Applying for a Pepper Money home loan: a step-by-step guide

Applying for a Pepper Money home loan on a computer

Whether you’re a first-time buyer or building an investment portfolio, chances are you’ll need to complete a home loan application.

Here’s the rundown of the Pepper Money home loan application process – and how we can work together to get your home loan approved.

Meeting your lending specialist

1. Meeting your lending specialist

We like to start by getting to know you. Kick-off the home loan application process with an initial 30-minute consultation with one of your lending specialists. They’ll understand your situation and find a solution that works for you. 

So we can get a good idea of your financial situation, it’ll be handy to have these documents at hand:

  • recent bank statements
  • payslips or other proof of income
  • personal identification, and
  • a snapshot of your current asset and liability position.

Tip: Having proof of your deposit can help speed things along

Meeting your lending specialist

2. Assessing your application

Our credit team will work to verify your financial position by reviewing the information you’ve provided us. We’ll review your finances, check your credit file and check that you’ll be able to adequately service the loan you’re applying for – even if rates do change by a few basis points.

If our credit assessors are provided with all the right documents up front, then the review process can be undertaken in a few days.

Meeting your lending specialist

3. Pre-Approval (Conditional)

If everything checks out, you should receive pre-approval, which is also sometimes known as conditional approval.

This gives you the power to start making serious offers on properties and start registering for auctions. Your property dream is getting closer!

Just remember that pre-approval is only valid for 90 days and comes with a few conditions; primarily that there must be no material change to your financial situation before the loan is approved.

Meeting your lending specialist

4. The valuation

Once you’ve found the property of your dreams, let us know and we’ll send out a valuer to take a look. This unfortunately isn’t to help with negotiations (sorry!) but rather for us to check that the price you’ve indicated you’ll be purchasing the property for is in-line with market conditions.
Meeting your lending specialist

5. Final approval (Unconditional)

So how long is the usual Pepper Money approval time? If all the conditions are met, there are no material changes to your situation, and the valuation report stacks up, then we’ll send you a final approval letter within two working days.
Meeting your lending specialist

6. Signing your loan documents

Nearly there – now all that’s left is for you to sign your loan agreements and start the celebrations!

You’ll need to review and sign your loan documents. Remember, this is the formal legal agreement that outlines the terms and conditions of your new loan with us. It might look like a lot, but make sure you read it thoroughly and reach out if you have any questions.

To accept our offer we’ll need you to sign and return the loan agreement to our solicitors. 

Meeting your lending specialist

7. Preparing for settlement

Once we’ve received all your signed loan documents, we’ll confirm a settlement date with your solicitor if you’re purchasing a property, or liaise with your current bank if you are refinancing to us.
Meeting your lending specialist

8. Your loan is settled and funded

Congratulations, it’s time to break out the bubbly!  Or whichever beverage of choosing you’d like to celebrate with.

On the agreed settlement date, funds will be transferred and you’ll receive a welcome letter from us.

Tip: Remember, that at anytime in the process, you can reach out to us to discuss any concerns or talk through your application.

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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