Pepper Money Advantage Alt Doc Plus Review | Finder

Pepper Money Advantage Alt Doc Plus Home Loan

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The Pepper Money Advantage Alt Doc Plus Home Loan is geared to self-employed individuals who have had issues with their credit history

Home loan applicants who are self-employed can sometimes have difficulty obtaining finance to purchase or refinance a home. With the Pepper Money Advantage Alt Doc Plus, you may be able to obtain finance even if you have bad marks on your credit history. Pepper also offers flexibility with methods of income verification.

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Expert review

Marc Terrano

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

The home loan is an alternative doc loan (‘alt doc’) which is similar to low-doc. Income is verified, but non-traditional methods of verification are accepted. The business owner can produce two years of tax returns as eligible verification. If two years of up to date tax returns cannot be provided, Pepper Money may accept several other forms of income documents that can be used to verify the business owner’s income.

This loan is available for refinancers including non-conforming, private or solicitor loans. Acceptable properties must be located in major cities and towns. The maximum acreage accepted is up to 10 hectares.

About this loan

What are the features and benefits of the Pepper Money Advantage Alt Doc Plus?

  • Loan to value ratio. The maximum loan to value ratio you're able to take out will depend on the total dollar amount of the loan. If you borrow up to $750,000, you could avail of a maximum LVR of 55%, whereas if you borrow up to $1,000,000 you may avail of a maximum LVR of 70%.
  • Loan term. The loan terms offered with the Self-Employed Advantage PLUS is between 10 years and 40 years (interest only available only for up to 30 year loans).
  • No LMI payable. Lenders Mortgage Insurance (LMI) approval is not required from a third party on this loan, although depending on your application you may have to pay a risk fee.
  • Less than perfect credit history still eligible. Your credit history can include defaults and still be considered with this home loan. There can be unlimited defaults that are aged over 24 months. Two defaults registered between 12 and 24 months may also be considered. These can be paid or unpaid. Your current home loan payments can be no more than two months in arrears that occurred in the last 6 months Defaults less than $1,000 will always be ignored.
  • Redraw facility. This home loan allows you to make extra repayments and then redraw them if you need them. Note that there's a minimum manual redraw of $1,000 and a $50 minimum online redraw.
  • Top-up facility. After six months of on-time payments, borrowers can apply for additional funds.

What fees and charges come with this loan?

  • Establishment fee. $995. This fee is charged to cover the cost of setting up your loan.
  • Mortgage risk fee. Up to 2% of the amount advanced. This fee is to protect the lender and is a substitute for LMI.
  • Title protection fee. $400 per loan. Offers protection over illegal building structures.
  • Monthly admin fee. $15 per month. This is to cover the cost of maintaining your account.
  • Legal fees. $440. This covers the cost of the legal paperwork and consultation involved.
  • Discharge fee. The last fee you'll have with Pepper Money is a discharge fee of $250 when your loan is paid.

How to apply

You can apply for a Pepper Money Advantage Alt Doc Plus Home Loan by clicking on the apply links available on this page. A package with the application, summary of the loan details and next steps will be mailed to you. From there, income documentation and business verifications will be completed in addition to a property assessment.

Requirements and documentation

  • ABN registered for at least 12 months, GST registered for at least 6 months
  • Declaration of financial position PLUS one other form of income verification. This verification can be 6 months of business bank statements or six months of BAS.

Once your application has been submitted, a Pepper Money Private Account Manager will assess your financial situation and determine which home loan product will best meet your financial needs.

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