Frequently yes. A default does not remove you from the market, though it affects which lenders will look at your file, the rate offered and the deposit expected.

What matters is the detail. A small telco or utility default from several years ago is treated very differently to a recent unpaid default on a substantial credit facility. Age, amount, type and whether it has been paid all count.

Specialist lenders price for the risk rather than declining outright, and many will move you to mainstream pricing after a period of clean repayment history, which is often the real plan rather than a permanent arrangement.

Get a copy of your credit file before applying so there are no surprises. See our page on non-conforming loans in Logan, or call 1800 774 756 for a confidential conversation.

Bankruptcy typically appears on your credit file for a set period after discharge, and most lenders want to see you discharged before considering an application. Some specialist lenders will look at a file from discharge, others want a period of clean conduct first.

A Part 9 debt agreement works similarly. Completion and the passage of time both improve your position, and lenders differ considerably on how long they want to see.

Expect a larger deposit, usually 20% or more, and pricing above standard rates initially. That is the entry point rather than the permanent position, and refinancing to mainstream pricing after a couple of clean years is a realistic goal.

Applying to a mainstream lender first and collecting a decline makes everything harder afterwards. We assess the file before it goes anywhere.

Not on its own, and this is the part borrowers most often get wrong. Each application records an enquiry, and a sequence of enquiries reads as distress to the next lender, turning a workable file into an unworkable one.

Under comprehensive credit reporting, lenders also see your repayment history month by month across accounts, so recent conduct carries real weight. A clean twelve months does more for your position than almost anything else you can do.

Practical steps that help: pay everything on time, reduce or close unused credit card limits, and avoid buy-now-pay-later accounts, which lenders now read closely in transaction data.

If the answer is to wait six months and apply once, properly, we will say so rather than lodging something that is likely to be declined. Call 1800 774 756.

Usually 20% or more, though it varies with the severity and age of the credit event. A minor, older, paid default might be workable at 10% to 15% with some lenders, while a recent or unpaid event pushes the requirement higher.

Lenders Mortgage Insurance is generally not available on specialist lending, so the deposit does more work than it would on a standard loan.

Genuine savings matter too. Lenders want to see the deposit accumulated over time rather than appearing suddenly, and a gift will need documenting.

Logan entry prices in the established suburbs mean a 20% deposit is a more achievable number here than in most of South East Queensland, which is part of why this route works locally. Read our guide to the most affordable suburbs in Logan.