- Failed to pass credit scoring
- Previously been declined
- New permanent residents NZ
- Multiple debts to consolidate
- Needs to payout business/IRD debt
- Cash out needed for business purposes
- Refinance of private/solicitor finance
- Discharged bankrupt
- Late payments or mortgage arrears
- Defaults, judgements or writs
- Self-employed for 24 months
- NZBN registered for 6 months
- Income from casual employment
- Government income from family payments
The default interest rate is equal to the interest rate applicable to your loan account at the time of default + 2% p.a.
Disclaimer: *Interest rates start from this amount, are correct as at 30 March 2020 and subject to change at any time. The actual interest rate applicable to a borrower may be higher than the above interest rate, and will depend on the lender’s consideration of various factors, including the individual borrower’s circumstances and credit history, the loan to value ratio (LVR) and the type of loan product applicable – whether the borrower is applying for a full documentation (full doc) or alternative documentation (alt doc) loan. All applications are subject to Pepper's lender’s credit assessment and loan suitability criteria. Terms, conditions, Fees and charges apply.
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Pepper Money jargon busters: Here to keep things real.