Pepper Self Employed Advantage (up to 70% LVR)
Posted March 15th, 2011
and last modified January 31st, 2012
What happens when I click Enquire Now?
- Clicking Enquire Now will take you to the lender's website
- After completing the contact form, a mortgage expert will contact you
- The mortgage expert will ensure you find the right loan, calculate your repayments, and explains all the associated fees
- After going through the enquiry process you will be able to know how much you can borrow, begin your application when you are ready to apply and be approved for a home loan
Pepper Home Loans understand the mixed feelings of home buyers when they embark on buying a home. It is undoubtedly an exciting time but it can also be quite daunting and confusing, especially when it comes to making the actual application for the mortgage in order to finance the home you have chosen. This is especially so when it is your first home but Pepper Home Loans along with their mortgage brokers go out of their way to make the occasion a happy and enjoyable one. This applies to the self employed as much as anyone else as the Pepper self employed advantage (up to 70% LVR) home loan attests to.
If you are self employed or own your own business and find it difficult to comply with the rigid criteria demanded by most lenders when it comes to proving regular earnings, the Pepper Self Employed Advantage (up to 70% LVR) could be just what you need, as it is a mortgage that can be tailored to suit your specific needs by home loan experts who know and understand you as an individual home buyer and not simply another customer who passes the credit score test. Peppers specialist underwriting team professionally assess all home loan applications put to them on their individual merits.
Pepper Self Employed Advantage (up to 70% LVR) home loan main features include the following:
- Simple and easy to understand fee structure.
- Unlimited additional repayment features.
- Unlimited redraw facilities.
- Individual assessment by specialist underwriting teams.
- No extra interest rate loadings on interest only repayments.
- No lenders mortgage insurance adding extra costs.
- No additional interest rate loadings for any rural or investment home loans.
Pepper Self Employed Advantage (up to 70% LVR) eligibility requirements
The Pepper Self Employed Advantage (up to 70% LVR) home loan is designed for borrowers who own their own small businesses and have done so for at least the previous two years.
You must have a good credit history as well as a provable track record of being able to manage your debts. Any finance that you obtain is not restricted in any way as it can be used for such purposes as working capital for your business, the purchasing of business equipment, payment of Australian Taxation Office (ATO) debts, debt consolidation generally, or any other worthwhile purpose.
You must have Australian Business Number (ABN) registration dating back at least two years. You will also need to have held Goods and Services Tax (GST) registration for 12 months prior to applying for the loan as well as an Alternative Income Declaration of Financial Position and the last six months of business bank statements. You will not need any Business Activity Statements (BAS).
Pepper Self Employed Advantage (up to 70% LVR) home loan details
This home loan can be taken out for a minimum period of 10 years and a maximum period of 40 years. It has a minimum loan size of $100,000 and a maximum up to 85% LVR of $750,000. Repayments can be made on an interest only basis from one to five years after which it must be repaid as a principal and interest home loan. Only monthly repayments are accepted while the loan is being repaid on the basis of interest only but when principal and interest is being repaid you have a choice of paying the loan off on either a fortnightly or monthly basis. A split loan facility is available with a minimum of $50,000. The Redraw facility has a minimum redraw of $1,000 at any one time and this is only available while the loan is being repaid on an interest and principal basis.
Pepper Self Employed Advantage (up to 70% LVR) home loan fees
There is an establishment fee of $995 that includes one standard valuation. Any additional valuations that are required are charged at $295 a security. A monthly fee of $15. A legal fee which is set at $375 covers all legal disbursements. A discharge fee of $250 is charged on all accounts and there is a Title Insurance Premium of $300 for valuations under $400,000 and $450 for amounts over $400,000. No charges are levied against split loans, guarantees or additional securities (other than a valuation cost). Government charges may also apply but will vary between the different states and territories.
How to get a Pepper Self Employed Advantage (up to 70% LVR) home loan
There is only one way to obtain a Pepper Self Employed Advantage (up to 70% LVR) home loan and that is through the services of an accredited mortgage broker. You will have to ask your mortgage broker if he or she is accredited to handle Pepper Home Loans and if not you will have to go to another who does. All mortgage brokers who are accredited to offer Pepper home loans must be members of their leading industry organisations in order to prove their acceptability in the industry and be trustworthy in dealing with their clients.
Pepper Self Employed Advantage (up to 70% LVR) home loans are of great benefit to self employed business people who have difficulty in meeting the strict criteria demanded by many lenders. Pepper treat each application on its merits and are not held back by traditional dogma.
Read the Pepper Self Employed Advantage (up to 70% LVR) terms and conditions.
| Minimum Loan Amount | $100,000 | |
|---|---|---|
| Maximum Loan Amount | $1,000,000 | |
| Maximum LVR | 85% | |
| Maximum Insured LVR | 85% | |
| Mortgage Offset Account | No | |
| Loan Redraw Facility | No | |
| Split Loan Facility | No | |
| Fixed Interest Option | No |
| Interest Rate Type | Fixed | |
|---|---|---|
| Interest Rate | 8.99% | |
| Comparison Rate | 9.48% | |
| Repayment Type | Interest Only | |
| Repayment Frequency | Weekly | |
| Extra Repayments | No |
| Application Fee | $995 | |
|---|---|---|
| Legal Fee | $375 | |
| Valuation Fee | $295 | |
| Service Fee | $15.00 |
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