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The Pepper Money Advantage Alt Doc Home Loan is available credit-impaired and self-employed borrowers. It has a high maximum loan size, a wide variety of purposes it may be used for and a range of features.
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Review by
Richard Whitten is a money editor at Finder, and has been covering home loans, property and personal finance for 6+ years. He has written for Yahoo Finance, Money Magazine and Homely; and has appeared on various radio shows nationwide. He holds a Certificate IV in mortgage broking and finance (RG 206) and a Tier 1 Generic Knowledge certification (RG 146).
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.
You can apply for a Pepper Money Advantage Alt Doc Home Loan by clicking on the apply links available on this page.
Unlimited number of judgements or defaults which have occurred two years before you apply, whether they are paid or unpaid may be considered. A further two defaults will also be considered if they occurred between 12-24 months ago. You may also qualify if your mortgage is up to two months in arrears. Defaults less than $1,000 will be ignored regardless of the date in which they occurred.
To qualify for this loan, you'll need to satisfy the following conditions:
You'll also need to supply one of these three:
10 Comments
June 9, 2015
hey, do you guys offer any income protection or loan protection?
June 12, 2015
Hi Harry,
Thanks for your enquiry.
With the Pepper Advantage Alt Doc home loan, they do offer income protection as an additional product. This is can either be capitalised into your mortgage or it can be paid monthly through direct debit.
The cost of this income protection will depend on a range of factors including the loan amount and the level of service that you select, among other things.
It would be best to contact Pepper Advantage directly if you have any further enquiries regarding income protection.
Kind regards,
Belinda
December 8, 2014
Hi Guys,
I have recently left Fulltime employment, and taken over an existing business with my son-in-law. The business has been open since August 2011. We took over the business on the 11th of August this year. I get paid a wage of $4700/month through the business, and my wife works elsewhere and gets $500/week.
The business continues to perform well, but my question is “when can I qualify for a home loan. We have $30,000 in savings, and also an offer of a $15,000 gift from my parents.
Can you offer any options!!
Thanks
Dave
December 9, 2014
Hi 26greco,
Thanks for your question.
Most lenders take a conservative approach and would like to see that you’ve been in the same job for 6+ months. It’s advisable in this case to approach a mortgage broker regarding your home loan needs.
A mortgage broker has access to a database of lenders and would be able to tell you which ones would accept your application based on your employment history.
Cheers,
Shirley
July 21, 2014
Hi,
Am I able to apply for a self employed advantage plus loan with full documentation?
July 22, 2014
Hi Jo,
Thanks for your question.
This home loan is designed for the self-employed. Pepper Home Loans also offers a full documentation version, you can read about it on our guide to Pepper home loans. Please ensure to read through the relevant product disclosure statement and terms and conditions to ensure that you got everything covered before you apply.
I also recommend getting in touch with a licensed mortgage broker. A broker can help you understand your financial position and they can leverage their panel of networks to find a lender that is more inclined to review your application.
Cheers,
Shirley
June 25, 2014
We have a home loan already and have some debt with ATO we are self employed any ideas if we ask the bank would they decline refinance or should we move some where else
June 27, 2014
Hi Leanne,
Thanks for the question.
It is difficult for me to say whether or not a bank would decline your application to refinance, as each bank has its own unique lending criteria, which will take into account your income, debts, assets, and credit file. You might want to contact a lender directly to find out more about their lending criteria before applying for a home loan, or alternatively seek the services of a qualified mortgage broker to help you target a bank which may cater to your needs.
I hope this helps,
Marc
January 22, 2014
Hi,. My partner & I are on pensions looking to buy our own home, my question is what’s our chances of a home loan approved by you??
January 23, 2014
Hello Toni,
thanks for the question.
We are a comparison service which allows you to compare different loans, so unfortunately we can’t answer this question ourselves. You may wish to contact Pepper Home Loans directly to discuss their lending options for pensioners.
I hope this helps,
Marc.