Bad Credit Home Loans

Bad Credit Home Loans

Loans for people with bad credit has the broadest range of market leading bad credit home loans & bad credit mortgages.

These home loans are designed to give Australian’s options when they do not meet regular bank’s credit guidelines.

We offer market leading competitive bad credit home loans at rates well below other bad credit lenders.

Our specialist lending managers will assess your full situation and gain a thorough understanding of your credit position in order to give you every chance of being approved.

What are Bad Credit Home Loans?

Home Loans for Bad credit are a type of mortgage that is offered from a non-conforming lender, sometimes called a specialist lender. These lenders can consider all situations, in particular for those with eveidence of poor credit on your credit file.

These bad credit home loans are designed to give Australian’s options when they do not meet regular bank’s guidelines.

Types of bad credit?

There are several credit impairments that will be classed as a bad credit history and these include:

  • Past unpaid bills and loans, or missed payments
  • Exceeding your credit card limit
  • Credit file with ‘too many’ credit checks
  • Previously bankrupt
  • A divorce leaving you in debt
  • Registered credit defaults
  • Part 9 or 10 Debt Agreement

How can you get a home loan with bad credit?

So you’ve been declined for a home loan because you have bad credit. It doesn’t mean you have to wait until your bad credit has been cleared or until you have cleared these bad credit debts.

However, if you continue to keep applying over and over without the help of a specialist lender then you are only making your credit file look worse with many applications.

This is where loans for people with bad credit become your ally. We have specialist bad credit home loan lending managers who are able to assist in analysis of your credit situation against the lending policies of the bad credit home financiers.

If you’d like to learn more about bad credit, feel free to speak with one of our professional Lending Specialists on 1300 769 384 or fill out our quick quote form above.

Common myths about Bad Credit Home Loans.

People with bad credit are not necessarily ineligible for finance for a home loan or investment mortgage.

Generally borrowers seeking a bad credit home loan will require a larger deposit than those required for borrowers with a ‘clean credit history’. The reason for this is because loans for people with bad credit are not easily mortgage insured.

  • People with Bad credit are not ineligible for finance for a home or investment property.

    Borrowers who want a bad credit home loan typically require a larger deposit than those who have a clean credit history.

    This is due to the fact that home loans for people with bad credit are very difficult to be approved when they involved mortgage insurance. Mortgage insurance typically becomes a factor when borrowings required are greater than 80% of the property value.

  • Home loans with Bad Credit can sometimes be provided up to 90% of the property value. But interest rates on these bad credit mortgages can be very high.

  • Obtaining a home loan with bad credit is a bad idea due to the higher interest rates. This is a very misunderstood statement made about many bad credit loans.

    One of the most successful strategies we employ is to first secure the bad credit home loan as soon as possible.

    Once the mortgagee has shown they can make repayments on time for a period of 12 months or more the option of refinancing to a lower interest rate becomes available. We have helped thousands of Australian’s get a home loan with bad credit using this strategy.

How long does bad credit follow you around for?

Your credit report will show all credit enquiries in the last 5 years. Defaults and judgements usually remain on your credit file – both if they have been paid or unpaid. Bankruptcy can stay on your credit file for up to 7 years.

We highly recommend that you get a copy of your credit report so you know where you sit – we can perform a free credit check for you.

Understanding how you can get finance with bad credit is very important, have a read of our tips about getting finance with bad credit.

Why choose us for your bad credit home loans?

Unlike other mortgage brokers, we are specialists in assisting people getting finance when they have bad credit history. We help with a range of home loans for bad credit.

Because we specialise in bad credit we have access to lenders who specifically only deal with bad credit or impaired credit rating clients.

  • Specialised bad credit mortgage brokers
  • 80% of applications approved
  • Access to over a wide range of lenders
  • Obligation Free Application
  • Self Employed or No Financials

It’s simple if you have impaired credit and need access to a leader in bad credit home loans then you need not look any further. Get in touch today and see how we can help you.

Call us on 1300 769 384 or complete a bad credit loan quote form and we will get in touch with you at a convenient time.

Need some more information about how to get a loan and get rid of bad credit?

Check out our other bad credit loans

Check out the #1 bad credit blog in Australia check it out here – Bad Credit Blog.