Low doc lender expands product offering

A major low-doc lender has announced changes to its product offering in an aim to 'support broker business'



Pepper has announced changes to its product offerings in what it’s calling an on-going commitment to supporting broker business.

The updates across Pepper’s suite of mortgage products provides brokers with a choice of home loan offerings that are ‘more competitive’ and allow their clients greater flexibility.

These changes effective now, include:

  • Policy changes including the introduction of a Pepper accountant’s letter for verification of self-employed income (endorsed by Gadens partner Jon Denovan) and higher allowances for fee capitalisation
  • Reduced mortgage risk fees on lower LVRs
  • Pepper Flexi Advantage (full doc) now available from 6.99%, with a reduced mortgage risk fee (MRF) from 0.75%
  • Pepper self-employed advantage (alt doc) now available from 7.09%, with a reduced MRF from 0.75%
  • Pepper Easy (near-prime) now available at higher loan-to-value ratio (LVR) tiers – up to 90% (full doc) and up to 85% (alt doc)

 Pepper’s director of sales, Mario Rehayem, says the changes open up a range of new opportunities for brokers to write specialist loans.

 “Following extensive consultation with our supporting brokers, Pepper is excited to reveal a number of significant changes to our home loan products. The market is continually evolving and our capacity to understand these changes and take appropriate and timely action ensures our product offering remains relevant and competitive.”

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