Pepper Money Essential Home Loan

Enjoy a competitive variable interest rate, flexible repayment options and a redraw facility.

The Pepper Money Essential Home Loan is well suited for borrowers who have a clean credit history. It's a flexible home loan with a high maximum LVR, extra repayment functionality, and the ability to redraw available funds whenever needed.

No genuine savings are required to qualify for this loan on LVRs up to 80% (for non-genuine savings above 80%, you can take advantage of the PLUS version of the loan, which allows more flexibility such as no genuine savings no matter the LVR, cash out for a range of acceptable purposes as well as an interest only option, for a slightly higher rate), and you're able to also consolidate up to four debts.

Interest Rate Max Insured LVR Max LVR
LVR >55% up to 65%
3.55% p.a.
Comparison Rate
3.75% p.a.
65% 55%
LVR >65 up to 70%
3.55% p.a.
Comparison Rate
3.75% p.a.
70% 65%
LVR >70% up to 75%
3.55% p.a.
Comparison Rate
3.75% p.a.
75% 70%
LVR >75% up to 80%
3.69% p.a.
Comparison Rate
3.88% p.a.
80% 75%
LVR >80% up to 85%
3.99% p.a.
Comparison Rate
4.18% p.a.
85% 80%
LVR >85% up to 90%
4.29% p.a.
Comparison Rate
4.69% p.a.
90% 80%
LVR >90% up to 95%
4.69% p.a.
Comparison Rate
5.22% p.a.
95% 80%
LVR up to 55%
3.36% p.a.
Comparison Rate
3.56% p.a.
55% 55%
Product NamePepper Money Essential Prime Full Doc Home Loan
Interest Rate TypeVariable
Comp Rate^ (p.a.)
Minimum Loan Amount$100,000
Maximum Loan Amount$2,000,000
Minimum Loan Term10 years
Maximum Loan Term30 years
Maximum LVR55%
Maximum Insured LVR95%
Mortgage Offset AccountYes
Mortgage 100% OffsetYes
Loan Redraw FacilityYes
Split Loan FacilityYes
Loan PortableYes
Suitable for InvestmentYes
Extra RepaymentYes
Available as equity loan/line of creditNo
Repayment TypePrincipal & Interest or Interest Only Options
Application Fee$0
Lender's Legal Fee$440
Ongoing Fees$10 monthly ($120 p.a.)
Settlement Fee$0
Discharge Fee$250


  • Suitable for Investment.
  • Redraw Facility.
  • Extra repayment are available.
  • Borrow up to 95% of the property's value


  • $0 application fee.
  • There is $10 per month account fee.
  • $440 Legal fee.
  • $250 discharge fee.

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.

What are some things I should be mindful about?

The Pepper Money Essential home loan can be used for owner occupied homes or investment properties. Borrowers can use the funds for a purchase, a refinance or debt consolidation.

This review is for the full documentation version of the loan, meaning you will need to supply Pepper Money with information about your employment, including payslips. Pepper Money also offers an alternative documentation (low doc) version of the Pepper Money Essentials home loan for self-employed borrowers, which has slightly different requirements.

Qualifying homes must be no more than 10 hectares in size. Vacant land up to 1.01 hectares is also accepted.

What are the features of the Pepper Money Essential Full Doc home loan

  • Loan to value ratio. The Maximum Loan to value for loans up to $2,000,000 is 70% LVR. For loans up to $1,500,000 the maximum LVR is 75%. For loans up to $1,000,000 the maximum LVR is 55%. For loans up to $750,000, the maximum LVR is 90% and for loans up to $650,000 the maximum is 95% LVR.
  • Additional repayments. You can make extra payments on this home loan at any time.
  • Unlimited free redraws. Minimum manual redraw is $1,000 and minimum online redraw is $50.
  • Loan term. Loan terms are from 10 years to 30 years.
  • Split rate. You can split this home loan up to four times.


