One non-bank lender has cut the interest on its suite of products by up to 65 basis points.
Yesterday, Pepper announced it would trim its rates for the second time in as many months.
The Pepper Flexi Advantage home loan will remain as Pepper’s lowest interest rate product, at a new rate of 7.89 per cent, at an LVR of up to 55 per cent.
The near prime product launched last month, Pepper Easy, continues to provide a viable option for the self-employed who have an unblemished credit history in the last three years and are looking to draw cash out for business purposes.
This alternative documentation loan is offered to customers at 7.99 per cent for an LVR of up to 80 per cent.
Pepper’s director of sales and distribution Mario Rehayem said the decision to reduce interest rates is a reflection of the commitment Pepper has to brokers and their customers.
“Pepper always looks to provide solutions for brokers and their clients, and reduced interest rates will help ensure our products stay competitive. This provides yet another reason why brokers should “Give Pepper a Crack” and experience our excellent service,” said Mr Rehayem.