Self employed or have bad credit? Pepper Money offers financial solutions for borrowers with impaired credit histories.
Just because you have an unusual financial history doesn't mean you can't get a home loan. A negative mark on your credit file doesn't have to exclude you from financial solutions. Pepper Money is a leading specialist lender offering home loans for prime and non-conforming borrowers who are employed on Pay As You Go (PAYG) or self-employed.
If you can get together a 10% deposit and aren't currently bankrupt, Pepper Money can offer you the opportunity to get a home loan or to consolidate your debts into a new home loan.
Compare Pepper Money home loans
Who is Pepper Money?
Pepper Money is a non-bank lender specialising in helping self-employed borrowers and borrowers who've had some rough patches in their credit history. While Pepper is a homegrown brand, it has expanded to be a global credit provider, with offices in Spain, South Korea, Ireland and the UK.
How can Pepper Money home loans benefit me?
- Wide eligibility criteria. The home loans that Pepper Money offers can suit a variety of people, as long as you can produce a 10% deposit and are not currently bankrupt. Whether you are self-employed, investing, are credit impaired or don't conform to the traditional lenders' lending criteria, Pepper Money can offer loans to people with previous lending defaults, judgements and writs against them. This can, in certain cases, include unpaid defaults.
- Consolidate as many debts as you like. Most lenders only let you consolidate up to four debts. Pepper Money will let you consolidate as many as you like.
- No Lenders Mortgage Insurance (LMI). There is no third party lenders mortgage insurance approval.
- Flexible uses. A Pepper Money home loan may be used to pay outstanding ATO debts by tapping into the equity of your home.
- You can apply from one day after you've been discharged. Pepper Money can consider your loan application one day after being discharged from bankruptcy. Most lenders will require that you've been discharged for a minimum of two years.
- You need have been trading for a minimum of one year. If you're a business owner, most lenders will require two years' worth of your Business Bank Statement (BBS) or Business Activity Statement (BAS). Pepper Money only requires one.
- You can still have unpaid defaults. You can have any number of defaults or judgements registered 12 months prior to your application, paid or unpaid.
How to apply for a home loan from Pepper Money
When you apply for a home loan with Pepper Money you can be sure that they will only lend what you can afford to pay. You can read more about Pepper Money home loans and compare them by clicking any of the links in the table above. This will take you to a review of the home loan, explaining who it suits, how to apply and more.
Am I eligible?
- You need at least 10% deposit available
- You are not currently bankrupt
What documentation would I be required to provide?
For a full doc loan:
- PAYG - Last two pay slips plus either a letter of employment, latest group certificate, tax assessment notice or three months of bank statements
- Self employed - Last two years' tax returns plus two years' tax assessment notice
For an alt doc loan:
- Your ABN has been registered for 12 months
- GST registered for six months
- Declaration of financial position, plus six months of BBS, six months of BAS or Pepper Money Accountant's Letter. A Pepper Money Accountant's Letter is a template Pepper Money provides your accountant to fill in and return.
Pepper Money's home loans have a variety of features and flexible criteria, so you can ensure you are getting a product that will suit your needs.