Stay well away from Pepper! They are useless, inept and downright self invested company who just look for new clients and leave you after you’ve signed on.. Once they have you they don’t care to look after you when it comes to refinancing. Not only do they not advertise their home loan rates for any type of transparency and waste your valuable time but when I came to extending my loan they ignore my requests for two weeks because i was paying more and it was in Peppers interest NOT to help me extend my loan. I would never deal with the again and if I could warn all potential customers to stay away to avoid what I’m having to deal with.
Our mortgage broker advised Pepper of our entire situation which is somewhat complex so we applied under high risk and low documentation. On pre-approval application we provided everything Pepper requested and were told we'd have a response in 2 to 5 working days. Not a word from Pepper within their specific time-frame, though afterwards they requested further information and documentation which we provided in full and promptly. We were then told they would have a response by close of business. That also didn't happen and that evening, for a third time, we were asked for further documentation and some which simply was not possible (eg. payslips for next month). They had ample information and documentation, security on the property we were looking to purchase, and offer of a solid guarantor for the mortgage and yet they were unable to provide an answer on a higher rate, risk fee attached loan application where they were working to assess us in the same way as anyone else and avoid the exact reason we were applying with them. They wanted to simple charge us higher and were not open to truly mitigating any risk that may have been attached. Incredibly poor service from this lender and a complete time waster. If you don't think it's easy to apply elsewhere don't expect Pepper to be any different.
They have terrible service keep changing staff Keep asking for same documentation not sure why keep losing information or because of staff keep changing Interest rates higher than normal The process of to get a home loan with pepper money is very unpleasant and degrading
Unfortunately we had to go through this bank at the time due to finances but they really do take advantage of the people who need it. We have been with them for over a year and our starting rate was 6.68%. It has dropped a little bit because I have asked for a rate review every 6 months.
They are hardcore when it comes to getting their money. My home loan interest rate 8.13%. They were ruthless when I was in financial hardship years ago, now I pay double the monthly payments and have an excellent credit score and they refuse to lower the interest rate.
I have been with Pepper since they took over from GE Money. I called them yesterday to discuss the impact of Covid 19 to my SME. Pepper arranged a three month break from payments with no penalty over the phone. I cannot speak highly enough of their staff and this help. They provide certainty in an uncertain world. Thank you.
They are great if your credit history is not as good as others. While they will charge a bit higher interest rate, they will accept you for a mortgage when other banks won't. It allows you to get into the housing market and repair your credit. I appreciate everything they have done for me.
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WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
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