This loan is designed to assist those borrowers with bad credit or a poor credit history to refinance a home loan and consolidate debts.

How Much Can I borrow on a refinance if credit Impaired?

Generally the maximum lvr is 80% of Property Value however we do have some specialist funders that will go to 90% depending on defaults on a refinance.

Each loan has to be treated as an individual basis so it is important to deal with a broker that has several options and is experienced in this category of lending.

The matrix below gives you an overview of product perimeters however it is best to phone or apply online so we can analyse your unique circumstance.

Applicant type Individuals, Companies, Trusts.
Employment requirements P.A.Y.G. is O.K. Self-employed must be Fully Verified
Income: required proofs Payslips, group certificates or employer letter. Self-employed, two years tax returns and assessment notices.
Loan amounts $50,000 > $1,500,000
Purpose Owner-Occupied, or Investment for purchase.
Security type Most metropolitan and major regional centres (post code specific – please ring or email to check).
Acceptable Security includes:
Zoning of a Residential nature that permits residential usage House or Unit.
Apartments more than 50 sq m in size (excluding balconies).
LVR Maximum LVR on credit impaired loans is 90% of property value.
Credit related issues Credit Issues to 90% LVR.
Paid or unpaid defaults and judgements accepted and up to 2 mortgage arrears.
Where the reason is Impaired Credit‚ a detailed account of how and when the impairments occurred; as well as an explanation on how and why the event is no longer an ongoing concern with little likelihood of re-occurrence.
Variable, fixed or both Both
P&I, I/O, or both Both
Residency Status Citizens and permanent residents
Comments, special conditions Generally a Risk Fee is Payable instead of mortgage insurance
Approximate rate Final LVR & Interest rate are dependent on security location (Restricted to Capital Cities and Major Regional areas.

Online Application Form

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