Life is not always fair and “stuff” happens that can lead to someone listing a default with Baycorp or Veda which affects the ability to get a mortgage with a default.
Many banks will say “NO” if you have any defaults, no matter of the amount the default is for, if it has since been paid and they really don’t care what the reason was. If the computer says “NO” then they will decline your application.
But … having a default shouldn’t mean you cannot get a mortgage.
Get A Mortgage With A Default
As mortgage brokers we see these situations all the time and it is our job to understand your situation at the time of having the issues that lead to the default and then finding the right lender to approve your mortgage application.
Depending on the reason for the default we might be able to get the loan approved as a standard home loan or it may be a specialist or non-standard home loan which may be a bank or non-bank loan.
Some people refer to these as bad credit home loans and they tend to be a little more expensive than the standard home loans, but our mortgage advisers will ensure that you get the best from your home loan and that includes getting the lowest interest rates possible.
Speak To A Mortgage Adviser
It is always best to speak to a mortgage adviser before you get started.
At North West Mortgages our advisers are experienced and can generally help you get a mortgage with a default in place.
