A home loan arrears occurs when home loan repayments are not made on time but are not listed on your Credit Report. If it is not listed on the Report then it will not been considered in future loan applications and won’t hinder your chances of being approved.
(However, late repayments which the borrower has been notified of by mail and are more than 60 days overdue may be recorded on your Credit Report as a credit default.)
The first step to a better understanding of your financial situation is to apply for a free credit analysis report, or please contact us for more information.
