- 1daysettlementParticipant@ryan01Join Date: 2015Post Count: 3
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. ThanksKinnon BellParticipant@kinnonJoin Date: 2014Post Count: 151
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 1.1daysettlementParticipant@ryan01Join Date: 2015Post Count: 3
Im still looking in Australia. Can anyone tell me the process of getting finance from an nz broker for nz ipJamie MooreParticipant@jamie-mJoin Date: 2010Post Count: 5,069TaylorChangParticipant@scha9799Join Date: 2009Post Count: 234
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.RedwoodParticipant@redwoodJoin Date: 2013Post Count: 340
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 IvanCorey BattParticipant@cjaysaJoin Date: 2012Post Count: 1,010
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.
Richard TaylorParticipant@qlds007Join Date: 2003Post Count: 12,024
- This reply was modified 6 years, 11 months ago by Corey Batt.
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.
Yours in Finance
0-40 Properties in a decade. Ask me how.