Compare Pepper home loan rates

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2.84%

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2.84%

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Pepper is a non-bank lender that has served over 100,000 Australians since 2001. Pepper is a specialist lender that provides home loans to customers that fall outside traditional borrower profiles.

Pepper has won several awards, including Best Non-Bank Lender in 2018, and Best Specialist Lender and Best Self Employed Lender for 6 years in a row.

Pepper has created a range of home loan products that serve non-traditional borrowers, including options for the self-employed; for those who have had credit issues; and for those who are over-committed financially.

Pepper home loan repayment calculator

Thinking about taking out a home loan with Pepper? Use our home loan calculator to see how much you’d have to repay under different borrowing scenarios. You can also see how Pepper home loans compare with other options.

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Pepper home loans rates

Now showing 1 - 71 of 71 home loans

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Product	Advertised Rate	Estimated upfront fees	Comparison Rate*	Ongoing fee
Essential Home Loan	3.08% Variable	$1039	3.28%	$10	More details
Essential Home Loan	3.18% Variable	$1039	3.38%	$10	More details
Essential Home Loan	3.24% Variable	$1039	3.44%	$10	More details
Essential Home Loan	3.29% Variable	$1039	3.49%	$10	More details
Essential Home Loan	3.59% Variable	$1039	3.79%	$10	More details
Essential Home Loan	3.79% Variable	$1039	3.98%	$10	More details
Essential Home Loan	3.87% Variable	$1039	4.06%	$10	More details
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Essential Home Loan	3.87% Variable	$1039	4.06%	$10	More details
Essential Home Loan	3.87% Variable	$1039	4.06%	$10	More details
Essential Home Loan	3.87% Variable	$1039	4.06%	$10	More details
Essential Home Loan	3.87% Variable	$1039	4.06%	$10	More details
Essential Home Loan	3.87% Variable	$1039	4.06%	$10	More details
Essential Home Loan	4.06% Variable	$1039	4.25%	$10	More details
Essential Home Loan	4.06% Variable	$1039	4.25%	$10	More details
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Essential Home Loan	4.06% Variable	$1039	4.25%	$10	More details
Essential Home Loan	4.06% Variable	$1039	4.25%	$10	More details
Essential Home Loan	4.21% Variable	$1039	4.59%	$10	More details
Essential Home Loan	4.21% Variable	$1039	4.59%	$10	More details
Easy Home Loan	4.26% Variable	$1435	4.63%	$15	More details
Essential Home Loan	4.26% Variable	$1039	4.66%	$10	More details
Easy Home Loan	4.45% Variable	$1435	4.86%	$15	More details
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Easy Home Loan	4.45% Variable	$1435	4.89%	$15	More details
Essential Home Loan	4.66% Variable	$1039	5.11%	$10	More details
Essential Home Loan	4.66% Variable	$1039	5.11%	$10	More details
Essential Home Loan	4.59% Variable	$1039	5.12%	$10	More details
Easy Home Loan	4.79% Variable	$1435	5.23%	$15	More details
Easy Home Loan	5.11% Variable	$1435	5.48%	$15	More details
Easy Home Loan	5.11% Variable	$1435	5.48%	$15	More details
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Easy Home Loan	5.09% Variable	$1435	5.56%	$15	More details
Essential Home Loan	4.92% Variable	$1039	5.58%	$10	More details
Essential Home Loan	4.92% Variable	$1039	5.58%	$10	More details
Easy Home Loan	5.31% Variable	$1435	5.73%	$15	More details
Easy Home Loan	5.31% Variable	$1435	5.73%	$15	More details
Advantage Home Loan	5.51% Variable	$1435	5.88%	$15	More details
Advantage Home Loan	5.51% Variable	$1435	5.88%	$15	More details
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Easy Home Loan	5.51% Variable	$1435	5.95%	$15	More details
Easy Home Loan	5.51% Variable	$1435	5.95%	$15	More details
Advantage Home Loan	5.61% Variable	$1435	5.98%	$15	More details
Advantage Home Loan	5.61% Variable	$1435	5.98%	$15	More details
Easy Home Loan	5.66% Variable	$1435	6.10%	$15	More details
Easy Home Loan	5.66% Variable	$1435	6.10%	$15	More details
Easy Home Loan	5.79% Variable	$1435	6.29%	$15	More details
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Advantage Home Loan	5.96% Variable	$1435	6.37%	$15	More details
Advantage Home Loan	5.96% Variable	$1435	6.37%	$15	More details
Advantage Home Loan	6.06% Variable	$1435	6.49%	$15	More details
Advantage Home Loan	6.06% Variable	$1435	6.49%	$15	More details
Advantage Home Loan	6.21% Variable	$1435	6.63%	$15	More details
Advantage Home Loan	6.21% Variable	$1435	6.63%	$15	More details
Easy Home Loan	6.32% Variable	$1435	6.80%	$15	More details
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Easy Home Loan	6.32% Variable	$1435	6.80%	$15	More details
Advantage Home Loan	6.61% Variable	$1435	7.06%	$15	More details
Advantage Home Loan	6.61% Variable	$1435	7.06%	$15	More details
Easy Home Loan	6.6% Variable	$1435	7.11%	$15	More details
Easy Home Loan	6.6% Variable	$1435	7.11%	$15	More details
Advantage Home Loan	6.67% Variable	$1435	7.12%	$15	More details
Advantage Home Loan	6.67% Variable	$1435	7.12%	$15	More details
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Advantage Home Loan	6.87% Variable	$1435	7.35%	$15	More details
Advantage Home Loan	6.87% Variable	$1435	7.35%	$15	More details
Easy Home Loan	6.79% Variable	$1435	7.37%	$15	More details
Advantage Home Loan	7.11% Variable	$1435	7.59%	$15	More details
Advantage Home Loan	7.11% Variable	$1435	7.59%	$15	More details
Advantage Home Loan	7.22% Variable	$1435	7.76%	$15	More details
Advantage Home Loan	7.22% Variable	$1435	7.76%	$15	More details
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Advantage Home Loan	7.36% Variable	$1435	7.88%	$15	More details
Advantage Home Loan	7.36% Variable	$1435	7.88%	$15	More details
Easy Home Loan	7.61% Variable	$1435	8.24%	$15	More details
Easy Home Loan	7.61% Variable	$1435	8.24%	$15	More details
Advantage Home Loan	7.91% Variable	$1435	8.46%	$15	More details
Advantage Home Loan	7.91% Variable	$1435	8.46%	$15	More details
Advantage Home Loan	8.11% Variable	$1435	8.72%	$15	More details
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Advantage Home Loan	8.11% Variable	$1435	8.72%	$15	More details

