BAD CREDIT HISTORY?
Bankruptcy, Part IX & Part X Agreements, Missed Payments & Bad Credit Reports.
Have you or one of your potential clients had an issue with their credit file. Some people think that is the end of their ability to secure a Home Loan. This may be the case with the Big Banks but fortunately there are many specialised lenders out there who cater to this market. You would be surprised how they view your credit history.
We have lenders who will lend to:
- Day 1 discharged bankrupts
- Paid and unpaid defaults
- Mortgage arrears
- Unpaid bills or tax
- Bad credit history
Australians with bad credit can be declined for a home loan by major banks or lenders for a number of reasons. It could be because of the type of bad credit you have or the size of your defaults but simply having blemishes on your credit file can stop you from borrowing.
The reason is that it shows to the bank that you may be unreliable as a mortgage owner.
However, there are lenders that specialise in bad credit home loans by taking a more common sense approach when assessing your situation. Bad credit home loans are designed to separate and help the ‘outside of the box’ applications from regular people who do not meet the bank’s guidelines.
If you would like to speak to us about your options, please contact us!