Pepper Flexi-Advantage Home Loan

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A closer look at some of the home loan options Pepper Home Loans offers to those with credit impairment.

The Pepper Flexi Advantage range of home loans targets a market of borrowers who are unable to meet the lending criteria of banks and mortgage insurers and want to either buy a home, refinance an existing home loan or roll their debts into their home loan.

General features of a Pepper Flexi Advantage home loan

  • Free additional repayments
  • Up to four loan splits
  • Flexible lending criteria which accepts certain defaults and discharged bankrupts
  • Third party Lenders’ Mortgage Insurance (LMI) approval isn’t required
  • Redraw available
  • Interest-only options
Interest Rate Max Insured LVR Max LVR
Standard LVR >90% up to 95%
8.19% p.a.
Comparison Rate
8.73% p.a.
95% 80%
Standard LVR 55%
5.59% p.a.
Comparison Rate
5.94% p.a.
Standard LVR 55% to 65%
5.69% p.a.
Comparison Rate
6.04% p.a.
65% 55%
Standard LVR 65% to 70%
6.29% p.a.
Comparison Rate
6.70% p.a.
70% 65%
Standard LVR 70% to 75%
6.75% p.a.
Comparison Rate
7.19% p.a.
75% 70%
Standard LVR 75% to 80%
6.95% p.a.
Comparison Rate
7.42% p.a.
80% 75%
Standard LVR 80% to 85%
7.3% p.a.
Comparison Rate
7.83% p.a.
85% 80%
Standard LVR 85% to 90%
7.99% p.a.
Comparison Rate
8.53% p.a.
90% 80%
Product NamePepper Money Advantage Full Doc Home Loan
Interest Rate TypeVariable
Comp Rate^ (p.a.)
Minimum Loan Amount$50,000
Maximum Loan Amount$2,500,000
Minimum Loan Term10 years
Maximum Loan Term40 years
Loan Redraw FacilityYes
Split Loan FacilityYes
Suitable for InvestmentYes
Extra RepaymentYes
Available as equity loan/line of creditNo
Repayment TypePrincipal & Interest or Interest Only Options
Application Fee$995
Lender's Legal Fee$440
Valuation Fee$0
Ongoing Fees$15 monthly ($180 p.a.)
Discharge Fee$250


  • Excellent opportunity for people with bad credit rating to get a home loan
  • Make extra payments with no penalties and access extra funds with free redraw facility
  • Get your interest rate reduced after making all payments on time for 12 months
  • There is a $0 valuation fee


  • There is a $995 application fee
  • There is a $440 legal fee
  • There is a $15 annual fee
  • A $250 discharge fee applies when you close your home loan account

Features of the Pepper Flexi Advantage home loan range

A Pepper Flexi Advantage home loan consists of the following features:

  • The mortgage may be taken out for any period from 10 years to a maximum of 40 years.
  • This particular home loan can be repayable as interest-only for one to five years, or you can make principal and interest repayments on a regular basis. Repayments can be made on a weekly, fortnightly or monthly basis when you are paying off both principal and interest but monthly only when your repayments are interest-only.
  • You can pay any amount of additional repayments whenever you have the extra money available. The amount you do pay additionally is totally unlimited. Redraw facilities are also available with a minimum redraw of $50 online or $1,000 manually at any one time. This feature is only available when the loan is being repaid on the basis of principal and interest. It's not available when you're making interest-only repayments.
Pepper Flexi Advantage (full doc)Pepper Flexi Advantage Plus (full doc)
FeaturesHas a relatively wide eligibility for home loan products in Australia for a huge range of purposes.One of the widest eligibility home loan products in Australia for a huge range of purposes.
Credit background allowedUnlimited number of judgements or defaults which have been registered at least one year before you apply, whether they are paid or unpaid are considered. Less than 1 month of mortgage arrears within the last 6 months are also considered.Unlimited number of defaults or judgements if they are registered more than one year before your application, whether they are paid or unpaid are considered. Applicants with up to two registered defaults within a year of application may also qualify. In addition, up to two months of current mortgage arrears may be accepted.
Want to know more about the features?Click here for the reviewClick here for the review

Compare the Flexi Advantage range

Rates last updated July 18th, 2018
Loan purpose
Offset account
Loan type
Your filter criteria do not match any product
Interest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment
Pepper Money Advantage Full Doc Plus Home Loan
A full doc loan with low monthly fee.
$995 $15 monthly ($180 p.a.) 80% Enquire now More info


Fees you can avoid
  • Redraw fee: $0. There's no fee for redrawing your additional funds with this loan.
Fees you can’t avoid
  • Mortgage Risk Fee. This fee starts from 0.75% of the loan amount. The applicable fee will depend on your LVR, and can be as high as 2% of the loan amount.
  • Establishment fee. There is an establishment fee of $995 that includes one standard valuation charge.
  • There will be legal fees of approximately $440 to pay.
  • Title Protection Fee. There is a Title Protection Fee of $400.
  • Discharge fee. As your loan will eventually end, you’ll be up for a discharge fee of $250 when that rewarding time comes.
  • Monthly administration fee of $15 per month. This fee is charged for the maintenance of your accounts.

How to apply for a home loan in the Pepper Flexi Advantage range

Applicants will find their individual eligibility to access such a mortgage is based on their own specific circumstances, not on their credit score which many other lenders rely on.

Pepper is part of the Credit and Investments Ombudsman Limited (CIO), so you can have the peace of mind that you’ll have independent supervision of Pepper on your side.

Document requirements

To qualify for a Pepper Flexi Advantage you must be able to produce at least:

  • Your last two PAYG payslips issued by your employer plus any of the following: a letter confirming your employment or alternatively your latest taxation group certificate, your latest tax assessment notice or 3 months bank statements.
  • Or if you are self-employed, your last 2 years tax returns and last 2 years tax assessment notices.
  • If you are borrowing for refinance purposes you must be able to provide evidence of satisfactory loan repayments for the previous six months.

This home loan is available to a wide range of applicants and takes into consideration each individual home buyer's specific situation rather than just your credit

Enquire about this home loan
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Pepper Money Advantage Full Doc Home Loan

  • Interest Rate


  • Comparison Rate


  • App Fee / Annual Service Fee

    $995 / $15

  • Max LVR

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