Pepper

Pepper Easy Plus Investment Loan (LVR < 55%) (Principal & Interest)

Advertised Rate

4.34%

Variable

Comparison Rate*

4.71%

Maximum LVR
55%
Real Time Rating™

1.92

/ 5
Monthly Repayment

$1,492

based on $300,000 loan amount for 25 years

Advertised Rate

4.34%

Variable

Comparison Rate*

4.71%

Maximum LVR
55%
Real Time Rating™

1.92

/ 5
Monthly Repayment

$1,492

based on $300,000 loan amount for 25 years

Calculate repayment for Pepper product

I'd like to borrow

$

Loan term

years

Your estimated repayment

$1,492

based on $300,000 loan amount for 25 years

Based on your details, Pepper is available through brokers

MICHAEL KIANG

5.0
7 Reviews

Get expert advice from a home loan specialist.

MICHAEL is a qualified mortgage broker. Request a callback to discuss your home loan needs.

Response time: in a day

Our brokers call during business hours between 9.00am to 6.00pm.

Azm Khan

5.0
43 Reviews

Get expert advice from a home loan specialist.

Azm is a qualified mortgage broker. Request a callback to discuss your home loan needs.

Response time: in an hour

Our brokers call during business hours between 9.00am to 6.00pm.

Gali Alon

5.0
13 Reviews

Get expert advice from a home loan specialist.

Gali is a qualified mortgage broker. Request a callback to discuss your home loan needs.

Response time: in 4 hours

Our brokers call during business hours between 9.00am to 6.00pm.

Pros and Cons

Pros and Cons

  • 100% full offset account
  • Extra repayments and redraw facility
  • Free redraw facility
  • Split account option
  • Ongoing fee
  • Discharge fee at end of loan
  • Maximum loan amount is limited to 55% of the property's value
  • No repayment holidays

Pepper Features and Fees

Pepper Features and Fees

Details

Maximum LVR

55%

Total Repayments

Interest rate type

Variable

Borrowing range

Suitable for

Investors

Loan term range

10 - 40 years

Principal & interest

Interest only

Applicable states

ACT, NSW, NT, QLD, SA, TAS, VIC, WA

Make repayments

Fortnightly, Monthly, Weekly

Features

Extra repayments

Unlimited extra repayments

Redraw facility

Redraw fee: $0

Split interest facility

Loan portable

Repayment holiday available

Allow guarantors

Available for first home buyers

Fees

Total estimated upfront fees

$1835

Application fee

$995

Valuation fee

$0

Settlement fee

$0

Other upfront fee

$400

Ongoing fee

$15 monthly

Discharge fee

$250

Application method

Online

Phone

In branch

Other Restrictions

Interest Only not available for loan terms greater than 30 years. Other Upfront Fee: $400 Title Protection Fee

Pros and Cons

  • 100% full offset account
  • Extra repayments and redraw facility
  • Free redraw facility
  • Split account option
  • Ongoing fee
  • Discharge fee at end of loan
  • Maximum loan amount is limited to 55% of the property's value
  • No repayment holidays

Pepper Features and Fees

Details

Maximum LVR

55%

Total Repayments

Interest rate type

Variable

Borrowing range

Suitable for

Investors

Loan term range

10 - 40 years

Principal & interest

Interest only

Applicable states

ACT, NSW, NT, QLD, SA, TAS, VIC, WA

Make repayments

Fortnightly, Monthly, Weekly

Features

Extra repayments

Unlimited extra repayments

Redraw facility

Redraw fee: $0

Split interest facility

Loan portable

Repayment holiday available

Allow guarantors

Available for first home buyers

Fees

Total estimated upfront fees

$1835

Application fee

$995

Valuation fee

$0

Settlement fee

$0

Other upfront fee

$400

Ongoing fee

$15 monthly

Discharge fee

$250

Application method

Online

Phone

In branch

Other Restrictions

Interest Only not available for loan terms greater than 30 years. Other Upfront Fee: $400 Title Protection Fee

Pepper is available through brokers

FAQs

Mortgage Calculator, Loan Purpose

This is what you will use the loan for – i.e. investment. 

What is the ratings scale?

The ratings are between 0 and 5, shown to one decimal point, with 5.0 as the best. The ratings should be used as an easy guide rather than the only thing you consider. For example, a product with a rating of 4.7 may or may not be better suited to your needs than one with a rating of 4.5, but both are probably much better than one with a rating of 1.2.

How is the flexibility score calculated?

Points are awarded for different features. More important features get more points. The points are then added up and indexed into a score from 0 to 5.

