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Credit Issues

Can I get a mortgage if I have bad credit?

There is no straight yes or no answer to this question.

I have often been able to obtain a loan for someone with bad credit.

Especially if there is a good story to accompany the issue and the applicant is otherwise a good lending prospect.

Example: Recently I had a chap who was trying to buy a home on his own because the bank had said that his partner couldn’t borrow due to her default registered with Baycorp. The problem was that both incomes were needed to support the borrowing, so my client gave up on buying the home as he couldn’t afford the mortgage on his own.

I got his partner to write an explanation regarding the default and submitted an application to the same bank who had said no. I pointed out to the lender that this was her only default and was since paid, that she had stable employment, good income, and excellent account conduct and deserved a chance. The loan was approved at prime interest rates!

If the bank had declined the loan there were other options where I could obtain the lending for these clients.

A lot of people have genuine circumstances that have led to credit issues, such as illness, and unemployment, relationship breakups etc.

What they need is a strong advocate to put a case to the lender of the current situation. I also have access to lenders who specialise in helping people who the banks can’t help.

If you feel that bad credit may be holding you back, contact me today to discuss your situation. We may be able to help.

We may also be able to look at consolidating short term, high interest debt into lower easier monthly payments thereby helping you to avoid getting credit issues.