Hi i have had bad credit since making mistakes as a youngster. I have now saved a 20% deposit with a stable job and perfect saving record over a year. Was curious if i was better to look at getting finance from NZ and property there as nobody will touch me in australia. Thanks
Are you sure no-one will touch you in Aus? Imperfect credit isn’t the end of the world – some lenders will still provide finance if your credit record isn’t perfect. There even some lenders who will provide finance for discharged bankrupts from day 1.
Kinnon Bell | Kinetic Funding
http://www.kineticfunding.com.au
Email Me | Phone MeMortgage & Personal Loan Broker based in Cairns and Melbourne but servicing clients Australia wide.
Im still looking in Australia. Can anyone tell me the process of getting finance from an nz broker for nz ip
Hiya
All comes down to what’s on your credit file. There are non conforming lenders that might consider.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Bad credit not necessary kill the borrowing.
If it is long time ago, say 5+ years ago, then you still have good chance to get the lending from the major lender(s), providing you have been paying all the creditor(s) on time …etc.
Just like Jamie mentioned above, it’s all come down to what’s on your credit file.
I do alot of bad credit loans – from 1 plus day bankrupt to huge credit defaults, there will be lenders for you, however the product and rate will vary. As you have deposit – what about your income?
Your not priced out, however need to choose the right lender to get the best rate.
Cheers Ivan
Redwood | REDWOOD | SMSF | PROPERTY | FINANCE
http://redwoodadvisory.com.au
Email Me | Phone MeSMSF - PROPERTY INVESTMENT - WEALTH CREATION AND FINANCE SOLUTIONS
As mentioned above, still lots of options for credit impaired – dependent on the circumstances the results can arrange anywhere between marginally more expensive than mainstream credit to extortionate.
Generally first step is to get any debts paid out – ongoing unpaid defaults aren’t going to help you.
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This reply was modified 9 years ago by
Corey Batt.
Corey Batt | Precision Funding
http://www.precisionfunding.com.au
Email Me | Phone MeInvestment Focused Finance Strategist - servicing Australia-wide
Not at all and no reason to look overseas.
Had a non conforming loan approved yesterday for another forum member with adverse credit and have another in today in a SMSF so you are not alone.
Like anything full disclosure goes a long way in getting the deal over the line.
Cheers
Yours in Finance
0-40 Properties in a decade. Ask me how.Richard Taylor | Australia's leading private lender
Get your credit file cleaned up. I just had two defaults removed from my file. Not cheap. Cost me $1000 per default.
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This reply was modified 9 years ago by
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