- We specialise in home loans for people with bad credit history, defaults or credit impairments
- We can structure your application for the highest chance of success
- We have the experience to find a lender that will approve your loan
- We can assist you in improving your credit score & having defaults removed
- No set of circumstances is too difficult for us to work with
- We have been able to get loans approved that have previously been declined
If you have a default on your credit report, have a low credit score, or have not been employed long enough to show a history of earning an income, getting a home loan can be difficult, but it’s not impossible. Many lenders offer a product called a non-conforming home loan, this is a loan that does not require the normal application criteria of a standard home loan. Non-conforming loans will have a higher interest rate than traditional home loans and may have higher fees and charges with less flexibility. Non-conforming loans allow you to get the home loan you require and provide an opportunity to re-establish your credit file, enabling you to transfer to a traditional home loan down the track. An important factor to consider is that the exit fees on non-conforming loans can be quite high if the loan is paid out within the first 3 or 4 years.
- Multiple Credit Applications – Your credit score can be effected if more than 5 credit reports have been obtained for you in the past 12 months. Credit reports are obtained when you apply for any type of credit such as personal loans, mortgages, credit cards or utilities.
- Late or outstanding debts – If your payment on a loan or utility, including mobile phone bills, is more than 60 days overdue and is above $150, it can be recorded on your credit history.
- Recurring late payments – If you regularly make late repayments on any form of credit, this will be recorded on your credit history and you can be considered a bad risk with future lenders.
- Court Judgements – If you have claimed bankruptcy or have a court judgement or court writ lodged against you, these will all be recorded on your credit file.
A Veda credit report will allow you to check your credit history before applying for a loan. You can order a maximum of one free credit file report per year from Veda (fees apply to additional reports) . Veda will send you a copy of your credit report which usually takes up to ten days. If you are making an enquiry to have a loan application processed through Assured Lending, your broker will supply you with an instant credit report at no cost. This report includes declarations of bankruptcy, overdue and outstanding debts, the number of loan enquiries made in the last five years, credit account information, court judgements and court writs.
I couldn’t give a more resounding recommendation.
“Contacting Quintin at Assured Lending turned out to be the best decision we could make. We’d been dealing with another mortgage broker and were having a nightmare of a time. Getting information was impossible, emails took two days to get a response and we ended up putting in an application that was never going to be accepted because the broker was obviously unaware and didn’t care to make sure our paperwork fit the lenders criteria. We gave up and walked away in disgust and decided to try someone else so we called Assured Lending. Quintin knew what he was talking about and was able to explain what possible options we might have. He worked with us throughout, was prompt with his contact and most importantly, got us approval for our loan in a really fast time frame!! A complete 180 on what we had been experiencing with the other broker. I couldn’t give a more resounding recommendation for Assured. If you need a broker – save yourself the pain and just give them a try. I just wish we’d found them in the first place!!” – Andrew McLaren
There are circumstances in which you can have defaults removed and we can assist you in understanding whether or not this can be achieved. If we believe you may be able to have your credit score improved, we can refer you to industry partners to get the job done, prior to your home loan application.
Non-Conforming Home Loans are a speciality of Assured Lending Mortgage Brokers. We have been successful in getting loans approved for clients who have previously been declined going through the banks or other, less experienced Brokers. Because of our experience with these types of loans and our relationship with the lenders who supply non-conforming home loans, we are able to structure your loan application with a higher chance of approval. We understand complex Non Conforming lending and what the requirements are to get a home loan approved under these circumstances so our success rate is extremely high. Call our office today and ask to speak to one of our Non-Conforming Credit Brokers to have a quick, obligation free, phone analysis of your situation.