bad credit in australia.

Viewing 9 posts - 1 through 9 (of 9 total)

1daysettlement
Participant
@ryan01
Join Date: 2015
Post Count: 3
October 12, 2015 - 11:10 am
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
Kinnon Bell
Participant
@kinnon
Join Date: 2014
Post Count: 151
October 12, 2015 - 12:14 pm
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
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Mortgage & Personal Loan Broker based in Cairns and Melbourne but servicing clients Australia wide.
1daysettlement
Participant
@ryan01
Join Date: 2015
Post Count: 3
October 12, 2015 - 1:04 pm
Im still looking in Australia. Can anyone tell me the process of getting finance from an nz broker for nz ip
Jamie Moore
Participant
@jamie-m
Join Date: 2010
Post Count: 5,069
October 12, 2015 - 1:48 pm
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
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Mortgage Broker assisting clients Australia wide Email: [email protected]
TaylorChang
Participant
@scha9799
Join Date: 2009
Post Count: 234
October 12, 2015 - 2:47 pm
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.
TaylorChang | Finance Broker
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Home loan | Commercial loan | 0414 691 517
Redwood
Participant
@redwood
Join Date: 2013
Post Count: 340
October 12, 2015 - 4:41 pm
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
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SMSF - PROPERTY INVESTMENT - WEALTH CREATION AND FINANCE SOLUTIONS
Corey Batt
Participant
@cjaysa
Join Date: 2012
Post Count: 1,010
October 12, 2015 - 6:49 pm
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.
- This reply was modified 9 years, 2 months ago by Corey Batt.
Corey Batt | Precision Funding
http://www.precisionfunding.com.au
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Investment Focused Finance Strategist - servicing Australia-wide
Richard Taylor
Participant
@qlds007
Join Date: 2003
Post Count: 12,024
October 14, 2015 - 3:27 pm
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
Captain Capital
Participant
@captain-capital
Join Date: 2013
Post Count: 23
October 15, 2015 - 10:24 pm
Get your credit file cleaned up. I just had two defaults removed from my file. Not cheap. Cost me $1000 per default.