Search found 3 matches

by
Fri May 10, 2019 5:16 pm
Forum: Home Loan Forum
Topic: Parental loss and funeral costs caused bad credit
Replies: 5
Views: 11458

Re: Parental loss and funeral costs caused bad credit

I guess beggars can’t be choosers. Sounds like our only option is a specialist lender, what are their interest rates like?
by
Fri May 10, 2019 3:07 pm
Forum: Home Loan Forum
Topic: Parental loss and funeral costs caused bad credit
Replies: 5
Views: 11458

Re: Parental loss and funeral costs caused bad credit

We’re only looking to borrow 80% or around $2,60,000, so the deposit won’t be a problem. How do I make sure I have the best chance of approval as I don’t want to have any more credit enquiries added on my credit file?
by
Fri May 10, 2019 1:42 pm
Forum: Home Loan Forum
Topic: Parental loss and funeral costs caused bad credit
Replies: 5
Views: 11458

Parental loss and funeral costs caused bad credit

Hi, when both my parents passed away two years ago, I had to take care of their funeral proceedings, the funeral director quoted me $15,000 for the whole ordeal, which I put on my credit cards. I was in the process of looking for a new job in a new city after being made redundant as such I couldn’t afford to make the full repayments on those debts. I paid out one of the cards which I still use for my day to day living expenses, as for the second card’s $5,000 balance which simply put I couldn’t afford to repay at that time, it was listed as a default. I paid off the default fully once I secured another job in Melbourne but my credit score is still less than ideal. We’re both first home buyers looking to purchase our first family home preferably in and around Ballarat, but I’m apprehensive about our chances of approval due to my bad credit score. What’s the lending criteria around bad credit?