Non-Prime Home Loans — Your Credit History Doesn't Have to Define Your Future
Had credit problems, been declined by another lender, or simply don’t fit the standard bank lending box?
Talk to Mortgage House.
We’ll look at the bigger picture, help you understand what may be possible and explain the next step clearly.
Helping Australians with home lending since 1986 | Australian Credit Licence 393283
You may have more home loan options than you think
A credit problem does not necessarily mean the end of your home loan plans. Australians can experience financial difficulties for many reasons.
A relationship breakdown, a period without work, unexpected expenses, business disruption, a missed repayment, a default, a temporary reduction in income. Or simply circumstances that don’t fit neatly within another lender’s standard credit policy.
Mortgage House looks at your broader position. We want to understand where you are today, what happened and what you are trying to achieve. Lending criteria and responsible lending requirements apply, and approval can never be guaranteed. But a previous problem does not necessarily mean there is no pathway forward.
Which situation sounds like yours?
I was declined by another lender
A decline from one lender does not automatically mean every lender will reach the same conclusion.
My credit history isn't perfect
Talk to us about what happened and your circumstances today.
I've had a default or missed repayments
The nature, timing and circumstances of previous credit problems can form part of the overall assessment.
I want to refinance
We can explore whether refinancing may be available and appropriate.
I'm self-employed
Business owners and self-employed Australians do not always fit standard PAYG assessment models.
I'm not sure what I qualify for
You don’t have to work that out yourself.
What is a non-prime home loan?
A non-prime home loan is designed for borrowers whose circumstances may fall outside standard prime home-loan credit criteria. You may also see terms such as:
- Bad credit home loan
- Specialist home loan
- Credit-impaired home loan
- Adverse-credit mortgage
The label is not the important part. What matters is whether an available loan is appropriate and sustainable for your circumstances and helps you move toward your financial objectives.
Sometimes what you need most is peace of mind
Applying for a home loan after experiencing credit problems can be stressful. You may be wondering:
- Will anyone lend to me?
- Will I be rejected again?
- How much will it cost?
- Will I be stuck with a specialist loan forever?
- Can I eventually move to a better rate?
- Will someone actually listen to what happened?
Mortgage House believes those questions deserve clear answers. Our Lending Specialists can help you understand what information is needed, what options may be available and what your next logical step should be.
No unnecessary jargon. No pretending every application can be approved. Just a clearer understanding of where you stand.
Your circumstances deserve more than a credit score
Technology can make home lending faster and easier. But sometimes your circumstances need context. Mortgage House uses technology to support efficient data collection, validation and processing while appropriately authorised people remain accountable for lending decisions. That matters when your financial history needs an explanation.
A credit event is information. It isn’t your identity.
Why deal directly with Mortgage House?
When your circumstances aren’t straightforward, being able to communicate directly with the lender can matter.
Mortgage House Lending Specialists can understand your circumstances, explain what information is needed and help progress an application through the Mortgage House lending process.
If your loan settles, the relationship doesn’t disappear. Mortgage House Customer Care continues supporting customers with servicing, account access and eligible loan features.
From application to settlement and beyond, you’re dealing with Mortgage House.
Non-prime doesn't necessarily mean basic
Needing a specialist lending solution does not automatically mean giving up the convenience Australians expect from a modern home loan. Depending on the Mortgage House product for which you qualify, available features may include:
- Variable-rate options
- Fixed-rate options
- Eligible split structures
- Offset functionality
- Additional repayments
- Redraw on eligible variable products
- Visa debit access on eligible products
- Online account servicing
- Owner-occupied lending
- Investment lending
- Refinancing
- Eligible construction lending
- Debt consolidation where appropriate
Product availability, eligibility, fees, limits and conditions apply.
Make your available money work harder
An eligible 100% offset account can reduce the portion of your home- loan balance used to calculate interest while keeping your available money accessible. For example:
Home loan: $500,000
Eligible 100% offset balance: $25,000
Net balance used for interest calculation: $475,000
Subject to the applicable loan terms. The important advantage is that the money remains available rather than needing to be permanently paid into the mortgage.
That can give customers a powerful combination: reduce interest + maintain liquidity + retain access to money.
Easy access to eligible available funds
Where your Mortgage House loan product includes eligible Visa debit access, you can use the linked card to access applicable available money in your loan-product or offset account. That can make your offset useful for everyday cashflow rather than simply functioning as a savings account you rarely touch.
Eligibility, transaction limits, fees and product conditions apply.
Every day your money can be working
Interest and offset calculations depend on the applicable product terms. Where an eligible Mortgage House offset is linked to your home loan, funds held in the offset can reduce the balance used in calculating daily interest on the linked loan. That means where your available cash sits can matter.
Salary. Savings. Emergency buffers. Money waiting for bills. Funds set aside for future expenses. Holding eligible available funds in an offset for longer may increase the amount of time those funds are helping reduce the applicable interest calculation.
Fixed, variable or both?
Different structures solve different problems.
Fixed
Can provide greater repayment certainty for a defined period, subject to the applicable fixed-rate terms and restrictions.
Variable
Can provide greater flexibility and may support features such as offset and redraw where available.
Split
An eligible split structure may allow part of the loan to be fixed and another part variable. That can allow customers to balance: certainty with flexibility and cashflow management. Your Lending Specialist can explain the available structures, rates, features, restrictions and costs.
Today's non-prime loan doesn't necessarily have to be tomorrow's loan
This is one of the most important things to understand. A non-prime home loan can potentially be part of a pathway, rather than a permanent destination.
Your circumstances may change. You may establish a stronger repayment history. Your income may increase. Your liabilities may fall. Your equity may grow. Your credit profile may improve. Mortgage House can periodically review your position and determine whether another lending option may better suit your circumstances.
