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.