Bad Credit Home Loans

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Interest rates

Competitive - we negotiate on your behalf!

Loan term

1 to 30 years


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Is bad credit making it hard for you to get a home loan? Has your bank declined your mortgage application? At Max Mortgages, we believe that every Kiwi deserves to live their best financial life, and we’re here to exhaust every possible avenue to help you get there. Read on to learn more!



Can I get a home loan with bad credit?


In today’s market, getting a mortgage can be challenging if you don’t have a solid credit history. Generally, lenders use your credit score to help evaluate your creditworthiness. If you have a few black marks on your credit report, they might think that you’re not such a good bet, and therefore are less inclined to approve your home loan application.


However, having an impaired credit history doesn’t necessarily mean the end of the road when it comes to borrowing money. At Max Mortgages, we understand that life has its ups and downs, and this can affect your credit history. Having bad credit doesn’t mean you are a bad or untrustworthy person. Many Kiwis fall into bad credit simply because they have gone through an unfortunate life event like a bad spell in a relationship, an unexpected unemployment, a business failure, or a critical illness in the family.


If you have a below average credit score, you might still be able to obtain a home loan with help from us. As experienced and licensed Mortgage Advisers, we specialise in advising on Bad Credit Home Loans. In fact, we’ve helped many customers secure mortgages who have several blemishes on their credit history, such as a poor repayment history, serious credit infringements and court judgements.



What is a Bad Credit Home Loan? 


A Bad Credit Home Loan is a mortgage product tailored to borrowers with credit issues who want to purchase a house or keep their existing property. This type of home loan provides funds to people who may otherwise not qualify for a mortgage.





Borrowers with an adverse credit history might have to accept slightly higher (yet still competitive) interest rates due to the increased risk that lenders take on. However, many Kiwis find that the benefits of being able to get a mortgage sooner outweigh the additional costs. After all, paying down a mortgage is a great form of saving, as you are building your home equity to increase your wealth instead of throwing money away on rent. In addition, a Bad Credit Home Loan could be a life saver if you are falling behind on your mortgage payments and if feels that the only way out is to sell your house – make sure you talk to us as soon as you realise you can’t pay, and we will work the hardest to help refinance your mortgage to better fit your needs. You might also be able to improve your credit profile to build a strong financial position at the same time as paying a Bad Credit Home Loan.





Helping Kiwis secure mortgages is not all we do – we also help our customers make sure their home loans are always competitive. Even if you have to pay slightly higher interest rates today for a Bad Credit Home Loan, you probably won’t be on those same rates forever. At Max Mortgages, we aim to build a lifelong relationship with our customers, and that means working with you to help rebuild your credit rating. Our aim is to ensure that as you rebuild your credit rating, that you are continually on the best mortgage option. We do this by staying with you during your mortgage journey and negotiating and refinancing your mortgage into a better deal with lower rates and more favourable terms whenever we can.  Because we are accredited with an extensive number of mortgage lenders, including all the main banks, it provides us with a lot of options to ensure our customers are always on the most competitive mortgage deal.



How do I get a Bad Credit Home Loan?


If you are struggling to get a mortgage because of your credit history, don’t give up! There are still a number of options available to you.





When it comes to getting a mortgage, you can choose to apply with either a bank or a non-bank lender. If you don’t meet main banks’ lending standards, a non-bank solution may just be the answer you’re looking for. In contrast, non-bank lenders are regulated by fewer government bodies, which gives them more flexibility regarding lending criteria and home loan products. Instead of rejecting your application as soon as they see your credit history, they’ll take the time to understand what happened and consider each application on its merits when assessing your situation.


Each lender has its own rules and eligibility criteria. The key is knowing which lenders to speak to, that will give you a second chance. Here at Max Mortgages, we work closely with all main banks and a broad selection of non-bank lenders who deal specifically in lending to borrowers with credit issues. Along with our in-depth understanding of lenders’ criteria, we make it easy to match you up with the most suitable lender that will potentially consider you for approval, lowering your risk of being declined and therefore adversely affecting your credit report.





At Max Mortgages, not only do we align you with the right lender, we also make sure we present the deal in the best possible way. With years of experience, we know exactly how to emphasise the positive aspects of your application and demonstrate to lenders that you deserve a second chance!


What’s more, we can also provide expert advice on how to become a good financial citizen in the eyes of lenders. If you are overloaded with debts and can’t get a mortgage anywhere, our personal lending team Max Loans might be able to assist with a debt consolidation loan to pay off your high-interest debts, so you can put the money you were using on repayments into savings and start afresh. After you’ve demonstrated good financial behaviour for a certain period, lenders may re-consider your position.



Contact a Mortgage Adviser today


Securing a home loan can be a stressful process, especially if you have an impaired credit history. However, you don’t have to do it alone. Talk to Max Mortgages to find out more about Bad Credit Home Loans, including the risks and disadvantages associated with each potential option and how we can help find the best and fairest home loans for you and rebuild your credit rating!