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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.

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