Past Credit Issues Home Loan Wollongong

Often yes. Defaults, late payments or a patchy credit history do not automatically rule you out. Specialist lenders assess these situations case by case, looking at what happened, how long ago, whether it is resolved and your current position.

Mainstream lenders take a stricter view, while specialist lenders are set up for exactly these circumstances, usually at a higher rate that can often be reviewed later once your file strengthens.

Lenders in this space consider a range of situations, including:

• Defaults and late payments

• Previous arrears now brought up to date

• Discharged bankruptcy or part nine agreements

• Higher levels of existing debt

Each is assessed on its own merits. We will look at your file honestly and tell you what is realistically achievable.

Usually yes, at least initially. Specialist lending is priced for the additional risk, so the rate is typically higher than a mainstream loan. The trade off is getting into a home or consolidating your position now rather than waiting.

In many cases the loan can be reviewed and refinanced to a sharper rate down the track once your repayment history and credit file have improved.

Every application marks your credit file, and multiple applications in a short period make things worse. That is why it is important to have your situation assessed properly and submitted once, to the right lender, rather than applying repeatedly and being declined.

We assess where you realistically sit before anything is lodged, to protect your file.