Cheap Home Loans - bad credit loans
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Bad Credit Loans
Australians with some history of bad credit seem to be totally confused about
their ability to borrow.
There are numerous sites on the internet talking about bad credit personal
loans – however when you do some investigation it comes down to one simple
test - available security.
Unsecured personal loans are pretty much out of the question for an applicant
with either paid or unpaid defaults in their credit report. Some short-term
lenders online offer loans up to $3,000 to applicants with bad credit –
however these work out to be far more expensive than a regular personal loan
with annualized interest rate being around 40% - 60% p.a. plus fees.
If the applicant has some history of bad credit but no assets, and is looking
for assistance with debts, a debt agreement may be the best available option.
While a debt agreement is reflected on the applicants credit history, it is a
very good option for clearing unaffordable unsecured debts.
Secured Personal Loans are available to applicants with bad credit but with
equity in real estate assets, as is Mortgage Refinance.
Honey Home Loans are able to offer Bad Credit Mortgage Refinance to 80% of the
value of the applicant’s home at rates under the bank standard variable. If
you are struggling with outstanding debts, perhaps you are behind in your loan
repayments, have mortgage arrears, car is about to be repossessed – if you
have equity in your home, we should be able to assist.
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