Our Specialist Product offers flexible lending solutions for borrowers with paid or unpaid defaults, with no requirement, in some cases, to clear the unpaid defaults at settlement. It can be used for a range of personal or investment purposes, subject to meeting the qualifying criteria.
Credit History:
This product is ideal for:
| Loan Purpose | Suitable for purchasing, refinancing, or releasing equity in owner-occupied or investment residential properties. |
| Maximum Loan-to-Value Ratio (LVR) | Up to 80%. |
| Maximum Loan Amount | <70% LVR = $5.0m; ≤80% LVR = $3.0m. |
| Maximum Loan Term | 30 years |
| Repayment Structure |
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| Repayment Options | Weekly, fortnightly, or monthly payments. |
| Redraw Facility | Available |
| Extra Repayments | Permitted |
| Ongoing Fees | $15 per month account administration fee |
Alt Doc Specialist provides flexible lending solutions for self-employed borrowers requiring alternative income verification, with paid or unpaid defaults to be cleared at settlement. It can be used for a range of personal or investment purposes, subject to meeting the qualifying criteria.
Credit History:
This product is ideal for:
A: A specialist home loan is a mortgage solution for borrowers with significant credit impairments or complex financial circumstances — such as multiple defaults, discharged bankruptcies, or serious life events like divorce, unemployment, or illness — that prevent them from qualifying for standard or near prime lending. Specialist loans assess each application on its individual merits rather than applying blanket scoring criteria.
A: Yes. VMG's Specialist loan product considers borrowers with discharged bankruptcies. Each application is assessed on a case-by-case basis by VMG's experienced credit team. Contact a VMG-accredited broker or reach out to VMG's BDM team for details on the specific criteria that apply to your situation.
A: Unlike the Near Prime product, VMG's Specialist loan does not always require unpaid defaults to be cleared at settlement — in some cases they can remain. The exact requirements depend on the specifics of the application. Brokers should contact their BDM for full details on the credit history criteria that apply.
A: VMG's Specialist product is available for both Full Doc and Alt Doc applications. For Full Doc loans, the maximum is $5.0m at LVRs below 70%, or $3.0m at LVRs up to 80%. For Alt Doc loans, the same LVR-based limits apply: $5.0m at LVRs below 70%, or $3.0m at LVRs up to 80%. The maximum loan term is 30 years, with Interest Only periods of up to 5 years available.
Please allow our team 24-48 hours to review your documents and get in touch. For urgent assistance, call us at 8600 7900.
You can give us a call at 03 8600 7900 to clarify your questions.