Home loans for people with bad credit is very difficult to get when a poor credit history exists.
A lot of South Africans end up with bad debt due to circumstances out of their control. There is very little you can do if you lose your job and cannot afford to pay off your debt.
However, most people take out too many loans and credit card debt and when interest rates go up they struggle to keep up with debt payments which ultimately results in a bad credit rating.
Bad credit home loans are designed for people with a bad credit record. Bad credit home loans can be used to refinance your current home loan or to consolidate debt.
People apply for bad credit home loans everyday throughout South Africa. An increasing number of lenders are prepared to adjust their risk portfolios in order to try and help individuals who does not have a great credit record.
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* information correct as per time of posting