Credit Impaired Loans

Problems with your credit history need not stop you from getting a home loan ...

Credit impaired loans or non conforming loans are for customers who have had loan arrears, unpaid or paid defaults and judgements, a history of bankruptcy or limited financials. The loans are designed to cater for sceanrios which fall outside mainstream lender's criteria.

Non conforming loans are specifically designed to suit people that are:

• self or newly employed


• credit impaired


• working part-time, casual or as a contractors


• without a sufficent deposit


• variable or seasonal income


• using non tradtional security


• retired or semi retired

Lenders that offer credit impaired loans have different guidelines and have interest rates determined by the LVR and level of credit impairment.

If you are not sure whether or not you have a credit default registered against your name, you can check your own credit rating at mycreditfile.com.au.

Securing a credit impaired loan is often the first step to repairing a poor credit history. By refinancing and consolidting your debts you may be able to minimise your repayments, settle debts in default and eventually clean up your credit rating ready to move onto a mainstream home loan with lower interest rates.

Contact us for further assistance.