Data last updated on 18 Jan 2020

Read our important disclosures and general advice warning

Pros

Award winning loan products.
Flexible loan options.
Cater to borrowers with specific needs like lo doc loans and self-employed.
These loans have broad eligibility criteria.

Cons

No branch access.
Less competitive interest rates.

Pepper customer service

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

How to Apply

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 advisable to think about how much money you could conceivably 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 material.
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.

About Pepper home loans

Pepper is a specialist lender, and as such, its offerings differ from 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 loans.

Pepper home loans generally charge moderate establishment and ongoing fees.

Pepper home loan rates

Pepper home loan interest rates vary from product to product. In general, Pepper home loan rates typically range from moderate to high. While Pepper interest rates are not the most affordable on the market, they’re not the most expensive either.

As a general rule, borrowers with lower LVRs get lower interest rates than 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.

Because Pepper is an alternative lender, it’s able to charge higher rates that are still competitive. Pepper’s flexible home loans can be valuable to non-traditional borrowers who may not be able to take out home loans from banks, which means Pepper can charge slightly higher rates.

Pepper home loans review

Pepper’s home loan products are valuable for customers who don’t fit within traditional borrower parameters. 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 are not as low as other online-only lenders who cater to traditional borrowers.

While Pepper’s home loan rates typically sit between moderate and high, their fees tend to be moderate. While fees may vary from product to product, Pepper home loans tend to charge an establishment fee as well as ongoing monthly service fees.

RateCity Staff

FAQs

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They’re impersonal

Most comparison sites give you information about rates, fees and features, but expect you’ll pay more with a low advertised rate and $400 ongoing fee or a slightly higher rate and no ongoing fee. The answer is different for each borrower and depends on a number of variables, in particular how big your loan is. Comparisons are either done based on just today or projected over a full 25 or 30 year loan. That’s not how people borrow these days. While you may take a 30 year loan, most borrowers will either upgrade their house or switch their home loan within the first five years.

You’re also expected to know exactly which features you want. This is fine for the experienced borrower, but most people know some flexibility is a good thing, but don’t know exactly which features offer more flexibility than others.

What is the flexibility score?

Today’s home loans often try to lure borrowers with a range of flexible features, including offset accounts, redraw facilities, repayment frequency options, repayment holidays, split loan options and portability. Real Time Ratings™ weights each of these features based on popularity and gives loans a ‘flexibility score’ based on how much they cater to borrowers’ needs over time. The aim is to give a higher score to loans which give borrowers more features and options.

