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ISCOVER
Jessica Darnbrough
Pepper Home Loans has today made adjustments to its product suite and turnaround policy.
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Effective from today onwards, the specialist lender will slash 0.5 per cent off its Pepper Self Employed Advantage rates for the first 12 months for all new applications received prior to 31 December.
This latest announcement will take the interest rate on the lender’s product with LVR up to 70 per cent down to 8.24 per cent.
In addition to its product changes, the lender has also introduced a new policy agreement.
According to the company's executive director sales and marketing Duco Sickinghe, Pepper has vowed to give a decision regarding every new loan application within 48 hours or else provide the broker with $150.
"The latest policy changes reflect our desire to re-engage the market. We are determined to offer a viable alternative to the majors," Mr Duco told The Adviser.
"We have always been committed to the broker channel and these changes just reinforce our commitment to them."
