Pepper vs. Mortgage House

Discussion in 'Loans & Mortgage Brokers' started by Waterboy, 25th Mar, 2019.

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  1. Waterboy

    Waterboy Well-Known Member

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    Which non-bank providers do you prefer? Pros and Cons?
    Danke!
     
    Waterboy, 25th Mar, 2019
    #1
  2. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    Different animals that occupy a different place

    Toyota or Kenworth


    MHA is a broker and mortgage manager, re selling other lenders products, Pepper funds and markets its "own" funds.

    Pepper would typically have a serviceability advantedge for multiple property investors in terms of borrow cap

    ta
    rolf
     
    Rolf Latham, 25th Mar, 2019
    #2
    AlbertWT likes this.
  3. Chicken or Beef?

    Chicken or Beef? Well-Known Member

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    Sgt Pepper > Crowded house. Easily.
     
    Chicken or Beef?, 25th Mar, 2019
    #3
  4. Waterboy

    Waterboy Well-Known Member

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    Why "crowded"?
     
    Waterboy, 25th Mar, 2019
    #4
  5. AlbertWT

    AlbertWT Well-Known Member

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    So far yes, Pepper seems to be more lenient and willing to lend even people with bad credit history and also highly leveraged.
    But the downside is of course higher rate for both P&I and I/O loan with 70% LVR - 4.92%
     
    AlbertWT, 5th Apr, 2019
    #5
  6. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    well yes and no.

    That 4.92 isnt for bad history OR > 80 %

    pepper typically will lend with that product for a full doc, good credit history, 80 % er, when APRA lenders have run out of puff

    ta
    rolf
     
    Rolf Latham, 6th Apr, 2019
    #6
  7. AlbertWT

    AlbertWT Well-Known Member

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    My LVR is 69.78% and I'm good with my financial history.
    It's quite high, but this is just reported in the preapproval.
     
    AlbertWT, 6th Apr, 2019
    #7