Bad credit doesn’t mean ‘No’ Loan

If you have bad credit, Savvy can help you get home loan approval

Sick of No? Savvy says Yes

If you’ve been rejected for a home loan – or fear rejection due to a poor credit history – you aren’t alone. Over 600,000 Australians carry a “high to extreme risk” of credit default, according to credit rating agency Veda.

The industry refers to bad credit home loans as non-conforming loans. They are sometimes called “sub-prime” loans, although not all bad credit home loans are sub-prime products.

To offset the risk lenders take, even if your bad credit past is behind you, you may have to come up with 20% deposit. This is also known as a 80% Loan-to-Value ratio. (LVR.) This is because lenders assess risk based on your credit report, which might take months or years to clear up.

Using our network of over 25 lenders, our consultants work hard to help you be approved for a home loan so you can get your finances back on track.

Just because you have bad credit doesn’t mean you miss out on the little things. You’ll get a dedicated home loan consultant that helps you with choosing a home loan that’s right for you and your situation. They work hard to get the fairest deal your credit history will allow. Over time, you may be eligible for refinancing at a lower, “prime” mortgage rate.Everyone deserves a second chance, and you get your shot at a dream home with Savvy.

We guide you through the process

Savvy understands that people with less than ideal credit need to provide more documentation and financial statements to achieve home loan approval. Savvy takes you through each step of finding an ideal bad credit home loan for you from start to finish. Lenders and banks look at your credit report to figure out if you’re a high risk. They make their decision largely based on what the report says. Savvy digs deeper. Using your documents and other information, we demonstrate to lenders and banks that you deserve a second chance. In fact, 9 out of 10 applications with Savvy gain approval. We also find our bad credit customers both variable or fixed loans with offset accounts, redraw facilities and other features.

The financial professionals at Savvy work hard to find the best and fairest loans for all our customers who’ve struggled with a poor financial history in the past. We believe everyone deserves a second chance. Unfortunately, you may have to contend with higher fees and interest rates due to the added on-paper risk that lenders and banks must take on.

Before you continue, you may have to come up with 20% deposit. This is also known as an 80% Loan-to-Value ratio. (LVR.) Other provisions may include you taking out Lender’s Mortgage Insurance. Confused? Don’t be – Savvy’s consultants explain everything to you in simple terms.

Compare bad credit home loan interest rates

Thinking of buying your dream home? Savvy offers a complete range of home loan options to suit all needs.
Compare and save with Savvy. Savvy has access to all major banks and lenders in the country. We hold accreditation with all the major lenders in the country and have experienced consultants to tackle any requirement.

LenderProduct NameAdvertised RateComparison RateMonthly Repayment
SavvyVariable Rate Home Loan5.14%
ANZOnline Secured Bike Loan7.85%
CUAFixed Rate Bike Loan7.99%
CBASecured Bike Loan8.49%
NABVariable Rate Personal Loan14.19%

* The interest rate of 5.14% p.a. with a comparison rate of 5.52% p.a. is based on a loan amount of $150,000 and a term of 25 years. The comparison rate, monthly repayment and total cost applies only to the example given and may not include all fees and charges. Costs such as broker fees, redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. Different terms, fees or other loan amounts may result in a different comparison rate. Establishment fees and monthly fees apply only to consumer loans. Commercial use loans may attract different fees.

See how can we help you with your bad credit home loan

Savvy is a leader in helping people with bad credit get home loans

Get approved
If banks and lenders say no, Savvy says yes.
Faster approvals
We use the latest in technology so we can process your home loan application faster.
Dedicated help
Our consultants are with you every step of the way to give you personalised service.
Freedom of choice
We’re partnered with over 25 lenders because we want all customers to have freedom of choice.
We're competitive
There’s no one loan fits all bad credit customers. We work hard to get competitive sub-prime rates.
Honest assessment
We don’t push loans on those who aren’t ready. We’re transparent about your prospects in every consultation.