FAQs - Bad Credit Loans Australia
What factors contribute to a low credit score?
The credit rating is usually calculated as a whole and cannot be attributed to a couple of factors. There’s a streak of information which would lead towards your credit score. A history of defaults and missed payments can affect your credit rating. Previously declined credit applications ca reduce your credit score.
How can a Mortage broker help with this?
A mortgage broker knows lenders who are sympathetic towards people with a low or poor credit score. Their good relationship with those lenders enable them to help you secure a loan, just when you’d given up all the expectation of getting one.
For people who have a poor credit score it is relatively essential that the loan to value ratio is relatively small because the less amount you need to borrow the more are your odds of securing a mortgage.
All in all the creditor wants to check whether you’d be able to pay off the loan in time. However this may vary from lender to lender and that’s precisely why you want to use a mortgage agent to help you secure a mortgage especially if you’ve got a poor credit score.
What are Benefits of speaking to some bad credit mortgage agent?
They can connect you to specialist lenders who are more willing to take care of borrowers on a case-by-case foundation. They can make sure that you don’t have more charge enquiries pile up on your credit file. There is a chance you will make your credit history worse when you talk directly to a lender.
They know which lenders must be approached for the needs of every borrower.
They have a deep and comprehensive understanding of solutions especially tailored for borrowers that don’t fit the traditional creditor’s criteria.
They’re qualified and experienced in structuring and advising on the most acceptable mortgage financing for your specific situation and needs.
The Mortgage Broker Melbourne will assist you to use your super in a strategic way and provide you the advantage to maximise your benefit.
They can help you repair your credit file so you may be qualified for a home loan. You can also call us if you need information about Indian mortgage broker.