Pepper Money Advantage Full Doc Plus Home Loan

The Pepper Money Advantage Full Doc Plus is a home loan suited to those with defaults and/or mortgage arrears.

If you have previous defaults that make getting a home loan more difficult, the Pepper Money Advantage Full Doc Plus may provide a solution for you. This loan considers borrowers that have defaulted in the past, and those with judgments or writs that are over 12 months old, even if they are unpaid. Borrowers with up to two accounts in default over the preceding 12 months may still be accepted for approval. You can also apply for this loan if you're a discharged bankrupt - even after just one day.

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Review by

Marc Terrano is a lead publisher and growth marketer at Finder. He has previously worked at Finder as a publisher for frequent flyer points and home loans, and as a writer, podcast host and content marketer. Marc has a Bachelor of Communications (Journalism) from the University of Technology Sydney. He’s passionate about creating honest and simple reviews and comparisons to help everyone get value for money.

Expert review

Things to consider about the Pepper Money Advantage Full Doc Plus home loan

The Pepper Money Advantage Full Doc Plus Home Loan is more flexible than a traditional banks' home loan. It can be used to purchase a new home, for debt consolidation or to refinance a current home. This includes owner-occupied homes or investment properties. The funds may be used to consolidate any number of debts or used to redraw cash for business purposes and working capital.

If you have a credit impaired history, the Advantage Full Doc Plus may still be an available option for you. This loan will consider applicants with an unlimited number of defaults, judgments, and writs registered over 12 months prior to application. These can be paid or unpaid. It will also consider borrowers with up to two defaults experienced in the last 12 months, and these can be paid or unpaid also. You may also be considered for this loan even if you have up to two months of mortgage arrears (within the last six months), and it also considers those who are a discharged bankrupt.

About this loan

Features and benefits of the Pepper Money Advantage Full Doc Plus Home Loan

  • Loan amount. You can borrow amounts from $1,000,000 with a max LVR of 70%, or up to $7,500,000 up to 80% LVR.
  • Loan to value ratio. The maximum LVR for this home loan is 55%.
  • Loan term. The possible loan terms for this home loan are between 10 years and 40 years.
  • Redraw facility. You can redraw extra payments you've made on this home loan. The minimum redraw amount is $1,000 ($50 minimum online redraw).
  • No LMI payable. No third party lenders mortgage insurance (LMI) approval is required on Pepper Money, although you may have to pay a risk fee.
  • Available for borrowers who are credit impaired. As mentioned above, if defaults are over 12 months old there is no limit on the number of defaults, writs or judgments on the credit report that will be considered. This includes both paid and unpaid defaults. For defaults that are less than 12 months old there can be no more than 2 registered defaults at the time of application (defaults <$1,000 are ignored). This includes both paid and unpaid defaults. Current mortgage can be in arrears no more than 2 months.
  • Top-up available. Additional funds can be requested after six months of on-time payments.

What fees and charges come with this loan?

  • Establishment fee. $995. This fee covers the cost of setting up your account and includes one standard valuation.
  • Monthly administration fee. $15 per month. This fee is charged for the maintenance of your accounts.
  • Legal fees. From $440. Legal fees cover the cost from having your contract written up, all the way to the property title being signed.
  • Mortgage risk fee. Amount varies between 0.75% and 2.00%. The higher the LVR, the higher your mortgage risk fee will be.
  • Discharge fee. $250. This fee is charged if you pay or leave your loan before the agreed period.
  • Title protection fee. There is a Title Protection Fee of $400.

How to apply


This home loan may be suitable for those:

  • With less than perfect credit
  • With past defaults
  • Who are in arrears by no more than two months on your current mortgage and
  • Who have no more than two defaults in the last 12 months

This is a full doc home loan and income and employment are verified.

Information to have handy

You will need:

  • The last two pay slips and a letter of employment is required or alternatively,
  • Latest group certificate, tax assessment notice or three months bank statements are also acceptable forms to prove income.
  • If you are self-employed two years tax returns plus two years tax assessment notices are required to verify income.

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    Default Gravatar
    April 30, 2015

    is this loan facility available to south Africans also

      Default Gravatar
      May 5, 2015

      Hi Richard,

      Thanks for your question.

      To apply for a Pepper Flexi Advantage PLUS home loan, you must be an Australian citizen or have permanent residency in Australia (some temporary visas may be accepted).

      It is advised that you contact Pepper Home Loans directly to discuss your situation.

      I hope you find this useful.


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