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Home Loans 101

Cutting through the jargon to answer your questions

Home Loans 101

Cutting through the jargon to answer your questions

Resource Hub

Brokers help clients through the Broker Resource Hub

Resource Hub

Brokers help clients through the Broker Resource Hub

Resource Hub

Brokers help clients through the Broker Resource Hub

Are you looking for some easy-to-understand practical tips to help with your home loan? You’ve come to the right place.

At Pepper Money, we know that getting a home loan is one of life's big achievements, we also know that it can be confusing and overwhelming to navigate the process. That’s why we’ve created our Home Loans 101 series, where you can find a selection of short and easy to digest video guides to help answer some common questions around home loans and better managing your finances.


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Brokers help clients through the Broker Resource Hub

The non-bank difference

What exactly is a non-bank lender? As a proud non-bank ourselves, we explore the facts and expose common misconceptions about these institutions who play a vital role in Australia's home loan and lending ecosystem.

Turned down for a home loan? A non-bank could offer more flexible options.

Having a home loan application turned down happens to thousands of people every year. But if it happens to you, don’t be discouraged. We look at the options available.⁠

Male: Hey Sarah, I've got a friend who's been turned down for a home loan and they're not quite sure what to do next.  

Pepper Money: For a start, please tell them not to take no for an answer. Getting a home loan application declined by the banks happens to lots of people but the good news is there can be another way.

Non-banks could offer more flexible loan options that could turn a no into a yes depending on the situation so always worth checking. But before you go, here's some important legal stuff.  

How do banks and non-banks decide who they'll lend money to?

Our video looks at the differences between non-banks and more traditional lenders. Where a bank may decline your mortgage application because you don’t tick all the boxes, many non-bank lenders consider your individual circumstances when assessing home loan applications.


Female: So how do the banks and non-banks decide who they'll lend money to?  

Pepper Money: Check this out. Your deposit has to come from genuine savings with the banks whereas non-banks can look at things like a gifted deposit. Your income source is a little bit different? Well, non-banks consider a broader range of income sources like benefits. Clean credit history is a must with the banks whereas non-bank lenders can consider challenges with your credit history, even bankruptcy.  

A one-size-fits-all lending criteria sounds a bit rigid? Well, non-banks look at each person's application based on its individual merits.  

Pepper Money: Thanks, Adrian. 
Male: That's pretty different.  

Pepper Money: Well, both lenders will make sure that you can afford the loan and also meet responsible lending requirements. But if you don't tick all of the bank's boxes, you can still get declined. That's when a non-bank may be able to turn a no into a yes. Cool, huh? 
Male: That's good news for my friend.   
Pepper Money: Just tell them to talk to a mortgage broker, they understand all of the options. But before you go, here's some important legal stuff. 


Home loan options

We understand that everyone’s real-life situation is different. That’s why we keep our thinking flexible. As a non-bank lender, we look at more than just your credit score, which is why we may be able to help when others can’t. We offer a wide range of home loan options – what’s your situation?

Looking to refinance your home loan? We're here to help.

Want your home loan to work harder for you? There's an opportunity to improve your financial situation by switching products or lenders, you might want to think about refinancing. Our video answers the key questions around the process of refinancing.

What is a debt consolidation home loan?

If you’re having difficulty juggling payments on multiple loans or credit cards? Consolidating your debts into a single monthly repayment could help to re-shape your finances. Our video breaks the process of debt consolidation down into six simple steps.

Self-employed and having a hard time getting a
home loan?

Running your own small business comes with a level of freedom and flexibility, but this can leave little time for figuring out how to get a home loan. We’ve put together real-life guide to self-employed home loans, to help take the stress out of the mortgage process.

How can we help investor loan customers?

If you’re thinking about investing in property, it’s important to understand how the process works as well as the potential benefits and the risks involved. Our short video looks at some of the loan options available to property investors.

Home loan features

Understanding the ins and outs of your home loan can be overwhelming, which is why we’ve hand-crafted some videos to make it easier for you. 

What is an Offset sub-account? And how does it work?

An offset sub-account (also known as an offset account or offset feature) could help you reduce the interest on your home loan, and pay down your home loan faster. 

Maybe you’ve heard about offset sub-accounts but aren’t quite sure how they work? We’re here to make things simple and explain everything you need to know. 

What's a redraw facility?

A redraw facility allows you to access extra repayments that you have made into your home loan.

This could be a handy home loan feature if you need to access additional funds to cover any unexpected costs or contingencies. Find out how it works and how it could work for your situation.

Money management

Our Money Management videos are packed with practical tips and expert advice to help you take control of your finances. 

Steps to help improve your home loan borrowing power.

The higher your home loan borrowing power, the more options you could have. And the good news is, there are plenty of ways to help increase your borrowing capacity – here are some of them.

A simple budgeting rule that really works

By breaking your monthly income into three different segments – Must Haves, Wants and Savings – you may start to think more about prioritising your outgoings and could start to see your savings grow. Here's how the 70-20-10 rule works.

Apply for a Pepper Money Home Loan

Want to find out where you stand?

We've got the online tools and calculators to help get your home loan journey underway. Work out how much you may be able to borrow and even quickly find out what indicative interest rate you might be eligible for.

Information provided is factual information only and is 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.

All applications are subject to credit assessment, eligibility criteria and lending limits. Terms, conditions, fees and charges apply. 

The results of the borrowing power calculator are based on information you have provided and is to be used as a guide only. The output of the calculator is subject to the assumptions provided in the calculator (see 'about this calculator') and are subject to change. It does not constitute a quote, pre-qualification, approval for credit or an offer for credit and you should not enter commitments based on it. The interest rates do not reflect true interest rates and the formula used for the purpose of calculating estimated borrowing power is based on the assumption that interest rates remain constant for the chosen loan term. Your borrowing power amount will be different if a full application is submitted and we complete responsible lending assessment. The results in the calculator do not take into account loan setup or establishment fees nor government, statutory or lenders fees, which may be applicable from time to time. Calculator by Widgetworks.

Pepper Money Personal Loans is a brand of Pepper Money Limited. Credit is provided by Now Finance Group Pty Ltd, Australian Credit Licence Number 425142 as agent for NF Finco 2 Pty Limited ACN 164 213 030. Personal information for Pepper Money Personal Loans is collected, used and disclosed in accordance with Pepper’s Privacy Policy & the credit provider’s Privacy Policy.

Pepper Money Limited ABN 55 094 317 665; AFSL 286655; 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. Pepper Asset Finance Pty Limited ACN 165 183 317 Australian Credit Licence 458899 is the credit provider for asset finance loans.

Pepper and the Pepper Money logo are registered trademarks of Pepper Group Assets (Australia) Pty Limited and are used under licence.

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