Pepper Self Employed Advantage 1 Year Introductory Rate (70 percent up to 80 percent LVR)

Pepper Self Employed Advantage 1 Year Introductory Rate (70% up to 80% LVR) home loans are presently available at an interest rate of 8.74% This gives it a Comparison Rate of 9.63% on a $100,000 home loan taken over a 30 year term. It is a mortgage that has been designed specifically for the self employed and business operators who have difficulty in meeting the demands of traditional lenders in regard to providing evidence of their regular earning ability when they wish to buy a home of their own, or invest in property.

A Pepper self employed Advantage 1 year introductory rate (70% up to 80%) home loan which is available to a wide range of home buyers, does not simply judge an applicants suitability on credit score alone but takes into consideration each applicants individual circumstances. A major reason why many use the proceeds as working capital for their business operations, debt consolidation, the purchase of business equipment as well as paying off Australian Taxation Office (ATO) debts. It is a specialty home loan that is designed for self employed people as well as small business operators who have been in business for at least two years and during that time have built up a good credit history therefore presenting a proven track record of being able to manage their debts.

Eligibility requirements

Eligibility requirements for a Pepper Self Employed Advantage 1 Year Introductory Rate (70% up to 80% LVR) home loan is that applicant must be able to show documentary evidence of holding Australian Business Number (ABN) registration for the previous two years. He or she must also have registered for the Goods and Services Tax (GST) one year before applying as well as complete an Alternative Income Declaration of Financial Position plus at least six months business bank statements. No Business Activity Statements (BAS) are required.

Pepper Self Employed Advantage 1 Year Introductory Rate (70% up to 80% LVR) home loan details:

• The minimum term you will be able to take out this particular home loan for is 10 years and the maximum term is 40 years.
• Loan amounts are limited to a $100,000 minimum but are available to a maximum of $1,000,000 for up to 85% LVR (loan to value ratio).
• This mortgage is repayable at interest only for between one and five years after which it must be repaid as principal and interest. While you are repaying at interest only you must pay on a monthly basis but when paying both interest and principal you have a choice whether you pay fortnightly or monthly.
• You are able to pay as many additional payments as you can afford whenever you have the extra money available.
• Redraw facilities of these extra funds is allowed when the loan is being repaid at interest and principal. The minimum amount that can be redrawn at any one time is $1000.
• There is a split loan facility available with a minimum split of $50,000.
• If you are able to provide full documentation your maximum LVR will be set at 85% but if you arrange your loan on the basis of low documentation your maximum LVR will be 80%.

Fees associated with a Pepper Self Employed Advantage 1 Year Introductory Rate (70% up to 80% LVR) home loan

There is a Discount Interest Adjustment fee to pay if the mortgage is paid out during the first four years of it being in operation. The fee amount is calculated by multiplying the loan amount repaid early by the difference in the standard rate and discount rate divided by 365 and then multiplied by the number of days the loan had the benefit of the discount. Other costs include the following:

• Establishment fee – $995 but it includes one standard valuation.
• Valuation fee – The first one is included in the establishment fee but any others that are required are charged at pre security.
• Legal fees – .
• Title Insurance Premium; $300 for properties valued below $400,000 and $450 for properties valued in excess of $400,000.
• Loan discharge fee – $250 for each loan account.
• There is also a monthly fee of $15 to pay.

There may also be certain government charges to pay such as stamp duty.

How to apply for a Pepper Self Employed Advantage 1 Year Introductory Rate (70% up to 80% LVR) home loan

The only way you will be able to obtain any Pepper home loans is through the services of an accredited mortgage broker. All mortgage brokers who are accredited to handle Pepper mortgages have to be members of their key industry bodies such as the Mortgage and Finance Association of Australia (MFAA) or the Finance Brokers Association of Australia (FBAA) and Credit Ombudsman Service Limited (COSL). This practice ensures every mortgage broker offering a Pepper home loan is properly equipped to cater for their clients’ needs and will always act in the best interest of their home buyers.

A Pepper Self Employed Advantage 1 Year Introductory Rate (70% up to 80% LVR) mortgage is ideal for those home buyers in business for themselves and because of this are unable to supply the usual documentation regarding regular earnings as each applicant is judged on merit not just credit score.

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