Finty
Pepper Money

Pepper Money Near Prime Non-standard regulated consumer loan (CRE Loan) - Near Prime Alt Doc

Variable rateOffsetRedraw

Our variable rate home loan options give you the flexibility to manage your money how and when you want. You’ll get access to our online loan portal, the freedom to make additional repayments along with the option for a 100% interest offset sub-account.

Written byDavid Boyd
Interest rate a year, from
9.19%
Comparison rate
Not published
Upfront fees
$825
Annual fee
Not published
Monthly fee
$25

Monthly repayment

$600,000 over 30 years

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What it would cost

At the lowest rate of 9.19% (variable, live in, principal and interest), including the monthly fee. The rate you are offered depends on your deposit and the loan you choose, and upfront fees are not included.

Monthly repayment
$4,935
Total repayments
$1,776,595
Interest and monthly fees
$1,176,595

Rates

Every rate Pepper Money publishes for this loan. LVR is the loan as a share of the property's value: 80% for a 20% deposit.

RatePropertyRepaymentsLVRInterest rateComparison rate
VariableLive inPrincipal and interestUp to 50%9.19%–
VariableLive inPrincipal and interest50% to 60%9.19%–
VariableLive inPrincipal and interest60% to 65%9.34%–
VariableLive inPrincipal and interest65% to 70%9.54%–
VariableLive inPrincipal and interest70% to 75%9.64%–
VariableLive inPrincipal and interest75% to 80%10.24%–
VariableLive inInterest onlyUp to 50%9.19%–
VariableLive inInterest only50% to 60%9.19%–
VariableLive inInterest only60% to 65%9.34%–
VariableLive inInterest only65% to 70%9.54%–
VariableLive inInterest only70% to 75%9.64%–
VariableLive inInterest only75% to 80%10.24%–
VariableInvestmentPrincipal and interestUp to 50%9.19%–
VariableInvestmentPrincipal and interest50% to 60%9.19%–
VariableInvestmentPrincipal and interest60% to 65%9.34%–
VariableInvestmentPrincipal and interest65% to 70%9.54%–
VariableInvestmentPrincipal and interest70% to 75%9.64%–
VariableInvestmentPrincipal and interest75% to 80%10.24%–
VariableInvestmentInterest onlyUp to 50%9.19%–
VariableInvestmentInterest only50% to 60%9.19%–
VariableInvestmentInterest only60% to 65%9.34%–
VariableInvestmentInterest only65% to 70%9.54%–
VariableInvestmentInterest only70% to 75%9.64%–
VariableInvestmentInterest only75% to 80%10.24%–

Comparison rates are for an example loan of $150,000 over 25 years. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Fees and features

Fees

Upfront fees
$825
Annual fee
Not published
Monthly fee
$25

Features

Offset account
Yes
Redraw
Yes
Highest LVR
80%
Loan amount
From $200,000

How it compares

Against the other home loans we compare, for a home you live in with a 20% deposit. Typical means the middle half of them.

Variable rate

10.24%

For a home you live in, paying principal and interest. Typical is 6.62%.

Upfront fees

$825

Typical upfront fees are $600.

Smallest deposit

20%

Most loans need at least 10% of the price.

Pros and cons

Pros

  • An offset account. Money in it is taken off your balance when interest is worked out, so your savings and pay cut the interest while staying easy to reach.
  • Extra repayments. Paying more than the minimum pays the loan off sooner and cuts the interest you pay.
  • Redraw. You can take back extra repayments later if you need the money.
  • Interest only available. Some investors use it to keep repayments down for a few years, though the balance doesn't fall in that time.

Cons

  • A higher variable rate. 10.24%, above the typical 6.62%. On a $600,000 loan, every 0.10% more costs about $600 a year.
  • An early repayment fee. Paying the loan off early or refinancing can cost a fee, which cuts into what you save by repaying sooner.

Similar home loans

Home loans from other lenders with a similar starting variable rate, for a home you live in with a 20% deposit.