Pepper Money is offering reviewers that provide a review, that is either positive or negative, the chance to win one $250 voucher. This is drawn randomly at the end of each month. This incentive campaign ends on June 30th, 2019. It is possible that the reviews below are written by reviewers that may have received this incentive. For more information, you can read .
Multiple rate increases, lost all benefit of switching my loan over within 3 years
I've never missed a payment and have excellent credit scores (790 experian, 890 equifax) yet my rates are regularly increased and I have to call them each time to complain.They still raise them though, just by a little less than the first amount. As soon as the market goes back up and LVR back below 80% I'm switching. Their web portal is also down for maintenance a lot more than other banks.
Supportive and understanding from the start
My wife and I went to Pepper after going through a broker who submitted our application to mainstream banks which were turned down. I have a credit impairment. We had a dream to own our first home and needed help getting there. After speaking to John at Pepper during our initial meeting I was assured Pepper would do their best to help us. I am pleased to say they have come through in flying colours. We had our pre-approval granted by the end of the week, which meant we could make our offer on our dream home that weekend. Then we started the unconditional approval process. We had some hiccups with the valuation initially coming well under expected but a quick call and email with the Loan Support team and we had a review of the valuation underway. The valuation came back in our favour and we were also pleasantly surprised that we were offered a waived application fee and rate reduction as a way of saying thanks and for going through the under-valuation. We just signed our documents and eagerly awaiting settlement so we can move into our forever home. Hopefully the rest of the process goes smoothly and the support continues. Thank you John and the team at Pepper you have certainly made our dream a reality and helped us where normal banks wouldn’t. Awesome customer service!
Very satisfied with Pepper. Treated like a person not a number. Follow up service has also been fantastic. Easy to deal with, polite courteous and very respectful. Will definitely recommend.
Terrible customer service. Rip customers off
Poor customer service. Rude staff and very hard to understand. They over charge with fees and give incorrect payout figures. They will take more money then they should and then refuse to give a correct refund. Very dodgy , avoid them.
Interest Rate increased in less than a year!!!
So unhappy with these guys. I have only been with them for less than a year and they have already increased the interest rate even after paying more than monthly repayment every month. No appreciation for their good customers!!!
Poor customer services and extremely high interest rate
Poor customer services asked for home loan interest rate as my current credit record improved. Tried to contact customer service and said will get back to me in 2 days. I’ve been waiting 2 weeks and keep call back but still no one get me to me. Finally the result is can reduce 0.02 % if I can sign a new contract to do fixed rate for 2-3 years. That’s absolutely ridiculous, extremely high increase rate and not going to reduce a bit when the customer record improve. Also poor customer services keep transfer me to talk to different staff but no one actually can discuss with me. My home loan interest rate been increased twice in 10 months, the rate is already extreme high and they still keep increase it. Would not recommend this company to anyone.
The process was seamless. Customer service was second to none and could not recommend Pepper Money any higher. Thank you for allowing us to take a different avenue to the big banks.
Pepper Money ....Good name for a Financial Institution that has Loan Shark Interest rates !!!
We acually never applied for a Loan with Pepper a Dodgy Loan Broker ( cannot name for legal reasons) brokered a Loan with Gel Custodians Limited / GE Money/ Permanent Custodians Limited - then became Pepper Money ? All 3 are the same company just Permanent Custodians Ltd trading as Pepper Money -interest rates go up every 3 months 1.7% ave -You cannot communicate with them as they use a Indian Call Centre the Staff are rude and only know how to repeat words from a transcript and repeatably enquire when are you going to pay the arrears ,they bombard you with phone calls at all hours -letters and legal action .
They have no empathy ,compassion if you are fortunate enough to be able to be granted Financial Hardship do'nt expect too much in a decrease in mortgage repayments .
Probably finishing paying this mortgage off a day b4 my funeral ,cannot refinance as with all the defaults that this Loan Shark Co. aka Peppermoney /Gel Custodians Limited / GE Money/ Permanent Custodians Limited have listed against my name I will never be able to refinance :-( - So I'm stuck in Hell with peppermoney .
Please be forewarned as I wish I was - If you wish to keep your sanity & hair and Credit Rating intact PLEASE DO NOT DO BUSINESS WITH peppermoney Gel Custodians Limited / GE Money/ Permanent Custodians Limited as they are akin to selling your soul to the devil - Get a Loan with a Loan Shark if your desperate not a Loan Shark company with the aforementioned names .
Shop around find a reputable Broker ....although if your financial savvy enough or able to educate yourself research ,learn ........broker your own Mortgage .
I wish I did ......as companies like aforementioned prey on folk that are in dire desperate straits ....just like the Mortgage Brokers that "assist" you with dealing with these Devil / Loan Shark Companies .
