Non-Conforming Loans

They are designed to be more flexible to suit a variety of applicants and situations. The loans are an alternative for borrowers who do not meet traditional lending criteria or do not wish to use mortgage insurers.

Some of the most common non-conforming scenarios include:

• Self-employed without financial records for at least two years.

• Irregular employment pattern - part-time, contract or seasonal.

• Inadequate or an irregular savings history.

• Adverse entries (black marks) on your credit file.

• Only recently became an Australian resident.

• 55 years or older.

No deposit loans are generally fully featured products offering redraw, mortgage offset and the ability to have a fixed or variable rate, or a combination of both.