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ISCOVER
Staff Reporter
Despite the Reserve Bank only dropping the cash rate by 25 basis points, one lender has decided to cut the interest on some of its products by 1.00 per cent.
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Yesterday, Pepper announced it would drop the interest on its suite of products for new customers by up to 100 basis points.
Effective from next week, the lender will offer its Pepper Easy home loan to clients for 7.24 per cent for an LVR up to 65 per cent.
In addition, the lender said it would also make its Pepper Easy home loan available as a full doc loan with unlimited cash out for stated purposes up to an LVR of 80 per cent.
