This loan is designed to assist those borrowers with bad credit or a poor credit history to purchase or refinance a home. By refinancing and consolidating your debts you may be able to minimise your repayments, settle debts in default and eventually clean up your credit rating. The level of impairment can range from arrears to bankruptcy with interest rates determined by level of credit impairment and LVR
At some point in the past, a borrower may have experienced difficulty in meeting their monthly commitments due to lack of work, in suffering an unexpected business loss or by having a difference of opinion with a former credit provider. Unfortunately, in these cases the former credit provider may have lodged a payment default (or black mark) on their credit report with a credit recording agency.
When applying for finance, a default lodged on a credit report may cause frustration as a lender may not take the time to understand the borrower’s explanation and surrounding circumstances on which the default occurred.

Credit-Impaired Loans are designed especially to assist a borrower in these circumstances. Usually these loans incur an extra interest rate margin and possibly extra fees and charges

Fill out our online application now to find out how we can help you with your non conforming loan