Non Conforming Loans
Specialist Lending Solutions for borrowers that don’t fit traditional lending criteria.
If you can’t get a mortgage because you don’t fit traditional lending criteria, you’re not alone. In Australia, we estimate that one in five people are unable to obtain credit from a traditional lender. Often this is through no fault of their own and may be due to the tightening of lending criteria, risk profile of lender, change of policy of bank or automatic decline by credit score or Mortgage Insurance.
So, if you’ve been finding the Banks won’t consider your application for finance – it doesn’t mean you’re out of options.
We can lend up to 95% LVR of property value if you have paid or unpaid defaults, have been declined before, a bad credit rating, multiple debts to consolidate, discharged Bankruptcy or Part 9, court writs, judgements or late payments including mortgage arrears. See product Matrix for each product for maximum loans and LVR’s.
Non Conforming Loans
Many Borrowers have become a victim of Lenders tightening their credit policies since the GFC to keep the cost of their funding down. A vast majority of these borrowers are more than capable of servicing a loan but for one reason or another they don’t comply with prime lender policies.
Our Funding Lines will lend to a loan value of 95% on a purchase and 90% on a refinance.
Our Mortgage Loan Specialists are uniquely qualified to assist borrowers who fall outside the traditional lending criteria.
Low Doc Loans
If you do not fit into the Banks format for Self Employed, then you may have already found that finding a home loan can be difficult. We have low doc loans for both clean credit and credit impaired for Purchase, Refinance, Debt Consolidation, Cash Out, Vacant Land and Construction Loans , SMSF Lending for Residential Zoned Properties. Alternative verification of income can include either Accountant to verify, 6 months of lodged BAS statements or 3>6 months of business bank statements or a combination of any 3 to apply for a Self Employed Home Loan.
Our Funding Lines will lend to 90% of property value on a purchase and 85% on a refinance.
Bad Credit Home Loans
Credit Impaired or bad credit home loans are available for applicants that have past or present credit impairments that allow for funding of a purchase, debt consolidation or refinance of Residential zoned property including vacant land or for construction or a SMSF Loan
These funding lines allow for refinancing to a prime loan when credit issues have dropped off from credit file.
Our Funding Lines will lend to a maximum of 95% of property value on a purchase and 90% on a refinance.
Ex Bankruptcy or Part 9 or 10
Get back into home ownership. We have specialist lenders that can lend to applicants that can verify their income up to 95% of the property value on a purchase and up to 90% on a refinance and up to 85% as a low doc on a residential zoned property and purchase or refinance on vacant land to 90% with a lvr of 95% on a construction loan from 1 day discharged bankruptcy as long as no further credit infringements.
We are unable to finance current Bankrupts or Part 9 or 10 unless it is for annulments of bankruptcy or paying out debt agreements.
Debt Consolidation Loans
If you have multiple debts from various sources or institutions such as a home loan, personal loan, credit card or other high interest loans, and you are having trouble paying these off, then it could make sense to roll these debts together with your home loan.
The interest rate on credit cards ranges from 10% to 20% and for personal loans the rate can be anywhere from 9% to 15%. By consolidating these debts into your home loan you can significantly reduce your monthly repayments.
Commercial Loans cover most commercial funding options and are available in Full Doc, Low Doc, SMSF and Lease Doc options for both clean credit and credit impaired options. Maximum Lending to 75% LVR on both purchases and refinance of standard Commercial Property and to 70% LVR on Lease Doc and SMSF Loans.
Funding for property purchases, refinancing of existing loan, equity release for property improvement, investment, cash out, working capital, paying out tax debts and business debts.