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Bad Credit Home Loans
Bad Credit Home Loans: what it costs, how it works, and who it is not for. Every figure carries the source it came from and the date it was read.
Can you get a home loan with bad credit?
MACQUARIE - v14.0, section 2D. UNACCEPTABLE OUTRIGHT: bankrupts, judgements, court writs, and OUTSTANDING defaults whether financial or non-financial. ADVERSE, MEANING NEGOTIABLE: prior defaults greater than $500 'can only be considered ON AN EXCEPTION BASIS - refer to your BDM', and any adverse fin Money Brain publishes the document and the date behind every line on this page, and states plainly where a position has not been read.
How current is this page?
Every figure on this page carries the source it came from and the date it was read. Where a lender-by-lender position has not been read at source, the page says so rather than repeating something from memory. Lender policy changes quietly and often.
What decides your answer
Can you get a home loan with bad credit?
MACQUARIE - v14.0, section 2D. UNACCEPTABLE OUTRIGHT: bankrupts, judgements, court writs, and OUTSTANDING defaults whether financial or non-financial. ADVERSE, MEANING NEGOTIABLE: prior defaults greater than $500 'can only be considered ON AN EXCEPTION BASIS - refer to your BDM', and any adverse finding must be supported by the client's own explanation. PAID NON-FINANCIAL DEFAULTS OF $500 OR LESS can be considered wi
What is actually on your file
FIRSTMAC - section 9.6. 'Firstmac considers borrowers with ANY history of financial defaults, non-financial defaults that do not meet the criteria below, court writs, petitions, and bankruptcies, to be HIGH RISK AND THE APPLICATION WILL BE DECLINED.' Not case-by-case - declined. The single exception is a non-financial default meeting ALL FOUR of: listed by a TELCO OR UTILITY ONLY and never a financial institution; am
How to see your own file, free
FIRSTMAC - THE FRAUD BAN TRAP, SECTION 9.7, AND IT IS A GENUINE PIECE OF SERVICE NOBODY WRITES DOWN: a person may ask Equifax to place a BAN PERIOD on their file over fraud concerns. While that ban is active Equifax returns no credit report at all, and 'a loan assessment cannot be completed until the ban period ends'. Someone who did the responsible thing after having their identity stolen cannot be assessed - and wi
What decides your answer
When your listing drops off
MACQUARIE - v14.0, section 2D. UNACCEPTABLE OUTRIGHT: bankrupts, judgements, court writs, and OUTSTANDING defaults whether financial or non-financial. ADVERSE, MEANING NEGOTIABLE: prior defaults greater than $500 'can only be considered ON AN EXCEPTION BASIS - refer to your BDM', and any adverse finding must be supported by the client's own explanation. PAID NON-FINANCIAL DEFAULTS OF $500 OR LESS can be considered wi
When waiting beats borrowing now
FIRSTMAC - section 9.6. 'Firstmac considers borrowers with ANY history of financial defaults, non-financial defaults that do not meet the criteria below, court writs, petitions, and bankruptcies, to be HIGH RISK AND THE APPLICATION WILL BE DECLINED.' Not case-by-case - declined. The single exception is a non-financial default meeting ALL FOUR of: listed by a TELCO OR UTILITY ONLY and never a financial institution; am
What you can fix, and what you cannot
FIRSTMAC - THE FRAUD BAN TRAP, SECTION 9.7, AND IT IS A GENUINE PIECE OF SERVICE NOBODY WRITES DOWN: a person may ask Equifax to place a BAN PERIOD on their file over fraud concerns. While that ban is active Equifax returns no credit report at all, and 'a loan assessment cannot be completed until the ban period ends'. Someone who did the responsible thing after having their identity stolen cannot be assessed - and wi
What decides your answer
What a specialist loan costs against a mainstream one
MACQUARIE - v14.0, section 2D. UNACCEPTABLE OUTRIGHT: bankrupts, judgements, court writs, and OUTSTANDING defaults whether financial or non-financial. ADVERSE, MEANING NEGOTIABLE: prior defaults greater than $500 'can only be considered ON AN EXCEPTION BASIS - refer to your BDM', and any adverse finding must be supported by the client's own explanation. PAID NON-FINANCIAL DEFAULTS OF $500 OR LESS can be considered wi
How to get out of one
FIRSTMAC - section 9.6. 'Firstmac considers borrowers with ANY history of financial defaults, non-financial defaults that do not meet the criteria below, court writs, petitions, and bankruptcies, to be HIGH RISK AND THE APPLICATION WILL BE DECLINED.' Not case-by-case - declined. The single exception is a non-financial default meeting ALL FOUR of: listed by a TELCO OR UTILITY ONLY and never a financial institution; am
Which lenders accept what
FIRSTMAC - THE FRAUD BAN TRAP, SECTION 9.7, AND IT IS A GENUINE PIECE OF SERVICE NOBODY WRITES DOWN: a person may ask Equifax to place a BAN PERIOD on their file over fraud concerns. While that ban is active Equifax returns no credit report at all, and 'a loan assessment cannot be completed until the ban period ends'. Someone who did the responsible thing after having their identity stolen cannot be assessed - and wi
What decides your answer
Deposit and LVR limits with impaired credit
MACQUARIE - v14.0, section 2D. UNACCEPTABLE OUTRIGHT: bankrupts, judgements, court writs, and OUTSTANDING defaults whether financial or non-financial. ADVERSE, MEANING NEGOTIABLE: prior defaults greater than $500 'can only be considered ON AN EXCEPTION BASIS - refer to your BDM', and any adverse finding must be supported by the client's own explanation. PAID NON-FINANCIAL DEFAULTS OF $500 OR LESS can be considered wi
Refinancing with bad credit
FIRSTMAC - section 9.6. 'Firstmac considers borrowers with ANY history of financial defaults, non-financial defaults that do not meet the criteria below, court writs, petitions, and bankruptcies, to be HIGH RISK AND THE APPLICATION WILL BE DECLINED.' Not case-by-case - declined. The single exception is a non-financial default meeting ALL FOUR of: listed by a TELCO OR UTILITY ONLY and never a financial institution; am
After bankruptcy or a part 9
FIRSTMAC - THE FRAUD BAN TRAP, SECTION 9.7, AND IT IS A GENUINE PIECE OF SERVICE NOBODY WRITES DOWN: a person may ask Equifax to place a BAN PERIOD on their file over fraud concerns. While that ban is active Equifax returns no credit report at all, and 'a loan assessment cannot be completed until the ban period ends'. Someone who did the responsible thing after having their identity stolen cannot be assessed - and wi
Questions
FIRSTMAC - THE FRAUD BAN TRAP, SECTION 9.7, AND IT IS A GENUINE PIECE OF SERVICE NOBODY WRITES DOWN: a person may ask Equifax to place a BAN PERIOD on their file over fraud concerns. While that ban is active Equifax returns no credit report at all, and 'a loan assessment cannot be completed until the ban period ends'. Someone who did the responsible thing after having their identity stolen cannot
Sources and check dates
Lender lines on this page come from data the panel documents carry, read on 2026-08-09. Anything not read at source is named as unpublished.
Who wrote this page
Darren Parker, Credit Representative 501592, authorised under Australian Credit Licence 389328. Every figure here was read at source and dated. If a lender's position has changed since the date shown, tell him and it is corrected.
See where you stand before you decide anything
Updated 13 September 2026