Credit scoring is a statistic based assessment model adopted by many mainstream lenders.
Since the Global Financial Crisis, prime lenders and their mortgage insurers have continued to tighten their credit policies. This can affect where you stand as a borrower. Where you may have once been considered a prime loan candidate, you may now no longer be able to meet the requirements.
The truth is that credit scoring models look at many variables. This can make it difficult to understand why your loan application was declined.
Here at Pepper Money, we are flexible in our approach. We don't just look at your credit score, instead we look at your whole situation to get a full picture of your financial situation today.
If you'd like to learn a little more about our lending criteria, give one of our friendly Lending Specialists a call on 13 73 77, Monday to Friday between 8:00am and 7:00pm (AEST/AEDT).
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.