Simon and Jenn are a young family and frustrated renters. Sick of paying rent to a landlord, the couple wanted to start putting this money into a home they could call their own. They also wanted to get into the property market sooner rather than later.
With the cost of renting and the demands of a young child, saving for a large home deposit was proving to be an excruciatingly slow process. But they got together a five per cent deposit and started looking for finance suitable for a first home.
Unfortunately, Jenn had defaults on her credit history – two small unpaid Telco bills. Jenn's bad credit history meant their applications for finance were graded poorly and a 95 per cent loan-to-value ratio was not available to them. That is until they contacted Rapid Finance.
