The Pepper Self-Employed Advantage home loan makes it easier for self-employed borrowers to purchase or refinance their home or investment property, consolidate their debts, or raise working capital for business purposes.
At Pepper, we understand it’s sometimes challenging to provide all the paperwork necessary to document a borrower’s income – for example, the last two annual tax returns and income tax assessment notices may not be available at the time of application for a loan. Pepper’s alternate income documentation process is designed specifically to meet the unique needs of self-employed or small business owners who are unable to provide the income documentation required by traditional lenders and mortgage insurers*.
Key Features
- No Lenders Mortgage Insurance (“LMI”) required
- Simplified paperwork. No BAS statements required
- Available for refinance (including refinance of non-conforming, private and solicitor loans)
*Approval is subject to Pepper’s lending criteria.
| Maximum Loan Amount |
$1,500,000 (up to 70% LVR) $1,000,000 (up to 80% LVR) |
| Maximum Loan To Value Ratio | 80% |
| Loan Term | 10 to 40 years |
| Credit History | Any number of defaults or judgements registered 2 years prior to application, paid or unpaid. |
| Loan Purpose | Purchase or refinance of owner occupied and investment properties. Finance also available for a variety of purposes, including payment of ATO debts and purchase of business equipment. |
| Income Documentation (PAYG) |
|
| Acceptable Securities | Residential securities in major cities and towns up to a maximum land size of 25 acres (10 hectares) |
| Redraw | Minimum $1,000 |
Interest Rates
| LVR | ABN Registered 24 months+ GST Registered 12 months+ |
ABN Registered >12 months up to 24 months GST Registered >6 months up to 12 months |
||
|---|---|---|---|---|
| Interest Rate | Comparison Rate | Interest Rate | Comparison Rate | |
| Up to 65% | 8.65% | 9.10% | 8.90% | 9.35% |
| >65% up to 70% | 8.99% | 9.48% | 9.24% | 9.73% |
| >70% up to 75% | 9.34% | 9.86% | 9.59% | 10.12% |
| >75% up to 80% | 9.74% | 10.30% | 9.99% | 10.56% |
All Comparison Rates are calculated on the basis of secured credit of $150,000 over a 25 year term. 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.