Changes to Resi Renew and Restart Construction Product

Effective 1 March 2019 Off the back of strong demand for Renew / Restart (Pepper Money) construction loan products in 2018, Resi are making changes to their construction offering in order to ensure a balanced portfolio is maintained.

Effective 1 March 2019, Pepper Money will no longer accept applications for Renew Near Prime Construction and Renew Prime Alt Doc Construction products.

For the Renew Prime Full Doc and Renew Ultra Full Doc Construction products, a minimum NSR of 1.10 is required where the LVR is <= 90%, and a minimum NSR of 1.35 for loans where the LVR is > 90%

Effective 4 March, to assist with the verification of income and expenses, Pepper will require all loan applications to be accompanied by three months' worth of personal transactional bank statements, that have been issued within the last 30 days.

To assist with a smoother application process, download the Resi Renew / Restart application process; this document outlines the latest contact points and how the application process flows.

NO RISK FEES Near Prime and Specialist

Near Prime: No risk fees up to 85% on most products

  • Unique pricing proposition which minimises entry costs (no risk fees for many customers) making Resi's solution the cheapest in market for those that need a funding solution as a stepping stone back to prime lending.
  • Full Doc, Alt Doc (Declaration of financial position plus one of: Accountant Letter; 6 months Bank Statements or 6 months BAS)
  • Unlimited defaults, judgements and writs up to $1,000 accepted (paid or unpaid)
  • Unlimited defaults, judgements and writs > $1,000, registered > 24 months (paid or unpaid) accepted
  • Discharged from bankruptcy (1 day accepted)
  • Debt consolidation for an unlimited number of debts including payout of ATO debts

Resi's loan product is the best in market for someone that needs a solution today and intends to refinance into prime within 2 - 4 years' time.

Specialist: No risk fees up to 85% on most products

  • Unique pricing proposition which minimises entry costs (no risk fees for many customers) making Resi's solution the cheapest in market for those that need a funding solution as a stepping stone back to prime lending.
  • Full Doc, Alt Doc (Declaration of financial position plus one of: Accountant Letter; 6 months Bank Statements or 6 months BAS)
  • Unlimited defaults, judgements and writs up to $1,000 accepted (paid or unpaid)
  • Unlimited defaults, judgements or writs from 1 credit event < 12 months (paid or unpaid)
  • Discharged from bankruptcy (1 day accepted)
  • Cash out up to 80% LVR for acceptable purposes including renovations and business use
  • Debt consolidation for an unlimited number of debts including payout of ATO debt

Download the Latest Resi Rate Sheet