Real Life Refinance

Posted: 03-07-2023

Real Life Refinance is an option that is designed for refinances of residential mortgages up to an 80% LVR with no additional credit being sought – the refinance must be dollar for dollar. Eligibility criteria is shown below and for applications meeting these guidelines, servicing can be assessed on the Real Life Refinance Serviceability Calculator.


Real Life Refinance policy

Effective immediately, we're introducing a ‘Real Life Refinance’ policy for home loan applications. Designed to help your non-conforming clients reduce their current repayments, this policy allows for:

A 1% serviceability buffer, reflected on the new Real Life Refinance calculator.
Up to 80% LVR (including any fees).
Dollar for dollar refinance of the client’s current home loan amount (no additional credit permitted).
Interest rates starting from 6.99% p.a.2 (from 7.25% p.a. comparison rate3) for Full Doc options, and from 7.19% p.a.2 (from 7.45% p.a. comparison rate3) for Alt Doc options.
Defaults listed more than 12 months ago considered.

For this policy to apply, eligibility criteria include:

  • A clean repayment history over the last 12 months;
  • A new repayment amount, that is lower than their current repayments;
  • A scenario that falls under our Near Prime Clear, Near Prime or Specialist home loan options.



Additional eligibility criteria apply. For more information check out our fact sheet.

Information is correct as of 3 July 2023 and subject to change. Applications are subject to credit assessment, eligibility criteria and lending limits. Terms, conditions, fees and charges apply. Information provided is factual information only and is not intended to imply any recommendation about any financial product(s) or constitute tax advice.

1Pepper Money's Real Life Refinance Option is available to eligible clients. For full details of eligibility criteria and required supporting documentation see the Real-Life Refinance Policy Fact Sheet.

2Interest rates range from 6.99% - 11.84% p.a. (Comparison rates range from 7.25% p.a. - 11.99% p.a for Full Doc options and 7.19% p.a. - 11.69% p.a (Comparison rates range from 7.45% p.a. - 11.84 p.a) for Alt Doc options.

3Comparison rate is calculated based on a secured loan of $150,000 and a term of 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

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