Discharged Bankrupts (minimum 1 day)
What is a Discharged Bankrupt?
Once discharged from Bankruptcy you are no longer Bankrupt. You are not subject to the restrictions imposed by your Bankruptcy Trustee and are typically eligible to apply for finance again. The Bankruptcy however will continue to show on your Credit File for another 2 years from the day you were discharged and will forever show in the National Personal Insolvency Index (NPII).
Can I still get a loan as a Discharged Bankrupt?
Definitely! Specialist lenders understand that sometimes the past is in the past. They realise that after 5 years of being bankrupt your individual circumstances may have changed markedly from when you originally went into bankruptcy. As such these lenders can consider loans for ex bankrupts up to 95% of the purchase price (for purchases) or up to 90% of the valuation (for refinances).
Discharged Bankrupt Home Loan Summary
| Max LVR (Purchases) | 95% |
| Max LVR (Refinances) | 90% |
| Max Loan Size | $2,500,000 (up to 65% LVR) |
| Construction | Yes |
| Vacant Land | Yes |
| Non Genuine Savings | Yes |
| Debt Consolidation | Yes |
| Cash Out | Yes |
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