Pepper Self Employed Advantage (70% up to 75% LVR)

The Pepper Self Employed Advantage (70% up to 75% LVR) home loan presently has an annual interest rate of 9.34%. On a Comparison Rate scale this equates to a 9.87% interest on a loan of $100,000 taken over 25 years; 9.63% on a $130,000 loan taken out over 25 years; 9.61% on a $150,000 loan over 25 years; 9.56% on a $225,000 loan over 25 years; 9.55% on a $250,000 loan over 25 years; 9.50% on a $275,000 loan taken out over 30 years and 9.49% on a $300,000 loan taken out over 30 years. It is a home loan that will stand up to scrutiny against any similar loans on offer by any other lender in Australia.

A comparison rate includes the interest rate, loan setup costs , the term of the mortgage, and any other upfront costs that may be associated with the loan. Before making any decision based on the comparison rate make sure you take into consideration if the loan you are contemplating on buying meets all your needs. For example the fact that a home loan has online or flexible repayment options will not show up in a comparison rate. You should also keep in mind that a comparison rate will not take into account any of the following:

• Government charges such as stamp duty or mortgage registration costs.
• Fees and charges that a lender may charge for loan options that you may or may not want included such as early repayment or redraw costs.

A comparison rate is therefore a good indication of the full cost written in terms of a percentage interest rate comparison but it can not and does not tell the full story. To make a true comparison all the non included items must also be taken into consideration.

The Pepper Self Employed Advantage (70% up to 75% LVR) home loan is a competitively designed mortgage for self employed home buyers or small business owners who have been operating their businesses for at least two years. You must however be able to prove that you are capable of managing your debts in a responsible and proper manner.

You can apply the proceeds of the loan to a variety of worthwhile purposes such as paying off your Australian Taxation Office (ATO) debt, the purchase of business equipment, working capital, debt consolidation or any other reason you consider necessary as well as the purchasing of your own home or an investment property. You must have held your Australian Business Number (ABN) for a minimum of two years and be registered for the Goods and Services Tax (GST) for 12 months immediately before making application for the loan.

You must also be able to complete a satisfactory Alternative Income Declaration of Financial Position, as well as the last six months business bank statements. You will not need to produce any Business Activity Statements (BAS).

Pepper Self Employed Advantage (70% up to 75% LVR) home loan details:

• Home Loan Terms. The minimum term is 10 years and the maximum term is 40 years.
• Mortgage Size. The minimum amount you can borrow is $100,000 and the maximum up to 85% LVR is $1,000,000.
• Repayments. Interest only repayments can be arranged from one to five years after which the repayments must be made on the basis of interest and principal. When the home loan is being repaid on the basis of interest only, monthly repayments alone are accepted, however when the loan is being repaid at interest as well as principal you can choose whether you repay either fortnightly or monthly.
• Additional Repayments. Extra repayments can be made at any time and any amount can be deposited.
• Redraw Facilities. You can use the redraw facility only when the loan is being repaid at principal and interest. The minimum amount that can be redrawn is $1,000 at any one time.
• Split Loan Facility. You can split the loan if you wish but to a minimum of $50,000.

Pepper Self Employed Advantage (70% up to 75% LVR) home loan fees and charges

There is an establishment fee of $995 that includes one standard valuation fee. Any further securities that need valuation are charged at $295 for each additional security. There is a monthly ongoing fee of $15. Legal fees usually work out to be about $375 after all the legal disbursements are completed. There is also a Title Insurance Premium to be met that costs $300 for loans under $400,000 and $450 for loans higher than $400,000. Not forgetting of course a discharge fee of $250 for each loan account discharged.

A Pepper Self Employed Advantage (70% up to 75% LVR) home loan is a very competitive home loan specifically designed for the self employed and small business operator who has difficulty accessing home loans from the more traditional bank and non-bank lenders.

Read the Pepper Self Employed Advantage (70% up to 75% LVR) terms and conditions.

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