Can I get a loan with bad credit?
Credit score is just one of many criteria which lenders investigate at the time of assessment of a loan application. When applying for a loan with bad credit, it is helpful to check if you can qualify based on other criteria. Lenders may consider other factors such as your income, debts, and collateral when determining whether you qualify for a loan. Therefore, discussing your options with an experienced finance broker will enhance your chances of approval.
How much can I borrow with bad credit?
Under certain circumstances, you are able to borrow up to 90% of the property’s value; however, the greater the LVR, the higher the interest rate you’re likely to be offered.