Highlighting its ongoing commitment to broker businesses, one of Australia’s non-bank lenders has enhanced its product offering.
On Wednesday this week, Pepper introduced a Pepper’s Accountant Letter for verification of self-employed income and higher allowances for fee capitalisation.
In addition, Pepper has reduced its mortgage risk fee on loans with lower LVRs.
The lender’s Flexi Advantage (full doc) is now available from 6.99 per cent, with a reduced mortgage risk fee from 0.75 per cent.
Finally, the lender’s alternative documentation self-employed advantage product is now available from 7.09 per cent, with a reduced mortgage risk fee from 0.75 per cent.
According to the lender’s director of sales Mario Rehayem, these changes open up a range of new opportunities for brokers to write specialist loans.
“Following extensive consultation with our supporting brokers, Pepper is excited to reveal a number of significant changes to our home loan products,” he said.
“The market is continually evolving and our capacity to understand these changes and take appropriate and timely action ensures our product offering remains relevant and competitive.”
The policy and rate changes follow a series of initiatives by Pepper to provide the broker community with additional business support and professional development.