Issues with bad credit? Look to a home loan with Liberty today.

Frequently asked questions

• Can I get a home loan with bad credit?

  Many people with bad credit are reluctant to apply for a home loan and are often told they will not qualify for a mortgage – this may not be the case. At Liberty, we have a range of home loan solutions designed to help people from all walks of life get financial. Even with a less than perfect credit history including paid or unpaid defaults, mortgage arrears and bankruptcy, Liberty can work with you to find a great home loan solution.

• How do I know if I have bad credit?

  If you are unsure of your credit history, get in contact with a credit reporting agency like Veda, Dunn & Bradstreet or Experian for a free copy of your credit report.

  This report includes much of the information that counts towards a poor credit score including number and type of loan enquiries, type of credit providers, unpaid debts and credit infringements.

• What does having bad credit mean?

  Having bad credit often refers to there being 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 be approved for finance.

  Liberty’s home loans can provide the flexibility borrowers may need to rethink their current financial situation and take a step forward.

• What can cause bad credit?

  When it comes to applying for a loan, most lenders consider an applicant to have bad credit if they are behind in existing loan repayments or have a poor credit report.

  A poor credit report can be caused by many factors. For example, not paying or late payments on a utilities bill, can lead to an unpaid account listed as a default.

  Similarly, applying for multiple loans with different lenders within a short timeframe can reduce the credit score on your report. If you have poor credit and are interested in our home loans to you move forward, speak to a Liberty Adviser today.

• What are my options if I have bad credit?

  Liberty has a range of home loans to suit different borrowers 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 a person’s whole story so we can understand the circumstance of your financial history.

• Should I tell my broker I have bad credit?

  If you know you have poor credit, you should tell your broker. If you let them know, they can help find you a lender such as Liberty, that will listen to your full story and consider your application even with a lower credit score.

  If you know you have bad credit and need a home loan, talk to a Liberty Adviser or broker today to discuss your options further.