Financial setbacks should not define a borrower’s future. For those with a discharged bankruptcy history, homeownership is still possible with the right lending solutions. Mortgage Street provides tailored mortgage options designed to support borrowers in rebuilding their financial stability.
Key Benefits of Agricultural Farm Collateral Loans
Flexible Lending Criteria
Mortgage solutions are available even for borrowers discharged as recently as six months.
Competitive Interest Rates
Loan terms are structured based on the borrower’s financial recovery progress.
Low-Deposit Options
A variety of deposit options are available to suit different financial circumstances.
Range of Loan Products
Borrowers can choose from Premium, Optimax, Tolerant, Progressive, Receptive, and Liberal loans, designed to accommodate different recovery stages.
How Mortgage Brokers Benefit from Assisting Clients with Discharged Bankruptcy Through Mortgage Street
Access to Niche Loan Products : Brokers can expand their offerings by providing clients with specialist financing solutions tailored for discharged bankrupt borrowers.
Higher Approval Rates : Flexible lending criteria increase the chances of securing loan approvals for clients who may struggle with traditional lenders.
Fast, Efficient Processing : A streamlined assessment process ensures timely loan approvals, reducing delays for both brokers and clients.
Expanded Client Base : By assisting clients recovering from bankruptcy, brokers can serve an underserved market and increase business opportunities.
Stronger Client Relationships : Offering customised mortgage solutions fosters trust and long-term client relationships, leading to referrals and repeat business.
Mortgage Street equips brokers with innovative lending solutions, expert support, and a competitive edge, ensuring greater success in assisting clients with discharged bankruptcy histories.
How It Works
1️ Eligibility Assessment – Mortgage Street experts evaluate the borrower’s financial position.
2️ Tailored Loan Options – The most suitable loan product is identified based on the borrower’s discharge timeline.
3️ Application Process – A structured process ensures seamless loan approval and settlement.
Why Work with Mortgage Street?
As a leader in alternative lending, Mortgage Street collaborates closely with mortgage brokers to provide solutions for borrowers who may not qualify for traditional loans. With flexible lending options and expert support, brokers can confidently assist their clients in securing homeownership opportunities.
Partner with Mortgage Street Today
Mortgage brokers looking to assist borrowers with a discharged bankruptcy history can explore tailored lending solutions with Mortgage Street. Contact Us today to learn more.
As Australia’s premier alternative lending solution, our mission is to empower our brokers to achieve their goals
Our goal at Mortgage Street is to provide you your customers with first-class service and innovative products to help you deliver solutions to your clients who don’t fit traditional lending criteria. But if your clients don’t qualify for a bank loan, Mortgage Street can always find alternatives. With 24 mortgage options available, we can help your customers find the right fit for their unique situation.
7 reasons why you should work with Mortgage Street
Mortgage Street is committed to providing a modern, efficient service to our clients. By distributing home loans through professional Australian mortgage brokers, we can offer a convenient and streamlined digital process that allows you to apply for a loan, submit documents, and track the progress of your application from the comfort of your own home.
Mortgage Street is committed to providing a modern, efficient service to our clients. By distributing home loans through professional Australian mortgage brokers, we can offer a convenient and streamlined digital process that allows you to apply for a loan, submit documents, and track the progress of your application from the comfort of your own home.
Mortgage Street is committed to providing a modern, efficient service to our clients. By distributing home loans through professional Australian mortgage brokers, we can offer a convenient and streamlined digital process that allows you to apply for a loan, submit documents, and track the progress of your application from the comfort of your own home.
A Mortgage Street accredited mortgage broker can help you to maximise your borrowing capacity by advising on the best loan structure and providing guidance on how to strengthen your application. This can be helpful if you have a complex financial situation or are self-employed.
If you are planning to purchase an investment property, a Mortgage Street accredited mortgage broker can help you understand the tax implications of negative gearing and advise on the best home loan options to suit your goals.
