Non Bank solutions with bad credit home loans in NZ
Challenges of Obtaining Home Loans with Bad Credit
Do you want to know more about getting home loans with bad credit? People with bad credit may find home loan applications difficult as their credit report may show the impact of a business failing, unexpected unemployment, Covid, a separation, reduced hours, a critical illness in the family or sudden hardship. Seeking a mortgage broker who can give expert advice and understanding will help towards gaining a bad credit home loan in NZ.
Expert Guidance for Bad Credit Home Loans in NZ
Our team has helped so many home buyers apply for a home loan who have had financial hiccups resulting in a poor credit rating, poor repayment history or bankruptcy. These may be historic or one-off incidents that have affected standard loan applications through banks. By being open and honest about your financial situation, we can work with you to find solutions. This may mean that a Non Bank mortgage could be arranged to repay or refinance any other outstanding debts, including those high interest rate credit cards, so you can start afresh. Refinancing and consolidating debts is a great way to put all your bad credit problems in one basket, so you can then tangibly focus on paying them off as fast as possible.
The good news is that accessing your KiwiSaver funds, as a deposit, does not require a good credit history! Additionally selling assets such as a car or boat can also help you work towards buying your first home.
Non Bank Lenders: A Solution for 10% Deposits
If you have a 10% deposit, there are now options for bad credit home loans with Non Bank lenders. We are specialists in Non Bank home loans, mortgages, and finance, with years of experience. We have applied for mortgages for our clients who have a poor credit history. If you would like more information or want to compare non-bank options, contact one of our friendly team members today.
The team at Non Bank has helped so many people buy homes with a bad credit score. Helping them purchase the home of their dreams instead of waiting years for a credit issue to go away.
Are you ready to get started on your home loan application? Contact us now
For further information on bad credit home loans, please see below.
Why choose Non Bank as your lender?
The right advice for you
There is so much information out there when you’re looking for a home loan. It gets confusing, and things are even more blurry if you’re new to purchasing property. That’s where you need reliable, honest advice every time. Here at Non Bank, our team of expert financial advisors take the time to listen to your circumstances and needs. You’re not just another number with us, and we’re committed to providing clear, easy-to-understand advice.
Partnering with Non Bank isn’t just about getting a home loan. It’s about getting your finances back in order and taking control again. We provide a range of financial services, including business loans, bad credit home loans, debt consolidation and much more. We’re here to support you, and we cast our net far and wide to find the very best financial products and services for your unique needs.
Personalised Home Loan services
Unlike many banks and lenders, we take a very tailored approach to our services. Rather than refusing to help because you’ve got adverse credit, our team takes the time to understand you and your situation. The reality is that many New Zealanders suffer from bad credit, and it’s not always through any significant fault of their own. Life happens, and we understand that at Non Bank.
Our links with Non Bank lenders allow us to explore a wider range of options for you. That’s why we take such a personalised approach. Every person and every family is different, and we want to provide the services you really need. So, don’t be discouraged just because a few lenders have knocked you back due to poor credit. Our team is here to help, and we’ll leave no stone unturned in finding a solution.
Alternative funding sources: Kiwisaver
One of the biggest problems potential homebuyers face when trying to secure a home loan is saving for the deposit. In most cases, banks and lenders require a 20% deposit. This means you must save 20% of the home’s value before purchasing. With the cost of living pressures hitting almost everybody, this is never easy–especially when considering rising house prices.
Fortunately, there are other alternatives. If you’ve held a KiwiSaver account for over 3 years and meet other eligibility requirements, you can withdraw these funds for your first home. As long as you leave $1,000 in the KiwiSaver, you can take as much as you need for a first home deposit.
The bottom line: If you don’t currently have your 20% deposit saved, don’t despair because there are options.
Is a bad credit history stopping you from getting a home loan? With help from the friendly Non Bank team, you can retake control of your finances and find a home loan that suits your needs.