What is a Judgements?
A Judgement is a decision by the Court that requires you to pay your credit provider what you owe them plus any fees, charges and interest. These are considered worse than Defaults as they are Court Orders. A Judgement will typically remain on your Credit File for 5 years.
Can I still get a home loan with a Judgement?
Definitely! Specialist lenders have products available that can see you borrow up to 95% of the valuation for both purchases and refinances if you have Judgements on your Credit File. Some lenders will even consider allowing Unpaid Judgements to remain on your Credit File if you are in genuine dispute with the listing party.
Judgement Home Loan Summary
| Max LVR (Purchases) | 95% |
| Max LVR (Refinances) | 95% |
| Max Loan Size | $5,000,000 (up to 65% LVR) |
| Construction | Yes |
| Vacant Land | Yes |
| Non Genuine Savings | Yes |
| Debt Consolidation | Yes |
| Cash Out | Yes |
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