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- In Bee Savvy - Getting the most out of your loan, Getting ahead - How to improve your finances
It can be hard to get a home loan after bankruptcy. If you have previously been through a divorce or another life changing event, this may have had a negative impact on your financial situation.
What can be done if I need a home loan after bankruptcy?
Its not entirely uncommon today, for people to have a life changing event, that can wreak havoc on their financial situation.
It takes careful planning and consideration to get a home loan after bankruptcy.
Will lenders view me differently?
Many lenders will frown upon applicants who have experienced a previous bankruptcy. However, some will be more open and interested in understanding the cause of your previous financial distress.
In general, you will be required to have a minimum of 20% for a deposit, and mortgage insured loans will be out of the question.
Generally, there are also further waiting periods that will apply for those wishing to apply for a home loan after bankruptcy.
There may also be limitations surrounding where you can buy, as non main stream properties may be viewed as too high risk.
Get help applying for a home loan after bankruptcy
At Bee Finance Savvy, we go over our clients income, recent circumstances, and any relevant information from your past that you disclose. Thus, we can help match you with a suitable lender, when we apply for a home loan on your behalf.
If you would like your income, and any relevant financial information assessed, our savvy broker Desiree is here to help. Based in the Sutherland Shire, Sydney, Desiree has helped many clients achieve their home buying goals.
If you’d like to hear from just some of our satisfied customers, take a look at our reviews on