Meet Hamish...

After years of hard work, Hamish owned his own home, valued at $900,000. With an income of $300,000 and a solid growth plan, Hamish was looking to use the equity in his home to consolidate a $25,000 personal loan and cash out $180,000 to expand his home maintenance business.

After having his requirements assessed by a broker, it became clear that a Pepper Money home loan could be an option.

With Hamish’s written consent, the broker entered his details into Pepper Product Selector (PPS). In less than five minutes, received an indicative offer, which outlined a Pepper Money product, interest rate and fees Hamish could be eligible for, all with zero impact on his credit score^.

The broker presented Hamish with a couple of options, and he chose to apply for a Pepper Money home loan.

After assessing Hamish’s application and verifying his situation, Pepper Money was able to provide approval for a Near Prime Full Doc home loan, at the interest rate and fees outlined in the PPS indicative offer. Through this option he was able to verify his income using:

• Last 2 year’s tax returns and notice of assessment or
• Last 2 years Financial Statements executed by a registered tax agent or Accountant**

In real life, a Near Prime home loan might be an option for your customers for a number of reasons: they may be recently self-employed, have a past bankruptcy, have non-traditional income, or need cash out for business purposes.  

With the help of PPS, you can identify a product, interest rate and fees in the form of an indicative offer in under five minutes - giving you the confidence to go ahead and speak to your client about their options. If all the information provided is correct and verified, then so are the rates and fees offered.

Thanks to his broker’s help, and the funds from Pepper Money, Hamish could now start to put plans into place to grow his business.

Try PPS for yourself.