As a borrower, you know that your financial situation is unique to you. Regardless of your circumstances, some avenues are available to you, and you shouldn’t let your past deter you from seeking out a mortgage if that is one of your goals. While you may think that bad credit prevents you from attaining a […]
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Maybe you made some financial mistakes a few years back, but have been working on repairing your credit since. While on that path, you may find yourself looking to buy a home, confident you’re on your way up in your career and ready to leap into homeownership. As a potential homebuyer, a mortgage broker can […]
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Just because you might have bad credit, it shouldn’t discourage you from obtaining a home loan. In fact, lenders now provide flexible financing options specifically designed for individuals with bad credit, known as bad home loans or mortgages. But this raises another question: can you obtain pre-approval for a bad credit mortgage? Let’s first take […]
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Home loans are the leading way Australians purchase homes when they don’t have a spare few hundred thousand dollars laying around. So how do lenders evaluate whether you’re a good candidate for a loan? Every time you spend money on a line of credit, you are building up your credit history. This may include credit […]
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Anyone who’s finally making the decision to seek out and purchase a dream home shouldn’t let a poor credit score stand in their way. Unfortunately, many Australian consumers do have a low credit score, and who think this hinders their ability to get a home loan. A borrower who has a low credit score does […]
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A bad credit mortgage could be the solution that helps you move into a newly built home. For those with a poor credit history, a specialist mortgage loan like this is the best way to get the money you need to buy the home of your dreams as the acceptance criteria is more flexible. Bad credit […]
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Even when applying for a bad credit mortgage, you’ll likely to get a better deal if you take steps to enhance your credit score. In order to review the effect of your improvement efforts, you’ll need to check your credit score on a regular basis, perhaps monthly or even every few weeks, so you stand the best chance […]
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Finding the right bad credit mortgage in 2019 is about understanding which lenders to approach and how to make your application appeal. You may need to take steps to improve your credit score in the long-term or provide a larger deposit. Working with a specialist lending broker makes it easier to understand what’s required and […]
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Releasing equity from a bad credit home loan is possible, although not always as straight forward as in other circumstances. With a bad credit home loan, you’re already considered slightly more risky than other borrowers where traditional lenders are concerned. You may have to prove your reliability and accept a higher interest rate. What is […]
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Bad credit home loans tend to require a higher deposit because they’re riskier for the lender. Mortgage insurers are less likely to provide cover for borrowers with bad credit history, and lenders see applicants without insurance as a potential red flag. By requesting a higher deposit, lenders take steps to protect their investment. What level […]
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