Pepper is a responsible lender
Pepper is committed to responsible lending. We recognise the importance of working with our valued distribution partners to ensure we all play our part in conducting business in an ethical and responsible manner. The following outlines Pepper’s approach to responsible lending.
Lend only what our customers can afford to repay (new and refinanced home loans):
- Ensuring compliance with the National Consumer Credit Protection Act, relevant guidelines published by ASIC, MFAA, the Credit Ombudsman Service, and our own credit assessment policies.
- Ensuring brokers are trained with relevant information covering Pepper’s fees, products and credit policy requirements.
- Ensuring Pepper staff only approve loans that are not unsuitable to the customer by following a strict, detailed and sensible loan criteria process, including the use of credit reference agency checking and serviceability calculators to make a full assessment of an applicant’s capacity to repay a loan without substantial hardship.
HELP Pepper borrowers facing financial difficulty:
- Encouraging customers facing financial difficulty to talk to us directly, treating every case individually.
- Proactively contacting borrowers who may be experiencing financial difficulty in managing their home loan.
- Offering payment options for customers to help them deal with changing circumstances.
Encouraging borrowers to seek independent advice
Obtaining a home loan is an important decision. Pepper encourages borrowers to seek independent information as part of their decision making process.
‘Money Smart’ an initiative from the Australian Securities and Investment Commission (ASIC) will help you with accessing financial information, safety checks and free financial tools.