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In a bid to stimulate activity in the traditional low doc market segment, Pepper Home Loans will today launch a cash back promotion for its alt doc and full doc loans.
In August, the non-bank lender introduced two new loan products that were targeted at applicants who fell just outside the lending criteria of the major banks and lenders mortgage insurers.
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The two flagship products included a full income documentation loan (full doc) and an alternative income documentation loan (alt doc).
The company’s director of sales and marketing Duco Sickinghe said from today any broker who sells an alt doc loan will receive $750 cash back at settlement, while brokers who sell a full doc loan will receive a $500 cash back.
The cash back promotion follows the company’s decision last month not to increase their standard variable rates, regardless of the Reserve Bank’s movements.
“These incentives are further examples of Peppers continued commitment to our introducers,” Mr Sickinghe said.
