Major banks and lenders will likely decline your home loan application due to your bad credit history. However, there are non-conforming or specialist lenders that are more flexible with their lending policies.
They tend to assess your home loan application on a case by case basis and listen to your side of the story as to what went wrong and why getting a home loan will put you in a better financial position. They understand that many Australians who fall into bad credit aren’t unreliable borrowers, most of them have simply had an unfortunate life event happen such as job loss, divorce, injury or business failure that has resulted in blemishes on their credit files.
The type of defaults, the dollar value, how old they are, if they’re paid or not and the total number of defaults are all taken into account by our lenders. You can learn more about home loan with defaults
We specialise in bad credit home loans.
Speak with one of our specialist mortgage brokers by giving us a call on 1300 889 743
or by filling in our free assessment form
to find out if you qualify for a bad credit home loan.