Meet Jenny...

Jenny*, 47, is a single mum with two kids who wanted to buy her ex-husband's share of the home.

Woman gets near prime loan to buy their family home



  • Jenny*, 47, is a single mum with two kids aged 12 and 13.  
  • The breakdown of Jenny’s marriage led to financial difficulties and a history of defaults - all within the past 24 months. Having held a steady job as a manager at a bank, Jenny was able to maintain clean credit over the past year.


Her current situation

  • Wanting to stay in the family home with the kids, Jenny needed a loan to buy her ex-husbands share of the home. Jenny had no previous mortgage or rental history. However, her father gifted them the deposit when they first purchased it, so her ex agreed to sell her the house at 80% of the current value.
  • With her income and family support benefit, Jenny had sufficient income to afford the mortgage repayments. However, traditional lenders would not accept her child support and family tax benefit payments, which were needed to service the loan.
  • Jenny approached a broker for help, and after having her requirements assessed it became clear that specialist lenders could help Jenny. After her broker presented a couple of options, Jenny chose to apply for a Pepper Money home loan.


Real life solution

  • After reviewing Jenny’s situation, Pepper Money was able to offer her a Near Prime loan.
  • Pepper Money was willing to accept her family support benefit as income - even though her kids were above the age of 11. Parenting Allowances can be accepted by Pepper Money at a rate of 100% as income for servicing.




Broker submits scenario of client to non-bank lender

Non-bank lending making a real life difference.

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* Fictional scenario. These case studies are based on real-life examples, are not testimonials and have been provided for educational purposes only. They are not intended to imply any recommendation about any financial product(s) or constitute tax advice. If you require financial or tax advice you should consult a licensed financial or tax adviser. Outcomes will vary depending on the applicant’s individual circumstances. Applications are subject to credit assessment, eligibility criteria and lending limits. Terms, conditions, fees and charges apply.

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