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Bad Credit Home Loans for Purchasing and for Debt Consolidation – Your Guide by Non Conforming Loans Pty Ltd

When applying for a home loan, your credit history is one of the most important parameters that lenders take into serious consideration. Low credit score or a bad credit history dotted with paid or unpaid defaults and other financial troubles can often make it difficult for you to qualify for a traditional home loan.

(PRUnderground) January 8th, 2024

Borrowers with a Bad Credit History can still get a Home Loan in Australia

Most banks and major institutional lenders follow traditional rules and criteria for lending for bad credit home loans and bad credit mortgages. They follow a specific set of approved criteria which includes a person’s current and historical good or bad credit history.

This means that obtaining finance through traditional bank lenders is not easy when you have a poor or bad credit history. Many people with low credit scores or even discharged from bankruptcy in Australia have managed to buy residential properties by arranging Non Conforming financing! If they can do it – you can do it too!

One of the key factors in being eligible for a bad credit home loan is stability of income. What you must remember is that the lender is making concessions for the fact that you have bad credit or have had bad credit, and therefore other aspects of your loan application, such as your employment history need to be extremely strong to compensate.

If you have been working in the same industry for a lengthy period of time, even if you have changed positions, then it is imperative that you mention your employment tenure and emphasize this and that you see no reason in the foreseeable future for the stability of your position to change.

To support this provide the lender with any additional supporting information, such as letters from your employer, recommendations, past achievements anything you can think of to strengthen and support your advices to the lender that your income and employment is stable. These kinds of things will actually help lessen the impact associated with your bad credit history.

In addition, if you are renting, provide your new lender with evidence from your landlord of your consistency in rental payments. This will assist in highlighting to the lender that you are of good character and have the capacity to make ongoing regular repayments – again offsetting the impact of your bad credit. If you are not fully aware as to the actual condition of your credit file it is imperative that you obtain a copy and analyze it thoroughly.

Once you have a clear understanding of what impairments are on your file you are able to approach your broker with a clear picture as to the bad credit you have incurred. Armed with this information, your broker will be best placed to ascertain the most suitable bad credit home loan options available to you.

In most cases, It is possible to borrow to 95% LVR on a purchase and to 90% LVR on a refinance in a high population area. Your refinance can include debt consolidation loans with bad credit.


Bad credit home loans offer a valuable solution for the credit impaired seeking quick and hassle-free access to a home loan. However, as with any financial decision, thorough research and careful consideration of the terms and conditions are essential to ensure that a bad credit home loan aligns with your goals and financial capacity.

About Non Conforming Loans

Non Conforming Loans have Non Bank Lending Solutions for Borrowers that don’t fit traditional lending criteria. We are the experts in finding ways to assist with your loan approval.

The post Bad Credit Home Loans for Purchasing and for Debt Consolidation – Your Guide by Non Conforming Loans Pty Ltd first appeared on

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