Bad Credit History

If you have a bad credit history, you may find it difficult meeting traditional lender assessment criteria. Fortunately, in today's lending market, there are specialist lenders who offer home loans for the credit impaired or those with a poor or bad credit history.

When am I considered credit impaired?

• If you have ever been declared bankrupt
• If you have defaults appearing in your financial record.

Non-conforming Loans

These are usually offered by specialist lenders and are available to borrowers with a bad credit history. Be aware that most lenders would consider people with bad credit history higher risk and as a result, you may most likely be required to pay a higher interest rate. However, while these home loans assist people with bad credit history, they can be complex - your realestate.com.au Home Loans mortgage broker can provide you with an overview of home loan products that suit people with bad credit history.