There is no guarantee that you will qualify for prime lending in the future. But where your position improves, we want the conversation to happen.
Your potential pathway
- TODAY: Your circumstances fall outside standard prime lending criteria.
- FIND AN APPROPRIATE SOLUTION: Mortgage House assesses whether an appropriate lending option is available.
- BUILD: Maintain repayments and strengthen your financial position.
- REVIEW: Complete a Mortgage House Home Loan Health Check.
- REASSESS: Review rate, equity, income, loan structure and available products.
- MOVE FORWARD: If eligible, consider whether a more competitive Mortgage House lending solution is available.
Already have a mortgage? Start with a Home Loan Health Check
You don’t have to know which home loan you need. You simply need to know whether your existing loan can be improved. The Mortgage House Home Loan Health Check can review areas such as:
- Your current interest rate
- Fixed, variable or split structure
- Repayment strategy
- Potential refinancing opportunities
- Potential interest savings
- Property position
- Changing financial circumstances
Mortgage House currently offers a complimentary Home Loan Health Check that can be completed with a dedicated Lending Manager. For someone currently in non-prime lending, the Health Check can become particularly important because it creates a natural opportunity to ask: Has my position improved enough for Mortgage House to offer me something better?
Helpful tools before you apply
You don’t need to guess the numbers. Use Mortgage House tools to explore. Calculator outputs are estimates only and are not credit approval.
What happens next?
1. Tell us your story
Start online or speak to a Lending Specialist.
2. We understand your position
We establish the information needed to assess what may be possible.
3. You provide supporting documents
Depending on your circumstances, this may include identification, income, expenses, liabilities, property information and relevant credit information.
4. We assess the application
Applicable responsible lending requirements, credit criteria and product eligibility apply.
5. If approved, we help progress the loan toward settlement
And Mortgage House remains available after settlement.
Your personal information deserves serious protection
Protecting customer information is one of Mortgage House’s highest priorities. Mortgage House uses controlled customer and servicing processes designed to protect personal and financial information.
Customers should use authorised Mortgage House channels when providing sensitive information and should never provide passwords or unnecessary personal information through unverified communications.
If you are ever unsure whether a communication is genuinely from Mortgage House, contact us through our published contact channels before providing information.
Today's priority may simply be getting back on solid ground
And that’s perfectly reasonable. The immediate objective might be: buying your home, keeping your home, refinancing, creating a more manageable structure or simply understanding what options you have.
But financial circumstances evolve. Over time, stronger repayments, increasing equity, reduced liabilities or improved income can create new possibilities.
When the time is right, those possibilities might include paying your mortgage down faster, refinancing, purchasing another property or exploring longer-term property and wealth strategies.
Mortgage House can help you understand those opportunities when you’re ready.
Frequently Asked Questions
Can I get a home loan with bad credit in Australia?
Possibly. Credit problems do not automatically prevent someone obtaining a home loan. Eligibility depends on the customer’s complete circumstances and applicable lending criteria.
Is a non-prime home loan the same as a bad-credit home loan?
“Bad credit home loan” is a commonly used search term. Non-prime or specialist lending is broader and may apply where someone’s circumstances fall outside standard prime lending criteria.
Can I get a mortgage after another lender declined me?
Potentially. Lenders have different products and credit policies. A decline from one institution does not automatically determine another lender’s decision.
Can I get a home loan if I've had a default?
Potentially. The type, amount, age and circumstances of a default may be relevant, together with your current financial position and the applicable lending criteria.
Can I refinance with bad credit?
Potentially. Mortgage House can assess whether an appropriate refinance option is available. Costs and benefits should be considered before refinancing.
Can I consolidate debt when refinancing?
Some Mortgage House lending products can support debt consolidation in appropriate circumstances. Eligibility and responsible lending requirements apply.
Can self-employed Australians qualify?
Potentially. Mortgage House provides lending options for a variety of borrower circumstances, including self-employed customers.
Can I access my offset with a Visa debit card?
Visa debit access is available on eligible Mortgage House loan products. Eligibility, fees, terms and conditions apply.
Can I choose between fixed and variable rates?
Eligible Mortgage House specialist products can support fixed or variable structures. The available structure depends on the product and circumstances.
Can I move from non-prime to prime later?
Potentially. If your circumstances improve, Mortgage House can reassess your position against products and lending criteria available at that time. Future eligibility cannot be guaranteed.
What is the Mortgage House Home Loan Health Check?
It is an opportunity to review your existing rate, loan structure, repayment strategy and potential refinancing options.
Will I get to speak to a real person?
Yes. Mortgage House provides access to Lending Specialists who can discuss your circumstances and explain the application process.
Does speaking with Mortgage House guarantee approval?
No. All applications remain subject to applicable lending criteria, responsible lending requirements, product eligibility and assessment.
Can a non-prime home loan have an offset account?
Eligible Mortgage House specialist products can provide offset functionality. Availability depends on the particular product and customer eligibility.
Your credit history is part of your story. It doesn't have to be the end of it.
If your circumstances aren’t straightforward, start with a conversation. Tell Mortgage House: where you’ve been, where you are now and where you want to go.
We’ll help you understand what may be possible and what your next step should be.
Mortgage House — helping Australians with home lending since 1986.
Australian Credit Licence 393283. Credit criteria, responsible lending requirements, fees, charges, terms and conditions apply. Product features and availability vary according to the applicable product and customer eligibility. This information is general in nature and does not constitute personal financial advice.
Non-Prime Home Loans
Comparison Rate Disclosure: The Comparison Rate for each home-loan product shown is based on a $150,000 loan over 25 years. Fees and charges may apply. Warning: The Comparison Rate is true only for the examples given and may not include all fees and charges. Different terms, fees or amounts could produce a different comparison rate.
