Corinne Cole
Home Loans, Tips

Home loans and bad credit ratings

Can a bad credit rating stop you from getting a home loan?

As experienced Melton Mortgage Brokers, we can tell you that the simple answer to this question is ‘yes’. Bad credit ratings do affect your ability to access home loan finance. The main concern of any lender when assessing your home loan application is that you’ll be able to make your repayments.

If you have a bad credit rating, it signals to a lender that you’re a higher risk of either not making your repayments on time, or of not making them at all.  Lenders in Australia are legally required to lend responsibly.

Mortgage Broker Melton Why use a mortgage broker_
Mortgage Brokers, Tips

Top 6 Reasons Why You Should Use the Services of a Mortgage Broker

If you’re in the market for a home loan or looking to refinance your existing home loan, you might have considered using a mortgage broker to help you through the home loan application process. A mortgage broker liaises with lenders to help their clients to get home loans. According to recent statistics from CoreLogic, mortgage brokers arrange 59.1 percent of all residential home loans in Australia.

Here are 6 reasons why you should use the services of a mortgage broker to arrange your home loan.

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