The product carries two prevailing rates - depending on the loan to valuation ratio requested. For an 80% LVR, the rate is 7.44% - below the current average standard variable rate -and for a 90% LVR, Pepper is charging 8.99%. Other features of the product include: no lenders' mortgage insurance - although borrowers may be charged an equivalent 'risk fee', a loan maximum size of $1.25m, no ongoing account keeping fees and no application fee. "At Pepper, we believe low-doc or self-employed borrowers with a clean credit history should aspire to standard variable interest rates. This is exactly what we are aiming to provide if you borrow an LVR up to 80% with our Xpress Low-Doc Loan," said Duco Sickinghe, director of sales and marketing for Pepper Homeloans.

It can be confusing to know whether to get a variable rate or fixed rate mortgage, and what features are important. That's why it's important to not only check the right rates, but make sure that you're getting the right features in your home loan. Get help choosing the right home loan