Must know changes to rates, buffers and more

Posted: 07-08-2023

Effective 7 August 2023, help your clients succeed, for less with

The Red Hot Rates package1:

Market leading interest rates on selected LVRs, with

  • Home loan Full Doc option interest rates starting from 6.29% p.a.2 (6.47% p.a. comparison rate3)
  • Home loan Alt Doc option interest rates starting from 6.79% p.a.2 (6.97% p.a. comparison rate3)
  • Commercial loan Full Doc option interest rates starting from 7.69%p.a.4
  • Commercial loan Alt Doc option interest rates starting from 8.09% p.a.4

For our full range of interest rates including the interest rate promotion, refer to our rate card.

This information is for Pepper Money accredited brokers, and should not be shared with consumers. The commercial loan interest rates apply for commercial borrowers only. Reach out to your BDM for interest rates for individual borrowers.

 

Stress relieving serviceability options

  • A reduced serviceability buffer of 2%; and
  • Additional options to support your refinance, investor and fixed rate borrowers for select Prime and Non-Conforming scenarios. Terms and conditions apply.

Check out our serviceability calculator.

 

Market leading response times:

  • SLAs: Same day turnaround for home loan submissions applications lodged by 11am AEST. 

 

Fresh Policy options:

Missed or late repayments update

  • The Near Prime Clear home loan option now considers credit reports with RHI = 1 reporting for unsecured debt.

 

Commercial lending updates

New Income verification options. Commercial lending is now even easier with only a single form of income verification required on our commercial Prime Alt Doc loan option.

The commercial and residential property SMSF option is open for our commercially accredited brokers. Ask your BDM to find out more.

 

Brokers submit a scenario to Pepper Money

Bank said no? Put it to the non-bank test.

Get a fast-paced review from our scenarios team. They can tell you when ‘no’ could be ‘yes’.
Submit a scenario

   

Information is correct as of 7 August 2023 and subject to change at any time. Applications are subject to credit assessment, eligibility criteria and lending limits. Terms, conditions, fees and charges apply.

1Interest rate promotion (Promotion) applies to select LVRs for new home loan and commercial loan applications. Refer to the rate card for our full range of interest rates and fees. Applications must be submitted between 12:00 am AEST 7 August 2023 and 5:00 pm AEDT 13 October 2023. Applications lodged after the Promotion period will be offered the current interest rates then applicable. This Promotion is subject to change and may be varied or withdrawn at any time.

2Until 5:00 pm AEDT 13 October 2023, Prime home loan option variable interest rates range from 6.29 - 8.59% p.a. (Comparison rates range from 6.47 - 8.60% p.a.3), Near Prime Clear home loan option variable interest rates range from 6.59 - 8.94% p.a. (Comparison rates range from 6.85 - 9.13% p.a.3), Near Prime home loan option variable interest rates range from 7.09 - 9.44% p.a. (Comparison rates range from 7.35 - 9.53% p.a.3), and Specialist home loan option variable interest rates range from 8.09 - 11.94% p.a. (Comparison rates range from 8.38 - 12.09% p.a.3). Promotion home loan variable interest rates are correct as at 7 August 2023, are subject to change and may be varied or withdrawn at any time. The actual interest rate applicable will depend on the individual borrower's circumstances.

3Comparison rate is calculated on a secured loan of $150,000 and 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.

4Until 5:00 pm AEDT 13 October 2023, Prime commercial loan option interest rates range from 7.69 - 8.49% p.a., and Near Prime commercial loan option interest rates range from 8.39 - 9.19% p.a. Promotion commercial loan interest rates are correct as at 7 August 2023, are subject to change and may be varied or withdrawn at any time. The actual interest rate applicable will depend on the individual borrower's circumstances.

© 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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