One lender has said it might cut rates as part of a campaign to expose how some rivals “disguise fees”.
Pepper is running a campaign from July 1 to August 8 to convince brokers that it offers better value than other specialist lenders across its near-prime and specialist home loans.
The ‘Pick Pepper’ campaign will also “educate brokers on some of the common tactics that other specialist lenders employ to disguise fees”.
During the campaign, brokers can submit conditional approvals from any other specialist lender to be assessed against a comparable Pepper product.
Pepper’s director of sales and distribution, Mario Rehayem, said Pepper would compare the two loans by loan size, LVR, rates, fees and applicable charges.
“If it is determined that the other specialist lender has a better overall offer, then Pepper will discount the interest rate to provide a sharper price,” he said.
Mr Rehayem said the campaign shows Pepper’s commitment to its broker network.
“Our home loan products enable brokers to improve their conversion rate and build better, stronger businesses by satisfying a wide variety of borrowers excluded from using traditional lenders,” he said.
“We have also hired dedicated scenario and relationship manager teams to support our business development managers so that brokers can always speak to someone from Pepper with no delays.”
The ‘Pick Pepper’ campaign excludes mortgage managers that offer Pepper products under a white label.
[Related: Pepper stars in Non-Bank Lending Awards]