You are better off with the big bad Banking 4 or Banking Credit Unions
I borrowed $270.000.00 after 15 years of loan repayments of 2.5K per month current Loan Balance is
$259,984,09 !!!! As Perry Mason would say "I rest my case your honour ,proof they are Loan Sharks !!"
I went to Pepper after a difficult refinance due to business issues
Now all my finances are clear for 2 years they are still charging rates like Im a first home buyer with no income!
Looking elsewhere as we speak
Initially competitive rate, followed by frequent rate rises
Much like other negative reviews here, my issue is not how things start, but how quickly the rates rise. It's very disappointing for what seemed like a great alternative to the Big Banks. In 2.5 years my interest rate has gone up by 0.7%, during which time the RBA hasn't made any changes to their interest rate and the Big Banks have remained mostly flat, with some products going down over the same time frame, but I can't find anything else that has gone up even half as much in the same time frame.
I really see no reason to continue doing business with Pepper Money and will gladly be refinancing with a more trustworthy company as soon as possible.
Didn't give me exactly what was required, had 19% deposit, they used starting rate at 5.6% with two interest rate hikes in first twelve months. Maybe I didn't have the best credit rating at the time I applied but I never defaulted on my debts
Everything was completed efficiently and quickly organised by Peppers. Recommend to anyone within hesitation.
Great customer service without any hidden cost. Very satisfied with the receiving loan with pepper money cause quick and easy process without any hassle like other big banks does. Recommend to anyone without hesitation.
Thorough and in depth for my mortgage application
I have a new low-doc mortgage on an investment property because I set up a new business less than 12 months ago. So far, so good. I will say they really went in to all my statements and accounts very thoroughly before issuing the loan. For me I see this as good diligence and not just accepting a broker's numbers as gospel for a loan. It made me revisit my figures and make sure they were accurate as the last thing I would want is to over borrow and get in to trouble.
New to Pepper so I received a very happy, friendly customer service welcome call so I am hoping the rest of the lifespan of the loan is as friendly and positive.
The only deduction of one star is because the interest rate is pretty high! Fair enough for a low-doc loan, I would probably be considered high risk even though I have been doing the same thing for 35 years but under a different business name. Technical points!
This company don’t care stay away from them
Having broken my leg in an accident I applied for hardship payments, as I am not working they looked at our case and declined us citing we could not service the repayments. I offered to pay part mortgage payments but still this was no good,now I am afraid I could lose my home , please don’t go near this company they charge double the interest of the banks and feed off of people’s misery.
They are greedy greedy .
Just refinanced my home loan to Pepper. The transition, help and welcoming was second to none. Today is very difficult dealing with the big banks as we know. Pepper was seamless.
Recommend to anyone without hesitation.
Answer to our prayers to start over again
Pepper became the answer to our prayers... having been a discharged bankrupt we really didn’t have many options at all... Pepper were able to help us, service was very efficient and so far the follow up service has been great... I highly recommend Pepper... if every other lender has said no... don’t give up before you call Pepper
Everything was completed efficiently and quickly organised by Peppers which made refinancing with them a smooth transition. Was given the opportunity to achieve making a few dreams happen with one loan.
Lost my family home
I was financed for a home loan in 2010 through a broker. The broker and Peppers, both never checked my financials, and had the hide to then charge me 17% interest on a $280,000 home loan. I was shown the contracts and was told, we will revisit your loan in 12 months to renegotiate the interest on my loan. After 2 years of struggling and trying to get help with the financial difficulty legislation, I was told by Peppers,theres nothing they could help me with, and unless I got up to date, they would be seeking possession of my family home.
4 weeks later after trying t talk to Peppers, I received an eviction notice to take possession. I tried to contact the broker for Peppers, and his mobile was disconnected. I have since been able to get some of the information, and all my financials were "doctored" to make it look like I could afford the loan and the 17% interest rate. Since loosing my home, I have had to go through a bankruptcy to try and get my,and my families life back to some sort of normality.
Since to Banking Royal Commission, I will now be taking this matter further ,due to the bad practices, and for everything I have lost since going through all of this.
Wonderful service that helps when others refuse
We have just commenced our loan with pepper but so far we are impressed. They gave us a chance to buy our deceased fathers home when no one else would. They were helpful, prompt and efficient. They have given us our dream and with such polite service. They are most accommodating with repayments to suit your pay cycles, honest and helpful advice. They make you feel like a valued customer and not just a loan.
So far great service. It is my first month so hope it stays this way. I’m sure it will.
Happy service, no unexpected fees, Banks said no as I am self employed, so I appreciate the opportunity to own my home even though it is a bit more expensive than banks. Thanks Pepper
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