Bad Credit Home Loans

Applying for a home but worried about your bad credit history? Our ‘Bad credit home loan’ service can help!

When you apply for a home loan from a bank or credit union, lenders look at your credit history to see if they think you would be a reliable person to lend money to. They don’t look at the whole picture when assessing your application, so any extenuating circumstances or other information isn’t taken into account.

When you’ve got a poor credit history and score, It’s not just the fact of having black marks on your file that could get you knocked back. Mainstream lenders may also look at things like the size and type of debts and defaults.

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Despite the effect bad credit has on your financial situation, Seek Mortgages believes that it shouldn’t stop you from buying a home. We offer a range of bad credit home & commercial loans which cater to people who don’t meet mainstream lender criteria so that you too can be a homeowner.

Seek Mortgages is non-conforming lenders with a simplified lending process of individually assessing each application on its merits without applying the same rigid credit criteria that often disqualifies a lot of applicants.

We can help if you have:

  • Bad Credit Rating
  • Mortgage Arrears
  • No Credit History
  • Claimed Insolvency
  • Bad Lender History
  • Claimed Bankruptcy
  • Unpaid Bills / Tax
  • Over Committed
  • Previously Declined Applications

If any of these apply to you, get in touch with Seek Mortgages today to discuss your options. We can even help with debt consolidation.

bad credit home loans
bad credit home loan

Bad Credit Home Loan

 

Black marks on your credit report are from your past, and we believe that they shouldn’t have such a large impact on your homeownership dreams. Whether you’ve been rejected already for a home loan or are worried that you will be due to your low credit score and bad credit history, there’s still hope.

Seek Mortgages assess applications for a bad credit home loan differently than mainstream lenders like credit unions and banks. We look at your current circumstances, financial situation, and other documentation on a more understanding level than traditional lenders.

Because we supplement your application with a more individualised approach to determine your suitability, you’ll be getting the best deal possible as well as a much higher likelihood of being approved.

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Benefits Of Bad Credit
Home Loans

 

The intention of a bad credit home loan isn’t to stay with it forever, but rather more of a short-term fix. While you’ll typically pay a slightly higher interest rate than a traditional home loan, it can work out cheaper for you in the long term than other solutions.

Some people look to sell their home to recoup the money and pay off their mortgage, but this can be a very costly option. It is often actually cheaper in the long term to pay the higher interest rate for a few years.

Instead of selling your home, a bad credit home loan gives you the chance to clear your credit history and stay in your property. After a few years of making the repayments on time, your credit report will be improved, you’ll have increased borrowing power, and you’ll likely be able to refinance for an even better deal.

We’re The Bad Credit
Home Loan Specialists

 

Seek Mortgages offer specialised loan products for those with bad credit history at competitive rates. We also provide friendly support to get you through the home loan application process, and our approval is usually fast.

Seek Mortgages is also flexible in our loan-to-value ratios, which means you may not have to come up with a higher amount for the deposit required by many other lenders.

We want to make homeownership accessible to those who may not otherwise be approved. The Seek Mortgages team always go the extra mile so that you get a much better chance of securing a home loan that suits your specific circumstances.

Call the bad credit home loan specialists at Seek Mortgages today to find out more.

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