They’re not always timely

In today’s competitive home loan market, lenders are releasing new offers almost daily. These offers are often some of the most attractive deals in the market, but won’t get rated by traditional ratings systems for up to a year.

The assumptions are out of date

The comparison rate is based on a loan size of $150,000 and a loan term of 25 years. However, the typical loan size is much higher than that. Million dollar loans are becoming increasingly common, especially if you live in metropolitan parts of Australia, like Sydney and Melbourne. It’s also uncommon for borrowers to hold a loan for 25 years. The typical shelf life for a home loan is a few years.

The other problem is because it’s a percentage, the difference between 3.9 or 3.7 per cent on a $500,000 doesn’t sound like much, but equals around $683 a year. Real Time Ratings™ not only looks at the difference in the monthly repayments, but it will work out the actual cost difference once fees are taken into consideration.

Details

Also known as a construction home loan, a building in course of erection (BICOE) loan loan allows you to draw down funds as a building project advances in order to pay the builders. This option is available on selected variable rate loans.

Details

The answer to this question is dependent on your personal circumstances – there is no best time for refinancing that will apply to everyone.

If you want a lower interest rate but are happy with the other aspects of your loan it may be worth calling your lender to see if you can negotiate a better deal. If you have some equity up your sleeve – at least 20 per cent – and have done your homework to see what other lenders are offering new customers, pick up the phone to your bank and negotiate. If they aren’t prepared to offer you lower rate or fees, then you’ve already done the research, so consider switching.

Details

Refinancing your home loan can involve a bit of paperwork but if you are moving on to a lower rate, it can save you thousands of dollars in the long-run. The first step is finding another loan on the market that you think will save you money over time or offer features that your current loan does not have. Once you have selected a couple of loans you are interested in, compare them with your current loan to see if you will save money in the long term on interest rates and fees. Remember to factor in any break fees and set up fees when assessing the cost of switching.

Once you have decided on a new loan it is simply a matter of contacting your existing and future lender to get the new loan set up. Beware that some lenders will revert your loan back to a 25 or 30 year term when you refinance which may mean initial lower repayments but may cost you more in the long run.

Details

Home loans spanning 40 years are offered by lenders such as BCU, Teacher’s Mutual Bank and Pepper. Even though these loans exist on the market, they are not overwhelmingly popular as the extra interest you pay compared to a 30-year loan can be over $100,000 or more.

Details

If you are on a variable rate home loan, every so often your rate will be subject to increases and decreases. Rate changes are determined by your lender, not the Reserve Bank of Australia, however often when the RBA changes the cash rate, a number of banks will follow suit, at least to some extent. You can use RateCity cash rate to check how the latest interest rate change affected your mortgage interest rate.

When your rate rises, you will be required to pay your bank more each month in mortgage repayments. Similarly, if your interest rate is cut, then your monthly repayments will decrease. Your lender will notify you of what your new repayments will be, although you can do the calculations yourself, and compare other home loan rates using our mortgage calculator.

There is no way of conclusively predicting when interest rates will go up or down on home loans so if you prefer a more stable approach consider opting for a fixed rate loan.

Details

Following the Global Financial Crisis, no-deposit loans, as they once used to be known, have largely been removed from the market. Now, if you wish to enter the market with no deposit, you will require a property of your own to secure a loan against or the assistance of a guarantor.

Details

Real Time Ratings^TM is the only online system that ranks the home loan market based on your personal borrowing preferences. Until now, home loans have been rated based on outdated data. Our system is unique because it reacts to changes as soon as we update our database.

Details

The home loan market is complex. With almost 4,000 different loans on offer, it’s becoming increasingly difficult to work out which loans work for you.

That’s where Real Time Ratings^TM can help. Our system automatically filters out loans that don’t fit your requirements and ranks the remaining loans based on your individual loan requirements and preferences.

Best of all, the ratings are calculated in real time so you know you’re getting the most current information.

Details

The fastest way to find out what the lowest interest rates on the market are is to use a comparison website.

While a low interest rate is highly preferable, it is not the only factor that will determine whether a particular loan is right for you.

Loans with low interest rates can often include hidden catches, such as high fees or a period of low rates which jumps up after the introductory period has ended.

To work out the best value for money, have a look at a loan’s comparison rate and read the fine print to get across all the fees and charges that you could be theoretically charged over the life of the loan.

Details

Compare Pepper home loan rates

Discount Variable Home Loan

Pepper home loan repayment calculator

Pepper home loans rates

Pepper customer service

How to Apply

About Pepper home loans

Pepper home loan rates

Pepper home loans review

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