Sometimes things happen in life which can result in some adverse or bad credit on your credit report.
We understand that this can happen in life, and it does not mean that you are a bad person and it does not mean that you cannot get a home loan either but it can make it harder and especially if you are talking to the wrong people.
I am the right person to speak with about your situation.
What is Adverse or Bad Credit?
Everyone has different expectations and the banks and lenders are a bit the same and especially when it comes to larger financial commitments like home loans.
Most lenders will use a credit reporting agency like Centrix to get a report and credit score.
These reports have details on past credit and account conduct, so if you have been late paying bills or had defaults, judgements and even bankruptcy then those are likely to show up on your report.
It will also have a credit score that represents what the perceived risk of lending to you is. Some banks and lenders will have a policy of not lending to people with a credit score that is deemed too low (ie: under 300) but others understand that these scores are not an exact science and therefore are open to offering finance to people regardless of the credit score.
We encourage you to get a free copy of your report to see exactly what it says.
You will receive your credit score via email and you can forward that to me so we can review together.
Look Forwards, Not Backwards
The banks and even non bank lenders will look at your history as that is all they have to base things on, but I prefer to look forward at what things will look like for you in the future.
The aim is to establish your position today, explain the past and then focus on the future.
Typically the non bank finance is to get you from A to B – from now until your future.
You Need Specialist Advice
If you want a home loan and have some adverse or bad credit then you will need some help with your application, and with dealing with the decision makers.
As a specialist non bank broker I can work with you to help you get the lending that you require.
This is something that I’ve been doing for over 25-years and I also have a good reputation with the lenders that offer this type of finance. It’s worth making the effort to get good advice, and especially for things like bad credit home loans or when adverse credit is making things harder.
