Home Loans for Past Credit Issues in Perth

A default from a tough year, a missed phone bill, a business that didn't work out, a separation. Credit problems happen to good people, and a mark on your file doesn't have to end your plans to buy or refinance.

When the banks say no, specialist lenders look at the story behind the listing: what happened, how long ago, and what you've done since. Launch Finance knows which lenders will consider your situation, and we'll tell you honestly where you stand before any application touches your credit file.

What specialist lenders consider

• The type and size of the listing. A small paid default is treated very differently to a large unpaid one
• Time since the event. 12 to 24 months of clean repayments carries real weight
• Your deposit. Most specialist lenders want at least 10% to 20% of the purchase price
• Your income and stability now, not a credit score alone

How much can I borrow with a default on my credit file?

Borrowing capacity is calculated the same way as any home loan. What changes is the maximum LVR and the rate. Specialist lenders often cap lending at 70% to 85% of the property's value, depending on the listing and how recent it is, so a larger deposit is needed. Rates are higher than mainstream loans while the listing is fresh.

Am I stuck on a higher rate forever?

No. A specialist loan is a stepping stone. Once the issue is resolved and you've built a clean repayment history, typically around two years, we look to refinance you to a mainstream lender at a standard rate. We set that plan at the start, so the first loan is structured with the second one in mind.

What happens next

A confidential 15-minute call, with no judgement. We review your credit file with you, identify the lenders likely to say yes, and only lodge an application when we're confident it stacks up.

Call 08 9367 4222 for a free, no-obligation chat. Or request a callback at a time that works for you.