It's Complicated

Life can sometimes throw up challenges that cause people to struggle financially. But this doesn't mean there aren't home loan options if your past history is less than perfect.

RESIMAC Direct have home loans that take your situation into consideration and can help you move on with your life.

Do any of these sound familiar?

lost job quote
I lost my job

I lost my job and it took me a while to find a new one. The bills built up and I got behind on my repayments. Now I have a good income, I just need a lender to help me consolidate my debts so I can move on.

divorced quote

My divorce was messy. With all the arguing and negotiating I lost focus on making payments. It wasn't until later that I discovered that it had impacted my credit report. Now I just want to buy my own home again.

business quote
My business didn't work out

After my own business failed I was left with a large number of bills that I struggled to pay out. I am now employed full time but defaults from back then are now stopping me getting a home loan.

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Credit card debt

I have so many credit cards and personal loans that I am not keeping up. If I could just consolidate them into my home loan I could reduce the high interest rates I am paying to focus on my repayments.

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I've had defaults

When I was young I didn't realise the impact defaults would have on my ability to borrow. I have now saved a deposit and just want to get into the property market.

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My partner was sick

My partner was sick for 6 months and couldn't work. She is better now and we just need some help to get our finances back on track.

Reasons why lenders decline home loans

  • Adverse credit like defaults, discharged bankruptcy and judgements

  • A large number of credit enquiries on your credit file

  • Unpaid bills like council rates or tax debts that need to be paid out

  • Mortgage arrears or behind on personal loans or credit cards

What do you do now?

  • Get a copy of your credit report so you know exactly what it contains

  • Speak to a Relationship Manager who has options that may suit your situation

  • Don’t submit multiple applications as this will only result in more credit enquiries

  • Be open and honest about what has happened and the issues you know are there

What lenders look for

  • Savings

    If you are wanting to purchase a property saving at least a 10%-20% deposit shows that you are serious and have turned things around.

  • Equity

    If you want to consolidate your smaller debts you will need to have equity in a property you own. This is when the value of the property is greater than what you owe.

  • Steady income

    Having a steady income by either being employed or self employed will show your ability to make repayments on a new home loan.

  • Keeping up with minimum repayments

    By meeting at least the minimum repayments on all your debts will show that you take responsibility and are doing your best to get ahead.

How we can help

Our experienced Relationship Managers understand lending for self employed borrowers. They can discuss your options at a convenient time and help find a home loan that suits you.

They can also assist with applying for formal pre approval and ensure the process is simple and straightforward.

Specialist Home Loan Options



A better alternative to the banks

From application to approval they all went well, without having to go to an office, all done by phone and email ....very efficient process....

Excellent service

I was referred to RESIMAC by a family friend and although initially reluctant as they aren't a banking institution as such, my fears were way allayed. Their service was exemplary, from start to finish, and I look forward to further loan transactions with them. I would highly recommend.

Great home loan experience

Great service and competitive rate. The team really looked after us and made sure our loan was approved without complication. Would recommend them to anyone applying for a home loan.

Talk to Us

Our team of experienced Relationship Managers are ready to help you.