Sometimes life can throw the unexpected your way and things don't go according to plan – leaving you with a bad credit rating. With Liberty, bad credit doesn’t have to hold you back when it comes to getting a home loan.
Our home loans help you rethink your current financial circumstances and let you take the next step forward. You don’t live in the past, and neither do we – so it shouldn’t have to hold you back from achieving your dreams.
Speak to Liberty to get things moving in the right direction.
Don’t let your past hinder your future
Even with a poor credit history including paid or unpaid defaults, mortgage arrears and bankruptcy, Liberty doesn’t rely solely on credit checks to assess your eligibility for a home loan. Instead, we listen to your full story to help find a home loan solution that works for you.
What bad credit means
Having bad credit often means there is a default listed on your credit report. This affects your credit score and can make you appear riskier to some lenders, making it difficult to secure finance.
Most lenders will also consider applicants to have bad credit if they are behind in their existing loan repayments.
Applying for multiple loans with different lenders within a short timeframe can also reduce the credit score on your credit report.
How to check your credit report
If you are unsure of your credit history, you can request a free copy of your credit report by visiting mycreditfile.com.au.
This report will include the information about why you might have a bad credit score, including previous loan enquiries, past credit providers, unpaid debts and credit infringements.
Causes of bad credit
There are many factors that can cause bad credit. Very often circumstances such as losing a job, an unexpected illness or family separation can lead to financial struggle and bad credit.
When circumstances change, it’s important to have a lender who will look at ways to help you get back on track.
Bad credit loan solutions
Liberty has a range of home loans to suit your needs and help repair bad credit. In fact, our home loans are flexible and can adjust over time to reflect improving circumstances.
At Liberty, we look at your whole story to understand the circumstance of your financial history.
Talk to a Liberty Adviser about bad credit
If you have bad credit and need a home loan, contact a Liberty Adviser today to discuss your options.