A Mortgage Street accredited Mortgage brokers have access to a wide range of lenders, including those that may consider larger loan amounts. This can be especially useful if you are looking to purchase a more expensive property or undertake extensive renovations.
Many lenders require mortgage insurance for home loans with a loan-to-value ratio (LVR) of over 80%. By working with a Mortgage Street accredited mortgage broker, you may access lenders that do not require mortgage insurance up to an LVR of 85%, saving you money on your loan.
To help you find what you’re looking for, we’ve grouped our lending criteria into key categories.
Turbo charge your application for faster turnaround times
Mortgage Street focuses on what you and your customer needs.Submit a scenario now and we’ll help you every step of the way
Helpful guides & forms
- MSt 001 Customer Information Collection
- MSt 002 Payroll Authority form
- MSt 003 Loan Scenario form
- MSt 007 Applicant details verification
- MSt 011 Lo-Doc Declaration Accountants Verification
- MSt 012 Full Partial Discharge Authority
- MSt 013 Rate Review Form
- MSt 014 Gift Declaration Form
- MSt 015 Direct Debit Request
- MSt 028 Buying Your First House
- MSt 063 Bespoke broker premium
- MSt 067 Everyday transaction account
- Loan Application Documentation Checklist
- MSt 134 Request for Hardship Assistance
Don’t let your unique situation hold you back, explore the all mortgage options offered by Mortgage Street.
Good Borrowers
Specialist loan
Relocation loan
Convenient calculators
FAQ
How long after discharge from bankruptcy can a borrower apply for a home loan in Australia?
Some non-bank lenders, including Mortgage Street, may consider loan applications as early as one day after discharge. However, the eligibility for specific products depends on the borrower’s discharge timeline. For example, some products may require a minimum discharge period of six months or two years to access more competitive rates. To ensure eligibility for the best options, it is recommended to complete MSt 003 for a detailed assessment of the borrower’s situation.
What deposit is typically required for discharged bankrupt borrowers?
Discharged bankrupt borrowers are often required to provide higher deposits, ranging from 10% to 30% of the property's value. The exact amount depends on the lender's policies and the borrower's financial situation.
Are interest rates higher for borrowers with a discharged bankruptcy?
Yes, Mortgage Street often adjust interest rates to reflect the borrower's financial recovery progress. After two years post-discharge, borrowers may gain access to more competitive rates and flexible lending options.
How can discharged bankrupt borrowers improve their chances of loan approval?
Borrowers can enhance their eligibility by:
- Rebuilding credit through timely payments on bills and existing credit accounts.
- Saving for a higher deposit to strengthen their application.
- Demonstrating stable income with consistent employment.
- Working with an experienced Mortgage Street accredited broker in discharged bankruptcy cases.
What documentation is required for a home loan application post-bankruptcy?
Mortgage Street typically requires:
- Proof of discharge from bankruptcy.
- Evidence of stable income (e.g., payslips, tax returns).
- A detailed explanation of the circumstances leading to bankruptcy.
- Proof of timely bill and debt payments post-discharge.
Can discharged bankrupt borrowers refinance their home loans in the future?
Yes, after establishing a positive repayment history and improving their credit profile post-discharge, borrowers may be eligible to refinance their home loans under more favourable terms with Mortgage Street
Broker Support
Monday to Friday 9am – 5pm (Sydney time)
Frequently Asked Mortgage Product Questions
Key points
+LVR stands for the loan-to-value ratio. LVR is the amount of your loan compared to the Bank’s valuation of your property offered to secure your loan expressed as a percentage. Home loan rates for new loans are set based on the initial LVR and won’t change during the life of the loan as the LVR changes.
*Comparison rate: The comparison rate is based on a loan of $150,000 over the term of 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
Loan applications, refinances and balloon amounts are subject to credit assessment.
Conditions, credit criteria, fees and charges apply. Based on Mortgage Street’s credit criteria, residential lending is not available for Non-Australian resident borrowers. Interest rates subject to change. Before making a decision, it’s best to read the terms and conditions.