A Cut Above the Rest
Our Mortgage Brokers in Sydney are choice-cuts above the rest of their colleagues. Why? They specialize on a sticky area of mortgage where only a few dare to tread. It is “off the beaten path”, yet they muster the skill to help you through it.
They specialize on bad credit and how someone may still qualify despite of a bad credit status.
A bad credit history is one of the chief reasons why a loan may be denied. It may have resulted from various factors such as poor spending habits, bad payment practices, adverse situations or emergencies.
Your Credit Rating: Good or Bad?
Your credit rating is counterchecked whenever you apply for a mortgage loan. Between your credit rating and income requirements, the former puts weight on either loan approval or disapproval. Nothing compensates for a bad credit record.
How is your credit rating analyzed?
Did you have unsettled past due accounts? Does your record show charges on late payments? Did you apply for bankruptcy, or were there foreclosure advices against your name? Were there court judgments levied against you which pertains to credit?
Is there something our Sydney Mortgage Brokers can do?
Here is our counter-query: Are you willing to repair your bad credit rating?
Many lenders in the mortgage market place will offer remedies through the use of credit card. They believe that once a borrower shows marked responsibility in the use of his credit card privilege, he can repair his bad credit rating. Some lenders may re-activate a borrower’s credit line with the chief aim of erasing a bad credit history.
These are but some options you may go over with any of our Sydney Mortgage Brokers. Unlike other brokers who will lead you to a trap of excessive loan rates, terms and conditions in exchange for these remedies, our Sydney Mortgage Brokers will tell you the pros and cons, upfront.
The Pros
Bad Credit Loans can help you reestablish your credit standing by making either partial or full payments towards your mortgage on time. Any unfavorable information that may have been entered into your file due to a previous imperfect credit status can be removed.
The Cons:
Bad Credit Mortgage has higher rates than regular mortgage. Terms and conditions are stiffer.