  • Establishment fee. $0. This covers the cost of setting up a new account, and also includes one standard valuation.
  • Lender protection fee. Amount varies. If your LVR is greater than 55% for full doc loans then this fee applies.
  • Monthly admin fee. $10 per month, for a total of $10 per year. This covers the cost of maintaining your account.
  • Legal fee. From $440. This fee is charged to cover all legal expenses including the paperwork and someone to review to contracts.
  • Discharge fee. $250 per loan account. This is the fee you'll pay to leave this loan.

How to apply for this loan

Pepper Money will review your financial circumstances and recommend the most suitable loan for your circumstances. A package is then mailed to you which will cover the loan application, a summary of the terms and fees discussed along with next steps to complete the loan application.

  • You'll need at least 10% deposit
  • You can have minor non-financial defaults up to $500 considered, but they must be paid
What documentation do I need to supply?
  • Income documentation including the last two pay slips plus one of the following: a letter of employment, latest group certificate, tax assessment notice or three months bank statements. Self-employed borrowers must produce two years tax returns and two years tax assessment notices.
  • Income documentation for the alt doc loan includes an ABN registered for 24 months, GST registered for 12 months, declaration of financial position plus two of the following: six months business bank statements, six months BAS, or Pepper’s accountant’s letter.

You can apply for a Pepper home loan by contacting Pepper Money directly online, which you can do by filling out the form on the right of this page.

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10 Responses

  1. Default Gravatar
    TonyApril 17, 2016

    I finished a 3 year bankruptcy last year in sept can I get a home loan ?

    • Avatarfinder Customer Care
      MarcApril 18, 2016Staff

      Hi Tony,
      thanks for the question.

      The Pepper Essential Home Loan doesn’t allow discharged bankrupt borrowers, but the Pepper Easy and Pepper Advantage Loans allow those discharged from bankruptcy from 1 day to be considered.

      I hope this helps,

  2. Default Gravatar
    KarynOctober 9, 2015

    I am looking at refinancing my current home loan and doing a debt consolidation….my current credit cards are in arrears are you still able to help

    • Avatarfinder Customer Care
      MarcOctober 12, 2015Staff

      Hi Karyn,
      thanks for the question.

      Pepper do offer credit impaired borrowers refinancing solutions, but to find out if they can help you in your exact situation, you might want to contact them directly. You can do so by filling out the form on the right hand side of this page.

      I hope this helps,

  3. Default Gravatar
    cmsFebruary 28, 2015

    Paid default to baycorp originally a telstra debt $2080 am I eligible for this?

    • Avatarfinder Customer Care
      ShirleyMarch 2, 2015Staff

      Hi CMS,

      Thanks for your question.

      To be eligible for a Pepper Home Loan you need to have at least a 10% deposit. Paid defaults above $500 are not accepted with the Essentials home loan, but other Pepper home loans do accept paid or unpaid defaults depending on how long ago they were registered on your credit file.


  4. Default Gravatar
    paulSeptember 25, 2014

    What about if I owed a bank $2000, what can I do? I am only a Pensioner and currently with the Office of the Protective Commissioner, am I still eligible? Please get back to me on this asap. Should I need to withdraw from the Office of the Protective Commissioner’s Services to get a loan, I can do so.

    • Avatarfinder Customer Care
      MarcSeptember 25, 2014Staff

      Hi Paul,
      thanks for the question.

      This loan only accepts minor non-financial defaults of up to $500 on your credit file, and these defaults must be paid. Other Pepper Home Loans such as the Flexi Advantage Plus can be applied for if you have had unpaid defaults on your credit file. To find out more you might want to contact a mortgage broker using the form on the right hand side of this page.

      I hope this helps,

  5. Default Gravatar
    paulSeptember 25, 2014

    Can a pensioner apply for this loan? Can the fees be paid with the loan that you get or do I have to pay for it separately? Fees such as establishment fee, lender protection fee and legal fee

    • Avatarfinder Customer Care
      MarcSeptember 25, 2014Staff

      Hi Paul,
      thanks for the question.

      You must pay the establishment fee upfront, but the remaining fees can be added to the loan amount. Centrelink pensions are accepted as a form of income for this loan.

      I hope this helps,

Pepper Money Essential Prime Full Doc Home Loan

  • Interest Rate


  • Comparison Rate


  • App Fee / Annual Service Fee

    $0 / $10

  • Max LVR


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