Non conforming loans
Help in special circumstances
Had a setback ? An illness, or a divorce?
Non-conforming lenders may be the answer. Your situation will
be assessed on its merits and your ability to "get back
on your feet".
Non-conforming loans are typically offered by specialist
lenders, who focus on lending to supposedly ‘riskier’
borrowers who are often refused credit by a bank. Most specialist
lenders do not use mortgage insurance, and many will take
self-employed borrowers with some adverse credit histories,
to a higher loan balance, and often a higher LVR than lo-doc
lenders. Specialist lenders will often allow a large number
of unsecured debts to be consolidated into the new loan, and
allow larger amounts of equity to be released to the borrower
to fund investments, working capital requirements etc.
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