Bad Credit Mortgages

Life doesn’t always go to plan. We’ve met hundreds of people who, due to one unfortunate circumstance or another, have had their credit file tarnished (from slightly to heavily) and need to seek out bad credit mortgages to achieve the dream of home ownership.

If your credit file means you don’t meet usual lender criteria of a good credit rating, let us assist you in finding the best option amongst available bad credit home loans.

Credit scoring.

Most lenders utilise a computer-based credit scoring system to rate whether or not you are a safe risk. We can arrange to have your loan application assessed by a finance provider who does not use a credit scoring system and is willing to look at the reasons behind your past credit history and assess your eligibility with human eyes. We can help you demonstrate how you have improved your financial position to strengthen your application.

Honesty first.

From arrears to loan defaults, unpaid debts to bankruptcy, we’ve seen it all and so have the lenders. And we’ve still been able to find many people great bad credit mortgages. If you’re honest in sharing with us the story of your credit history, then we are well-positioned to get you a positive outcome and have you on the way to repairing the past.

Specialist lenders.

There are specialist lenders who provide products structured to consider the risk involved. Bad credit home loans generally come with higher fees than standard loans. This is due to the fact that lenders see those with bad credit ratings as a higher risk to lend money to (though this isn’t always the case, they need some generalised rules for lending).

Despite this, bad credit home loans still maintain features like:

• Offset accounts
• Redraw facilities
• Lines of credit, and;
• Variable/fixed interest rates.