Bad credit mortgages exist to help borrowers who are suffering from less than perfect credit histories. However, there are others out there looking to take advantage of these consumers. The Australian Securities & Investments Commission (ASIC) warns consumers to be wary of credit repair scams. Types of credit repair scams There are various forms of […]
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Bad credit mortgages are designed to help specific home loan borrowers, but many Australians may not know if they’re part of this demographic or not. While it pays to talk to a loan specialist to explore your options and determine which mortgage is best suited to your needs, there are certain financial circumstances that will […]
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Sometimes having no credit history can be worse than having a bad credit history. Even borrowers who have gone through bankruptcies and other financially damaging situations can obtain specialised loan products like bad credit home loans. Fortunately, there are strategic ways to build a credit history if you’re starting from scratch. First, keep in mind […]
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Poor credit can make obtaining a home loan much more difficult, but that doesn’t mean gaining access to the finance you need is impossible. There are plentyof strategies you can use to make yourself more attractive to lenders. Collateral The reason bad credit makes it harder to get a mortgage is because it shows lenders […]
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It’s only natural to want to improve your credit, as it impacts many aspects of your financial life. This is especially true when it comes to borrowing money, making a strong credit score something all home loan borrowers should strive for. While there are lots of ways to improve your credit, there are also lingering […]
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As people who have found themselves in need of bad credit mortgages can attest to, your credit report can have a major impact on your ability to obtain home finance. It’s with this mind that you should take time to understand exactly how your credit report is compiled, as well as ways in which to […]
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Australian consumers aren’t the only ones that may struggle to build up their credit. According to a December media statement from Treasurer Troy Buswell, the government of Western Australia is looking to restore its AAA credit rating through asset sales. “The combined effect of reduced expenditure – both in recurrent and asset investment- increased revenue, […]
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New creditreporting rules set to go into effect in Australia in 2014 have some peopleconcerned. Veda, thelargest credit reference agency in Australia, says the new rules are intendedto transform the country’s credit reporting industry for the better. “Australia’scurrent credit reporting regime is over 20 years old,” theorganisation stated on its official website. “Itpermits the collection […]
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MoreAustralians are finding it difficult to stay up to date with their mortgagerepayments, according to data from Fitch Ratings. The FitchRatings Mortgage Delinquency Report showed that 1.25 per cent of home loancustomers were 30 days or more behind on repayments as of the end of September. While this is lower than the level of borrowers […]
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Improving your credit score by even a small amount can help your chances of being approved for a bad credit mortgage. Whether you’ve made financial mistakes in the past or you’ve been the victim of circumstances outside of your control, a bad credit score can limit your borrowing choices. A bad credit mortgage may be […]
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