Specialist Lending is all about providing alternative solutions

We can assist you to help a wide range of clients by always looking at the bigger picture. We take your clients’ individual circumstances into account, and may be able to consider situations that some traditional lenders will decline.

Common reasons why borrowers may need a specialist lender:

Some of the common scenarios we receive do involve credit impairment that can often occur following a ‘life event’ like a marriage breakdown or a job loss. Other times it may be a borrower’s income sources or employment type that is preventing them from securing finance. Whatever the circumstances, if an application doesn’t meet traditional lending criteria, it is definitely time for a second opinion.

Doesn't meet mainstream criteria
Doesn't meet mainstream criteria

  • Failed to pass credit scoring
  • Previously been declined
  • New permanent residents AU or NZ

Requires flexible solution
Requires flexible solution

  • Multiple debts to consolidate 
  • Needs to payout business/IRD debt
  • Cash out needed for business purposes
  • Refinance of private/solicitor finance

Impaired credit history
Impaired credit history

  • Discharged bankrupt
  • Late payments or mortgage arrears
  • Defaults, judgements or writs

Can't provide traditional documentation
Can't provide traditional documentation

  • Self-employed 24 months
  • NZBN registered 6 months
  • Income from casual employment
  • Government income from family payments

Three loan products, and only one application  –
Let Pepper Money do the work

We use our cascading credit model to assess applications. We will always assess your client’s application under the Prime product first, and then, will automatically reassess across our Near Prime and Specialist home loans if it does not fit Prime criteria. Where we can, we will provide a solution for your client, saving you the time and effort of reapplying.

Pepper offers floating as well as 2 and 3 year fixed interest rates and alternative documentation (alt doc) home loans across our range of products.

Until 17 October 2021 we are discounting floating interest rates across Prime, Near Prime and Specialist loans for new customers (this does not apply to existing customers) *

 

Prime

A standard home loan range with competitive interest rates, flexible repayment options and typical loan features.

 

Floating interest rate starting from

3.29% p.a.*

  • 2 and 3 year fixed rate options available
  • Alternative documentation (alt doc) available
  • Redraw facility 
  • Gifted deposits and other ‘non-genuine’ savings considered
  • Consolidate up to 4 debts and cash out for acceptable personal purposes
  • Paid defaults up to $500 are considered
  • Option to split the loan

 

  • Establishment fee: $1,499
  • Monthly administration fee: $10 per month (split)
  • View a detailed summary of our home loan fees here

 

Near Prime

A home loan range for borrowers on the cusp of prime with a clean credit history for the last 2 years.

 

Floating interest rate starting from

3.89% p.a.*

  • 2 and 3 year fixed rate options available
  • Alternative documentation (alt doc) available
  • Redraw facility 
  • Gifted deposits and other ‘non-genuine’ savings considered
  • Unlimited cash out (requires verification)
  • Defaults and judgements registered > 24 months considered (includes discharged bankruptcy)

 

  • Establishment fee: $1,499
  • Monthly administration fee: $15 per month (split)
  • View a detailed summary of our home loan fees here

 

Specialist

A home loan range for borrowers unable to meet bank criteria and/or credit impairment within last 2 years.

 

Floating interest rate starting from

5.55% p.a.*

  • 2 and 3 year fixed rate options available
  • Alternative documentation (alt doc) available
  • Redraw facility 
  • Gifted deposits and other ‘non-genuine’ savings considered
  • Unlimited cash out up to 75% LVR (requires verification)
  • Defaults and judgements registered < 24 months considered (includes discharged bankruptcy)
  • Unlimited mortgage arrears and non-mortgage arrears within last 6 months
  • Newly self-employed 6 month NZBN accepted

 

  • Establishment fee: $1,499
  • Monthly administration fee: $10 per month (split)
  • View a detailed summary of our home loan fees here

 

To download our complete product guide and access our rate card, log in to the Pepper Money Financial Adviser Portal

 

The default interest rate is equal to the interest rate applicable to the loan account at the time of default + 2% p.a.

All loan applications are subject to the lender completing responsible lending checks and considering the borrower’s individual circumstances.

Join the growing number of brokers who are finding more solutions with Specialist Lending

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You are protected by responsible lending laws. Because of these protections, the recommendations given to you about home loans are not regulated financial advice. This means that duties and requirements imposed on people who give financial advice do not apply to these recommendations. This includes a duty to comply with a code of conduct and a requirement to be licensed.

Floating Interest rates are correct as at 1 October 2021 and subject to change at any time.

1Pepper Money interest rate promotion applies only for new Pepper Prime, Pepper Near Prime and Pepper Specialist home loan applicants.  Offer does not apply to existing borrowers.  The actual interest rate applicable to a borrower may be higher than the stated starting floating interest rate above. Applications must be submitted between 12:00am NZDT 1 October 2021 and 11:59pm NZDT 17 October 2021. Home loan applications lodged after the promotional period will be offered the current interest rates then applicable.

Pepper Prime home loan floating interest rates range from 3.29-4.25% p.a., Pepper Near Prime home loan floating interest rates range from 3.89-5.72% p.a. and Pepper Specialist home loan floating interest rates range from 5.55-7.64% p.a. The actual interest rate will depend on the lender’s consideration of various factors, including the individual borrower’s circumstances and credit history, the loan to value ratio (LVR) and the type of loan product applicable including whether the customer is applying for a full documentation (full doc) or alternative documentation (alt doc) loan. All applications are subject to Pepper's credit assessment and loan suitability criteria. Terms, conditions, Fees and charges apply. For more information please refer to the Fees & Charges Schedule, General Teams & Conditions and the Mortgage Terms & Conditions.

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