Pepper Money announces new rate initiative
In response to the Reserve Bank’s recent 50-basis-point rate cut, Pepper Money New Zealand has unveiled its Red-Hot Rates Package.
Effective from March 7 through June 12, the promotion offers significantly reduced floating rates starting at 6.69% p.a.
The initiative is designed to provide immediate financial relief to borrowers grappling with the escalating cost-of-living pressures.
Rapid service commitment
“To help address some of the real-world challenges that clients face, we’re unlocking opportunities for borrowers with our Red-Hot Rates package, featuring floating rates from 6.69% with a 24-hour service level agreement (SLA), and flexible affordability options,” said Campbell Smith (pictured), country head of Pepper Money NZ.
The initiative aligns with recent RBNZ data, which has shown a growing preference among homeowners for floating-rate mortgages.
Diverse financial solutions
Pepper Money New Zealand continues to offer a broad spectrum of financial products tailored to meet various customer needs, including:
- Refinancing solutions: Customised options are available to help clients adjust or improve their existing loan terms.
- Non-CCCFA investor solutions: Dedicated products for investors who are not subject to the regulations under the Credit Contracts and Consumer Finance Act (CCCFA).
- Non-conforming loan options: Flexible lending criteria for those who may not qualify for traditional loans due to their financial circumstances.
Supporting financial stability
Smith further commented on the broader impact of these changes.
“Many households and businesses have been managing tight budgets amid increasing costs, and therefore any reduction in repayments can make a meaningful difference,” he said. “Ensuring borrowers benefit from this cut will help them regain some surety and confidence in their financial future.”
