 for a term of 25 years. 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.

      © Pepper Money Limited ABN 55 094 317 665; AFSL and Australian credit licence 286655 is the servicer of home loans provided by Pepper Finance Corporation Limited ABN 51 094 317 647.   

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