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Aussie, Pepper team up to launch new home loan range

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Source: westfield.com.au

aussie homeloans store ta
Reporter 2 minute read

Aussie has joined forces with Pepper Money to launch a new “flexible” and “specialised” home loan product range.

Broking franchise Aussie Home Loans has teamed up with specialist lender Pepper Money to launch a new home loan product range, called Aussie Activate.

The product range, which includes prime to specialist home loans, is available nationwide exclusively through Aussie’s 1,000 mortgage brokers.

Aussie Activate is intended to help Australians who don’t fit the standard criteria, such as those who are self-employed and do not have complete financial statements, obtain a home loan.

Customers have the option to borrow up to 95 per cent of a property’s value.

Additionally, the Aussie Activate home loan will include options for offset sub-accounts and an Aussie-branded Visa debit card, with customers able to transact via a 24/7 online platform.

Commenting on the launch, David Smith, Aussie’s chief customer officer, said Aussie Activate provides a “genuine alternative to mainstream lenders and loans”.

“In the current home loan market, many lenders have tightened their lending criteria, resulting in some borrowers being locked out despite being able to service a home loan,” Mr Smith added.

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“Aussie Activate represents the latest pathway to home ownership, combining flexible product offerings with real-life scenarios, and understanding that not every customer ticks every box.”

The chief customer officer continued: “This launch really strengthens the diversity of our offering for brokers and customers alike, so no matter the customer’s situation or their requirements for a home loan, our brokers are well equipped to find them a suitable home loan option from one of our lender partners or white-label range.”

The Commonwealth Bank of Australia in March updated the market that it would suspend preparations for the demerger of Aussie Home Loans, as well as its other mortgage broking and wealth businesses, as a result of its commitment to implementing the banking royal commission’s recommendations, refunding customers, and remediating past issues.

However, the big four bank noted that it would ultimately proceed with the spin-off of its third-party subsidiaries.  

Aussie is not the only company to launch a new home loan offering this month. Earlier in May, HashChing announced that it had re-introduced a no-deposit home loan to its product suite, available to tertiary-educated citizens or permanent residents living in Australia that earn more than $150,000 per annum ($180,000 combined income for couples) and that have been working in a professional field for more than three years.

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Funded by Granite Home Loans, interest rates for the HashChing loan start at 6.5 per cent, but will drop down to a standard variable rate once the loan reduces to an 80 per cent loan-to-value ratio.

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Aussie, Pepper team up to launch new home loan range
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