Must know changes: Rate and policy updates
Posted: 24-07-2025
Update on rates
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Prime Full Doc promotions extended
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Until 15 October 2025, continue to access promotional rates up to 80% LVR1 and no LMI, LPF or Risk fee up to 90% LVR 2
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SMSF loan interest rates
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Access reduced interest rates for residential SMSF loans.
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Construction loans
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We’ve updated our construction and vacant land rates and fees.
For important updates, including full range of interest rates and fees, see the rate cards.
What's new
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Postcode updates
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Select WA postcode categories have been upgraded, enabling you to help more clients achieve their goals.
See the postcode calculator for more information.
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Loan and LVR limits
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- Borrow up to $2m for construction loans across all states
- LVRs up to 95% for units and interest only loans on WA securities.
- Loan amounts up to $750k with an LVR of up to 80% for category 3 locations.
- Loan amounts up to $1.5m at 75% LVR or $1m up to 80% LVR for vacant land.
- Borrow up to 85% LVR for vacant land.
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Commercial loan options
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- Max loan limit for commercial single securities is $5m and this now also includes non-standard residential securities.
- Near Prime default limit increased to $3k.
- 1 day discharged bankrupt now accepted.
- Financial statements can be used instead of lodged tax returns.
- Alt Doc accepted for childcare up to 65% LVR.
- Valuation reports are accepted for up to 120 days if the LVR is 70% or less.
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PAYG income documentation
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More ways for PAYG clients to verify their income. They can provide 2 of most recent payslips and last 3 months bank statements (noting salary credits). Or their most recent payslip plus 1 additional supporting document. See product guide for more information.
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High-density units
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Increased loan amounts for units. You can now borrow up to $1.5m with a max LVR of 60%– full valuations needed. This also applies to WA and unit developments with more than 35 units.
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Company borrowers
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Companies set up for borrowing purposes, such as special purpose vehicles (SPVs) can now access our construction loan options, as long as they’re not trading companies or professional builders.
For important details on these updates, see our product guide.
We’ve updated our Target Market Determinations (TMDS) to include these new policy enhancements.
You can access our TMDs here.
Information is correct as of 24 July 2025 and subject to change at any time.
Applications are subject to credit assessment, eligibility criteria and lending limits. Terms, conditions, fees and charges apply.
Applications lodged after the Promotion period will be offered the application interest rate, fees and credit policy then applicable. Promotions are subject to change and may be varied or withdrawn at any time.
1Prime Full Doc promotion applies to new Prime Full Doc home loan applications, for variable interest rates up to 80% LVR. Refer to the rate card for our full range of interest rates and fees. Applications must be submitted between 12:00am AEDT 5 March 2025 and 11:59pm AEDT 15 October 2025.
2Loan Protection Fee promotion applies to new Prime Full Doc residential property applications up to 90% LVR. Refer to the rate card for our full range of interest rates and fees. Applications must be submitted between 12:00am AEDT 1 April 2025 and 11:59pm AEDT 15 October 2025.
©Pepper Money Limited ABN 55 094 317 665; AFSL and Australian Credit Licence 286655 (“Pepper”). All rights reserved. Pepper is the servicer of home loans provided by Pepper Finance Corporation Limited ABN 51 094 317 647.