Mortgage Balance

The amount you currently owe your mortgage lender. If you are not sure, enter your best estimate.

Does each product always have the same rating?

No, the rating you see depends on a number of factors and can change as you tell us more about your loan profile and preferences. The reasons you may see a different rating:

  • Lenders have made changes. Our ratings show the relative competitiveness of all the products listed at a given time. As the listing change, so do the ratings.
  • You have updated you profile. If you increase your loan amount, the impact of different rates and fees will change which loans are the lowest cost for you.
  • You adjust your preferences. The more you search for flexible loan features, the more importance we assign to the Flexibility Score. You can also adjust your Flexibility Weighting yourself, which will recalculate the ratings with preference given to more flexible loans.

Why is it important to get the most up-to-date information?

The mortgage market changes constantly. Every week, new products get launched and existing products get tweaked. Yet many ratings and awards systems rank products annually or biannually.

We update our product data as soon as possible when lenders make changes, so if a bank hikes its interest rates or changes its product, the system will quickly re-evaluate it.

Nobody wants to read a weather forecast that is six months old, and the same is true for home loan comparisons.

What happens to your mortgage when you die?

There is no hard and fast answer to what will happen to your mortgage when you die as it is largely dependent on what you have set out in your mortgage agreement, your will (if you have one), other assets you may have and if you have insurance. If you have co-signed the mortgage with another person that person will become responsible for the remaining debt when you die.

If the mortgage is in your name only the house will be sold by the bank to cover the remaining debt and your nominated air will receive the remaining sum if there is a difference. If there is a turn in the market and the sale of your house won’t cover the remaining debt the case may go to court and the difference may have to be covered by the sale of other assets.  

If you have a life insurance policy your family may be able to use some of the lump sum payment from this to pay down the remaining mortgage debt. Alternatively, your lender may provide some form of mortgage protection that could assist your family in making repayments following your passing.

How often is your data updated?

We work closely with lenders to get updates as quick as possible, with updates made the same day wherever possible.

Mortgage Calculator, Interest Rate

The percentage of the loan amount you will be charged by your lender to borrow. 

Mortgage Calculator, Repayments

The money you pay back to your lender at regular intervals. 

What is breach of contract?

A failure to follow all or part of a contract or breaking the conditions of a contract without any legal excuse. A breach of contract can be material, minor, actual or anticipatory, depending on the severity of the breaches and their material impact.

What is appraised value?

An estimation of a property’s value before beginning the mortgage approval process. An appraiser (or valuer) is an expert who estimates the value of a property. The lender generally selects the appraiser or valuer before sanctioning the loan.

What does going guarantor' mean?

Going guarantor means a person offers up the equity in their home as security for your loan. This is a serious commitment which can have major repercussions if the person is not able to make their repayments and defaults on their loan. In this scenario, the bank will legally be able to the guarantor until the debt is settled.

Not everyone can be a guarantor. Lenders will generally only allow immediate family members to act as a guarantor but this can sometimes be stretched to include extended family depending on the circumstances.

Monthly Repayment

Your current monthly home loan repayment. To accurately calculate how much you could save, an accurate payment figure is required. If you are not certain, check your bank statement.

Mortgage Calculator, Property Value

An estimate of how much your desired property is worth. 

Remaining loan term

The length of time it will take to pay off your current home loan, based on the currently-entered mortgage balance, monthly repayment and interest rate.

Who offers 40 year mortgages?

Home loans spanning 40 years are offered by select lenders, though the loan period is much longer than a standard 30-year home loan. You're more likely to find a maximum of 35 years, such as is the case with Teacher’s Mutual Bank

Currently, 40 year home loan lenders in Australia include AlphaBeta Money, BCU, G&C Mutual Bank, Pepper, and Sydney Mutual Bank.

Even though these lengthier loans 35 to 40 year loans do 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.

Mortgage Calculator, Loan Amount

How much you intend to borrow. 

What is bridging finance?

A loan of shorter duration taken to buy a new property before a borrower sells an existing property, usually taken to cover the financial gap that occurs while buying a new property without first selling an older one.

Usually, these loans have higher interest rates and a shorter repayment duration.

What is a redraw fee?

Redraw fees are charged by your lender when you want to take money you have already paid into your mortgage back out. Typically, banks will only allow you to take money out of your loan if you have a redraw facility attached to your loan, and the money you are taking out is part of any additional repayments you’ve made. The average redraw fee is around $19 however there are plenty of lenders who include a number of fee-free redraws a year. Tip: Negative-gearers beware – any money redrawn is often treated as new borrowing for tax purposes, so there may be limits on how you can use it if you want to maximise your tax deduction.