What is specialist lending?

Pepper Money logo in office

Discover how our flexible approach to home loans could help your clients.

A specialist home loan might be an option for your clients for several reasons: they may be recently self-employed, have a past bankruptcy, receive a non-traditional income, or be behind in bill repayments. However, these situations are just a part of their story – after all, real life happens to everyday Australians who can move forward.

We work with you to understand your client’s situation – from their current employment to their past credit history.

Why a Specialist solution could work for your client

Does not meet mainstream criteria

Doesn't meet mainstream criteria

  • Recently self-employed with 6 months ABN or GST registration
  • Alternative documentation
  • No limit to cash out for stated purpose (subject to loan size and LVR)
Real life income

Real life income

  • Centrelink Family Tax Benefits A & B accepted
  • 100% of Child Support or Maintenance payments accepted
  • Family Support payments are considered on merits of application and not excluded after a certain age
  • Employer and Government paid maternity leave payments are accepted.
Credit history

Credit history

  • Unlimited defaults, mortgage and non-mortgage arrears considered
  • Part IX and Part X arrangements considered
  • Discharged from bankruptcy (1 day)
Debt consolidation

Debt consolidation

  • Consolidate unlimited debt
  • Payout tax debts
  • Payout private or solicitor debts.

More options for you and your clients

Specialist lending - also known as non-conforming lending - can provide more options when an applicant doesn’t typically conform to the major banks' standard loan criteria.

If your clients are having trouble getting a home loan because of their credit history, type of employment, or their income doesn't tick the right boxes, a specialist home loan could be an option.

 

How can I introduce a specialist home loan to my client?

If a specialist lending solution may be suitable for your client, our 5 Step Process can help you position it when they may have expected a home loan from a traditional lender.

PPS

PPS: Find your client's fit

Pepper Product Selector enables you to find a home loan option for your client in under five minutes*. Answer a simple set of questions about their situation, and we’ll combine their credit score to provide an indicative offer with estimated repayments, fees and interest rate^. Best yet, it’s free and won’t impact their credit score.

 

 

Broker submits scenario of client to non-bank lender

Non-bank lending making a real life difference.

Have a client with a similar situation? Put us to the test.

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