We have loans for varying credit impairment situations including discharged bankrupts from day 1 to 95% LVR, paid and unpaid defaults listed more than two years ago ignored, defaults under $2,000 ignored (paid or unpaid), defaults paid more than one year ignored and unlimited arrears considered.
And what's more, we offer loans to 457 Visa holders to 95% LVR, for vacant land to 90% (non-build), and tax debts (including ATO arrangements).
A family with three young children faced financial crisis after the sole income earner injured himself at work and was off for a lengthy period. As a result, they racked up over $100k of credit card debt across 15 different facilities and soon got behind on repayments. Although the family had plenty of equity in their home, the sheer number of debts and arrears meant they had limited options with numerous lenders turning them away.
An experienced broker introduced them to Liberty who approved a loan to refinance and consolidate all their debts into one manageable repayment, saving them a staggering $3,000 in interest each month.
Regardless of the circumstances or the enormity of the challenge, it always pays to call Liberty first.
A young professional with a healthy deposit and clean credit was looking to purchase his first investment property. Numerous lenders declined his application on the basis that he was self-employed for less than 6 months and was unable to provide 2 years business financials as proof of income.
He eventually approached a broker who knew to quickly contact Liberty, knowing they offer great options for short term self-employed applicants. Liberty reviewed his recent bank statements together with his previous PAYG Group Certificate to confirm his current self-employed income and prior PAYG earnings. Although his business was new, Liberty approved his application given his previous industry experience and that he was able to sufficiently service the loan.This is just another example of how Liberty thinks ‘outside the box’ to create solutions to help customers.
A broker was seeking a lending solution for a client who wanted to purchase an owner-occupied property after his divorce. Prior to the divorce, he owned and operated a childcare business with his ex-partner. However, as part of the divorce settlement, his partner took over this business and the borrower returned to his previous trade as a glazier. Being self-employed and only trading since January 2015, his ABN was only five months old at the time of application.
Having been in business for less than six months, the borrower found it impossible to secure finance, which would allow him to move on with his life post-divorce, through traditional lenders. To make matters worse, the borrower also had some minor defaults on his credit file as a result of the divorce proceedings.