Bad credit home buyers
Bad credit doesn’t mean no.
Your credit history is one part of your story — not the whole story. We help borrowers with imperfect credit find lenders who look at the full picture.
Your credit history is one part of your story — not the whole story. We help borrowers with imperfect credit find lenders who look at the full picture.
Bad credit doesn’t happen because you’re irresponsible. It happens because life happens.
Bad credit doesn’t happen because you’re irresponsible. It happens because life happens:
The problem: traditional bank credit scoring is blunt. It flags the negative and forgets the context.
Lenders we work with do ask those questions. And that makes all the difference.
When you apply for a mortgage, lenders assess much more than your credit number.
Yes, they look at defaults, missed payments, CCJs, and credit card debt. But they also look at how long ago these happened and whether you’ve cleaned things up since.
Are you managing money well now? Are you employed? Are your recent bills paid on time? A default from five years ago carries less weight if you’ve been spotless for the last two.
Can you comfortably afford the repayments? Lenders use serviceability calculations to work this out. If your income is solid and you can prove you can handle the payments, that matters more than a rough patch from years back.
How long have you been in your job? Is it stable? Are you permanent, fixed-term, or self-employed? Different lenders have different risk appetites here.
The more equity you’re bringing to the table, the less risk you are to a lender. A larger deposit can offset a weaker credit history.
This matters more than people realise. If you come clean about what went wrong, explain what changed, and show you’ve got a plan, lenders respect that. If you hide things or make excuses, you lose trust.
The label is broad — but the opportunities are broader.
Usually manageable. Lenders want to know it was a one-off or a tough period, and that it’s resolved now.
The older the better. A default from 2015 is less of a problem than one from 2023. After six years, it disappears from your credit file entirely.
This shows you’re over-leveraged, but it’s often fixable. Some lenders will approve you on the basis that you’ll pay down the debt at settlement or restructure as part of the new loan.
These are harder but not impossible. Specialist lenders exist for these situations. The key is how long ago and whether you’ve rebuilt since.
The point: your specific situation matters far more than the label “bad credit.”
When you have bad credit, the wrong advice can cost you years and thousands of dollars. The right advice can get you approved when the big banks say no.
We look at what happened, when, and what’s changed since. We don’t just look at the score; we look at your story.
Our panel includes non-banks, specialist financiers, and lenders with flexible credit criteria. Most borrowers don’t know these exist.
There’s a right way and a wrong way to present a bad credit history to a lender. We present the facts in the best light, with context and honesty.
Different lenders have different risk appetites. We match your situation to lenders who are open to it.
The process can feel uncertain and stressful. We keep you informed about what’s happening and what to expect.
Interest rates for bad credit borrowers vary wildly. A 1% difference in rate costs you tens of thousands over 25 years.
Bad credit doesn’t lock you out. But you need the right adviser and the right lender.
Challenge: The default is still showing on credit file, even though employed again for 18 months with no late payments since.
Solution: We found a lender willing to focus on the last 18 months of good behaviour and the current stable employment. Pre-approval issued. Subject to lender assessment.
Challenge: Credit utilisation is high. Banks see this as a red flag. Self-employment adds another layer of complexity.
Solution: We structured the application to show business profitability and explained the debt was historical. Found a lender willing to approve on the condition that credit card was cleared at settlement. Approved.
Challenge: The CCJ is old, but it’s still showing on the credit file and still scares traditional lenders.
Solution: Specialist non-bank lender willing to look past the age of the judgment and focus on five years of good behaviour and solid employment since. Approved with a slightly higher rate, but approved.
From your first conversation to settlement and moving in — we guide you every step of the way.
If you have bad credit, you need to know what to expect.
This is usually the biggest trade-off. A borrower with excellent credit might get 5.5%. A bad-credit borrower might get 6.2–7.0%, depending on the lender and situation. That’s a real cost over 25 years.
You might need a larger deposit, a co-borrower, or a guarantor. You might need to clear some existing debt before approval. You might not be able to borrow as much.
Bad credit applications take more due diligence. Expect 2–3 weeks longer than a standard application.
Some lenders will only approve you after you’ve cleared debt or spent 6–12 months building a clean payment history. This is negotiable with the right adviser.
The good news: none of these are permanent. Once you’re approved and settled into your mortgage, you’ve got 3–5 years to rebuild your credit. After that, you can refinance at better rates with better lenders.
We believe in honesty about what things cost. Here’s what you need to know.
Different lenders charge different fees for processing, valuation, and settlement. We’ll disclose all lender fees upfront as part of your pre-approval documentation so there are no surprises.
Note: Lender fees vary and are subject to individual lender assessment and criteria.
Our service is free to you in most cases — we’re paid a commission by the lender when your mortgage settles. For full details about how we’re paid, any fees that may apply, and our conflicts of interest, please review our Disclosure Statement.
The questions we hear most often — answered in plain English.
Bad credit is a bump in the road, not the end of it. Let’s have a free chat about your situation and work out a plan.