There’s a number of good reasons why you might find yourself with a bad credit history.
It could be that you missed a payment, made ‘too many’ credit enquiries, suffered a temporary sickness that resulted in months without pay, went through a divorce or even owned a business that struggled. The causes can be quite diverse and sometimes it’s simply down to bad luck or poor personal admin. Whatever the reason, we understand that it’s just something that you can experience from time to time.
Whether you call it a bad credit history, adverse credit or impaired credit, it can in fact be quite problematic with some lenders when it comes to a home loan. Let’s say you apply for one with a lender who uses an automatic credit scoring process. Your application could instantly be declined because of credit impairment - all without giving you the chance to explain your side of the story.
Pepper however takes a different approach. For starters, we certainly don’t write you off just because you might have a less than perfect credit history. When we assess your application for a home loan, we like to ask you about it. We’re more interested in your circumstances. What happened? Why did it happen? And how likely is it to happen again? What’s more, we take into account your current financial situation. Not just your past defaults.
If you think your credit history is affecting your ability to secure a home loan, or if a credit check has found adverse credit events, you can talk through your situation with one of our Lending Specialists.
We’ve helped many borrowers who have experienced a wide variety of small to large credit impairments including:
- Currently or previously in arrears
- Missed or unpaid bills
- Credit file with ‘too many’ credit checks
- Registered Credit defaults
- Discharged Bankruptcy
- Part 9 or 10 Debt Agreement.
Your credit history shouldn’t be the difference between a yes or a no. For this reason, Pepper has created a range of home loan options that you may be eligible for.
To find out more or if you’d like to apply for a home loan, give one of our Lending Specialists a call on 13 73 77. Have a chat about your situation and we’ll see how we can help.
Pepper has helped thousands of borrowers just like you. Read their stories.
This article provides you with factual information only and is not intended to imply any recommendation about any financial product(s) or constitute tax advice. If you require financial or tax advice you should consult a licensed financial or tax adviser. Neither Pepper nor its related bodies, nor their directors, employees or agents accept any responsibility for loss or liability which may arise from accessing or reliance on any of the information contained in this article. For information about whether a Pepper loan may be suitable for you, call Pepper on 13 73 77 or speak to an accredited Pepper Money broker.
All applications are subject to the credit provider’s credit assessment and loan eligibility criteria. Terms, conditions, fees and charges apply. Information provided is factual information only and is not intended to imply any recommendation about any financial product(s) or constitute tax advice. If you require financial or tax advice you should consult a licensed financial or tax adviser.
©Pepper Money Limited ABN 55 094 317 665; AFSL 286655; Australian Credit Licence 286655 (“Pepper”). All rights reserved. Pepper is the servicer of home loans provided by Pepper Finance Corporation Limited ABN 51 094 317 647. Pepper Asset Finance Pty Limited ACN 165 183 317 Australian Credit Licence 458899 is the credit provider for asset finance loans.