Market Advices


Non-Conforming Loans

Non-Conforming Loans

Non-Conforming loans are designed for borrowers who have credit impairments, or who are having problems getting a loan through mainstream lenders.

Non-conforming loans are sometimes suitable to people who don’t meet mainstream lending criteria, including:

  • people with a bad credit history,
  • people with a history of late repayments, loan default or possibly even formerly bankrupt;
  • small business people whose past tax records may not accurately reflect their current capacity to service a loan
  • new migrants with no borrowing record;
  • and seasonal, casual or self-employed workers.

While you will typically pay a higher interest rate for non conforming loans, some non conforming lenders offer interest rate reductions after a period of time if you have a good repayment history. This clean record will also increase your chances of refinancing your loan with one of the mainstream lenders.

At WeLend we can assist you in choosing the most suitable loan option as well as the most suitable loan structure. In some instances this may involve a non-conforming loan.

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