Non Conforming / Bad Credit Home Loans

FinanceOK is a specialist mortgage broker for non conforming and bad credit home loans. We understand that not everyone can satisfy the banks traditional lending criteria and this is why we are able to offer a selection of bad credit or non conforming home loans. We often find that a bad credit history is just that, historical and that many people who think they’ll be unsuccessful with their mortgage application are in fact, eligible with the guidance of an expert bad credit home loan broker such as FinanceOK, you will have a better than ever chance of securing the right home loan or mortgage for your specific needs.

How Can We Provide Home Loans For People With A Bad Credit History?

Because we have access to a broad panel of Australian non bank home loan and mortgage providers that offer highly competitive bad credit home loan and bad credit mortgage finance facilities. Our specialist non bank lenders can provide you with a home loan or mortgage at interest rates that remain very competitive, even if you have a less than perfect credit profile.

What Would Qualify A Client Requiring a Bad Credit Mortgage?

Firstly, we don’t just facilitate mortgage loans for people with bad credit alone, as there are many other circumstances where our clients have been refused a mortgage by the banks…for example:

Often, self employed borrowers who want a home loan or mortgage finance but don’t have up to date financials (e.g. tax returns and income statements) often feel as though they have no options available to them.

More often than not, this is simply not the case. A client may well have a business that is growing and in real terms, they can actually afford a bank mortgage, however most banks only look at historic financial data such as balance sheets and income statements for the last two years and if unavailable, bad luck for the client.

Alternatively, specialist non conforming lenders take into consideration the current circumstances of people applying for a home loan and other documentation such as business bank statements, BAS statements or even an Accountants letter confirming income may be enough. In other words, a specialist Low Doc mortgage may well be the option for you. This is why we often get a YES where the Banks have said No.

Generally people who require a bad credit home loan will need a larger deposit than people that have a clear credit history.

Not necessarily. In some cases this may be true, but once again, every borrower application is reviewed on its own individual merits.
In some circumstances, bad credit home loans can be obtained for clients that require up to 95% of the property value, however 80% is usually the desired benchmark to work to. Some of the specialist lenders we work with Bluestone and Pepper Money plus many more. Leave it to us and we will make sure we place your loan with the correct lender.

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✅ Borrow up to 95% of the value of the property on a purchase up to 90% on a refinance 

✅ Paid or unpaid defaults are OK

✅ Can lend Australia wide

✅ 1 day discharged bankrupt OK

✅ Currently or previously in a part 9

✅ Over the limit and late payments on Credit cards or personal loans