PEPPER GROUP MORTGAGES
ESSENTIAL AND ADVANTAGE LOAN DEALS
COMMENCING BUSINESS SPRING 2016
An Australian mortgage provider intends to commence offering three mortgage products on the Irish property lending market, commencing in February 2016.
Pepper Homeloans wants to attract business from both the buy-to-let as well as the residential
segments of the Irish house buying market, using a network of about 20 mortgage and financial
Their mortgage products will be aimed, in particular, at first time buyers, and at people with patchy credit histories or those seeking to switch their loans.
The Pepper Groups's lending products start with the Pepper "Essential" mortgage, designed to cater to Irish residential home owners and buy to let interests.
The Pepper Essential mortgage rates are 3.55 % for owner-occupiers and 4.5 % for buy-to-let properties.
Their next product is the Pepper "Essential Plus", targeted at the self-employed. Here their rates are 3.8 % for residential customers and 4.75 % for investors.
If you have had difficulty in the past, either with the granting of a mortgage, or the repayment of the mortgage, their final loan deal, the "Advantage" mortgage, offers loans from 4.3 % and from 5.75 % for residential and buy-to-let investors respectively.
If you intend applying for the Advantage loan, you need to prove to Pepper Homeloans that you have had at least two years without mortgage payment problems and that you are not currently in arrears or that your property is still in negative equity. The longest repayment term is 30 years for residential borrowers and and 25 years for buy-to-let investors.
The Pepper Group fees include a legal charge of € 1,550, a property valuation fee of € 150 and an arrangement charge of 0.5 %.
Initially at least, the new lending company intends to focus on Cork, Limerick and the suburban Dublin areas.
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