All banks have certain lending criteria so when you don’t fit the criteria of a major bank, it can be hard to know where to go from there. This is where our hard-to-get home loan specialists come in. Just because your situation may not fit their policies does not mean you can’t get into your dream home! We are here to look at your situation and find a lender which fits you. This can include bad credit, self-employed, low-doc (low documentation) or unusual/irregular income.

Yes, we have a number of non bank lenders that look behind credit history. If you have unpaid defaults we can still help you obtain a home loan.

Yes, having a low credit score does not mean you can not get a home loan. We have access to over 30 lenders and a few will not credit score at all. So if you have a low or no credit score at all give us a call and let us help you.

Yes, we have a number of lenders what can still help even if you have not done your taxes. They are called Lo-Doc home loans. We will still need some type of proof of income (Accountants letter, BAS statements or business banking statements) However we do not need your full tax returns and financial to be up to date.

With access to over 30 lenders, we can help with as little as 5% deposit (of the purchase price) plus government fees and charges. We also have lenders that can lend 107% of the property value (Family guarantor loan) A direct family member normal mum and dad or sibling who own a property can use their equity in their property as security for you.

Offsets work by reducing how much interest is charged on your loan. Put simply, the interest you’re charged will be based on the amount remaining on your loan, minus the amount you keep in an offset. For example, if you have a $500K loan and $20K is kept in an offset account, you’ll only get charged interest on $480K.

The more money in an offset, the more you can reduce your interest charges. As it’s an everyday banking account you can use the cash anytime like a regular bank account.

As the loan is typically over 30 years, the lender needs to make sure that at the end of the 30 years the whole loan is completely paid off. For example if you had a home loan of $500,000 and $100,000 in the offset and the lender only charged you principal and interest repayments on the $400K and in year 29 you use the full $100K from the offset, then your repayments would skyrocket as you would need to pay this off in 12 months and could put you in hardship with such high home loan repayments. Even though your repayments stay the same you will pay the loan off sooner as it will pay down more of the principal. For example:

Home loan balance of $500,000 with $0.00 in offset account

Proposed Monthly repayments approx $3,063 principal and interest repayments ($2,584 interest and $479 Principal)

$500,000 home loan with $200,000 in offset account

Proposed Monthly repayments approx $3,063 principal and interest repayments ($1,550 interest and $1,531 Principal)

Now you would be in advance by approx $1,034 and might be able to access this extra money via redraw*** as you have paid back more than the minimum amount of principal due to interest savings. If you keep this in redraw, your loan will be paid down must sooner.

***All calculations are general in nature and all banks have different calculations and rules with access to payments in advance,  calculations and repayments will change with loan amounts, funds in the offset and interest rates*** Most banks will withhold a minimum 1 month home loan repayments in advance before you can access redraw, so if minimum monthly repayments are $1,000 and you have $3,000 in advance redraws you might only be able to access $2,000