Sometimes things just don't work out the way we planned. At Metro Loans we give people the opportunity for a fresh start.
Credit defaults or judgments
Bad credit causes problems when applying for loans. Having paid or unpaid credit defaults or judgments are very common occurrences and they happen for a variety of reasons. Metro Loans understand this and unlike the banks, we don't hold credit issues against you. In fact we can help people who consider their credit rating as terrible! Many people have said to us that they didn't think anyone could help - but we can. We can help turn your bad credit rating around
Current or past loan arrears
If you want to a refinance or consolidation loan with a bank your home loan must have been paid on time for at least the last six months. Sometimes payments are missed and the loan falls into arrears - that's life. Metro Loans won't penalise you for this and can help you regardless of the level of home loan arrears. We have helped many people in this situation and have prevented the banks from selling many of our client's homes. When the bank steps in and demands money for the loan arrears or sends default notices, things can become very stressful. Not only does Metro Loans refinance the home loan, they also talk to the lender on your behalf so you can get on with your life.
Numerous debts to consolidate
Banks generally limit the number of debts they can consolidate to three or four. And if any of those debts are in arrears, you can forget refinancing. We don't worry how many debts you have to consolidate. As long as we can reduce your fortnightly or monthly loan commitment and there is a benefit to you we will help. Some our clients have had over a dozen loans and debts to consolidate and we have been able to help. Our home loan debt consolidation loans can be arranged even if the loans are in arrears or credit cards are over their credit limits. Bad credit history This can happen for many reasons. Bad credit includes defaults, judgments, bankruptcy, late payments, loan arrears and credit cards over their limit. A bad credit rating is not a life sentence. We can help get your credit rating back on track by consolidating debts.
Employment Issues
When you become recently employed or change jobs, this is often a reason to celebrate. However if you are a bank this is a great time to ignore you! At Metro Loans we have seen countless examples of people who have been casual for less than 12 months, recently started a new job or changed employment and have been rejected by a bank for finance. We see this as an opportunity to help you - not to penalise you.
Unusual or Gifted Deposit
People are often frustrated when they want to buy a home and the bank wont help. Often the problem is that their deposit for the purchase has not been saved or comes from a family member or unusual source. This type of deposit does not cause Metro a problem. We have seen some unusual deposit sources including one gentleman who sold his snake collection to make up the deposit on his home. We have also seen many instances where the children buy the family home at a discount to the market value of the property. This is termed favourable purchase. We are specialists in assisting clients with favourable purchase. Talk to us about your home purchase today.
Centrelink Recipient
Just because you are on Centrelink why should you not qualify for a home loan? We can use most forms of Centrelink income to assess whether you can get a home loan.
Discharged Bankrupt
If you are a recently discharged bankrupt and looking for a home loan or mortgage consolidation loan then we can help. Bad credit issues like bankruptcy are generally not a problem for us. Recently separated
If you have recently separated from a partner, you would probably be thinking about owning your home in your own right. This often means paying out the other party. Sometimes in relationship breakdowns loans and credit cards fall behind as ownership of the debt can often become clouded. This can mean a negative impact on your credit rating. Talk to us about how we can help get the house into your name.
Product Features
General
No upfront application fees No mortgage insurance required Quick approvals Assist clients who do not fit the bank's criteria Voluntary repayments allowed Loan details
Up to 40 Year loan terms Principal and Interest or Interest Only available Weekly, Fortnightly or Monthly repayments [go to repayment calculator] Minimum Loan size $30,000
Security
Can lend you up to 95% of your house value* Mortgages over residential or rural residential properties (up to 20 Hectares)* Can use vacant land as additional security* *Certain criteria apply.