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Can I still get a loan with a credit default?

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This will depend entirely on what the default is, how much it is for and how long ago it was lodged against your name. Generally defaults only last on your credit file for 5 years. Banks are very reluctant to lend to anybody with any adverse credit history. They may consider some circumstances however are currently looking applications with poor credit history harshly at the present time. I have some other non bank lenders that will certainly consider the application on a case by case basis however you would normally need to have at least 20% of the property’s value to contribute as savings. So the short answer is “yes” however it is going to depend on each individual’s circumstances at the time. It would be best to sit down and look at your situation so I could assess what options would be available.


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