Interest rates are at an all time low, so now is the perfect time to refinance. However, if you have bad credit, refinancing might seem like impossibility. Positive Solutions Finance takes away the ‘harsh reality’ for people living with a bad credit history and delivers a variety of positive debt solutions.
We have a number of affiliated lenders on board who specifically offer bad credit refinancing loans. We walk you through the process, handle all the paperwork and help you find a refinance loan to get you back on track.
Why Refinance with Bad Credit?
When you obtain a refinancing loan, you pay your old loan off and take out a new loan. Refinancing is at an all time high in Australia. You might want to get a new loan to pay off debts, to pay for extra expenses or to change the term of the loan. Refinancing often leads to a better loan which offers decreased interest rates and attractive terms.
The only hitch is, many traditional banks and lenders will only approve refinanced loans for clients with a clean credit history. That’s where Revive Financial steps in.
Bad Credit Lenders
When you refinance a loan, you don’t need to go through the same lender. In fact when you are refinancing with bad credit, you probably need to source a lender with a different set of loan criteria. Bad credit lenders look at other things apart from your credit history to determine whether or not they approve your application.
This gives people refinancing with bad credit a much better chance for success. Revive Financial has a number of affiliated lenders who specialise in bad credit refinance.
The Process
Before you do anything, you should consider if refinancing with bad credit is the best option for you. Often, there are closing costs and fees involved in breaking your first loan agreement.
These include an appraisal and administration fees. The Case Managers at Revive Financial will sit with you and help you determine whether refinancing is the right solution for you.
The whole point of refinancing is to find the best option for your circumstance. We assist in this by calling on a number of our affiliated lenders and getting as many bad credit refinancing loan offers on the table as we can. You can then compare your options and settle on a loan you are happy with.
The Next Step
Refinancing with bad credit can help you lower your interest rates, and you can possibly lower your monthly payments. You might also choose to obtain a loan to cut some years off your mortgage. If you have an adjustable mortgage, it might be a good idea to change it to a fixed mortgage.
You give yourself endless possibilities through refinancing your loan and it is possible even with bad credit. Revive Financial can help you decide on a course of action, find a loan, complete the paperwork and get back on financial track. If you are interested in refinancing with bad credit, call us today.
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