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HashChing is Australia’s first online marketplace allowing consumers to access great home loan deals without having to shop around. Completely FREE to consumers, HashChing connects you directly to verified mortgage brokers who can further negotiate a better rate from the lenders and save you time, hassle and money.

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LEZLI

1 year ago

Hi Sathishkumar, Yes. they do - please feel free to contact me via my profile page and I will help you. Have rates from 3.67% variable 80% LVR for owner occupied loans.

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Tamara

1 year ago

Hi Satish, there are specific lenders on the market that will work with you and your lack of credit history. There are definitely ways around this and it is best to get in contact with a broker to provide you the best "tips and tricks" of the trade. Please contact me if you would like any further information, otherwise good luck with it! Kind Regards, Tamara Ives

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Vivek

1 year ago

Hi Satish. Its a problem ( so I thought!!!) when I arrived in Australia. If you are a citizen or permanent resident banks will consider your application and decide on its strength. Not all lenders will assess your credit score/ history in your favour. So best to seek assistance of a mortgage broker. If you seek to discuss more, please feel free to contact me via my profile. Thanks

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Richard

1 year ago

Hi Sathiskumar, a lack of credit history shouldn't be an impediment to borrowing. Lenders will drill down into you financial position, income , savings and other financial commitments. Keep in mind the NSW State Governments First Home Owners Grant (FHOG) and First Home Owner Stamp Duty Concession will save you $32,490 if you purchase a brand new property for $600,000. Happy to discuss further. regards Richard

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Milan

1 year ago

Hi Sathiskumar, this is absolutely possible. Please feel free if you like some detailed explanation and a one on one question and answer to contact me via my personal profile. You just need to click on my profile photo and inquire via my profile and we can hash this out! Best regards, Milan

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Sathishkumar

1 year ago

thanks for all your quick responses. it gives me some idea now and I will take a help of a broker.. thanks again.

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Quang

1 year ago

Credit history is like a double edged sword. Too much and you get flagged as high risk. Too low and they say you're a credit virgin. Best bet is to find a broker to present a personal story of your situation and get a bank that treats you like a person and not a number.

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Eric

1 year ago

It’s not impossible to get a loan without a credit history, however, at the end of the day, whether or not you’ll end up being approved for the loan you’re after will depend almost entirely on your personal details and circumstances. Here are some things that will help prove to your lender of choice that you’re a "safe bet" for repaying the home loan: ~ Good job history with full-time, secure, regular income ~ High enough income to make the repayments on the loan you want with a decent surplus ~ No negative history with your debit card of dishonour fees, late payments on bills, or failed payments ~ Evidence of saving money each month If you can evidence all of those you'll have a better chance of approval. What should be pointed out is that it is possible some loan types and sizes may still be out of your reach if you don’t have any sort of credit history. This is what's considered a case by case type of question so it's hard to give a definite answer. Hope that still helps.

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Daxa

1 year ago

Hello Sathiskumar, Yes the land will still lend to you even though you have no credit history. I was in the same boat as you when I arrived into Australia. Just make sure you have a good deposit and Make sure you get a pre-approval first before you commit yourself. Let me know if I can be of assistance.

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Adrian

1 year ago

Hi Satishkumar, yes the banks will still lend to you even if you have not yet built up a credit history in Australia. The bank will look at your overall position not just your credit score, ie. your financial position, how much deposit you are able to contribute towards the purchase, your current employment history, income assets and liabilities. Hope this helps. Thanks

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