Specialist/Credit Impaired Home Loans

What is a Specialist/Credit Impaired Home Loan

Specialist and credit impaired lending is an option for those clients who don’t meet the traditional banks or mortgage insurers lending criteria.  This can be for many different reasons and vary greatly from being in business for short time, to being credit impaired in the past or current.

Specialist lending allows people to get in the property market who would usually have to wait a long period of time otherwise.

Advantages of a Specialist/Credit Impaired Home Loan

The loan is usually approved if the borrower meets the following criteria:

  • Loans are manually assessed, and each loan is looked on its merits, no blanket rule to cover all.
  • They don’t credit score.

Disadvantages of a Specialist/Credit Impaired Home Loan

  • Lenders usually require more detailed information;
  • Rates and entry fees are higher;

Contact your qualified lending experts today, to guide you through your lending journey.