We’ve put together 5 tips to support this process and put your mind at ease!
- Be honest and frank. It is preferable that your lender or mortgage broker finds out by you, not your credit information report if there are problems with your credit history.
- Mortgage brokers should also know to provide you with lender products which take into account your current financial situation.
- If there is a problem, why it happened and how to rectify
- A “no” to a credit application, or the provision of goods and services where payment is deferred, does not necessarily mean your credit is imperfect.
- Credit providers have their own funding criteria, so it is strongly advised to get further explanation about this
- If you believe that there are anomalies or errors on your credit score, you can challenge them
- You can also choose to go to a non-conforming lender. They consider applications from people with past credit problems.
- However, they still expect the borrower is able to support a home loan
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