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Specialist Home Loans

Non-conforming lending for borrowers with complex or impaired credit. Common-sense assessment. Specialist and Specialist Plus — part of the Better Choice Ultimate Range.

Overview

Better Choice’s Specialist range provides lending solutions for clients whose credit histories don’t meet prime lending standards. Our approach is built on common sense — we assess the nature, age, size, and number of credit events, and whether they have been satisfied, rather than applying blanket restrictions.

The range covers four products: Specialist Full Doc (OO from 7.44% p.a.), Specialist Alt Doc (OO from 7.64% p.a.), Specialist Plus Full Doc (OO from 8.39% p.a.), and Specialist Plus Alt Doc (OO from 8.89% p.a.). Maximum LVR is 85% across all variants, with no application fee.

Specialist accommodates one credit event — including defaults, judgements, mortgage arrears, and bankruptcy discharged over 12 months. Specialist Plus accommodates multiple credit events from more than one source, including current or recently discharged bankruptcy.

Features

Fact Sheets

Specialist: one credit event

Unlimited defaults or judgements from one credit event (under $2k or satisfied ones disregarded), one mortgage arrear event, and bankruptcy discharged over 12 months.
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Specialist Plus: multiple events

Multiple credit events including current or recently discharged Part IX or X bankruptcy. Unlimited mortgage arrears from more than one event.
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Full doc and alt doc available

Both full doc and alt doc income verification across the Specialist range. Alt doc from 12 months self-employment (Specialist) or 3 months (Specialist Plus).
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Tax debt and business purposes

Cash out for tax debt repayment and business purposes is accepted across the Specialist range — a key differentiator from many specialist lenders.
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Up to 85% LVR

Maximum 85% LVR across all Specialist variants. Risk fees apply from 75% LVR. IO available for owner-occupied up to 80% LVR only.
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No application fee

Nil application fee across the entire Specialist range — Specialist and Specialist Plus, full doc and alt doc. Settlement fee of $395 applies.

Have a near prime scenario?

Complex credit doesn't have to mean a decline. Submit your client's details and our BDM team will assess the scenario and guide you on structuring.
Submit a scenario

Helpful information

Product and rates guide

Full product details, fees, and eligibility criteria.
Download

Application checklist

Everything your client needs to prepare before submitting.
Download

Servicing calculator

Estimate your client's borrowing capacity.
Use calculator

Frequently asked questions

Who is the Specialist range designed for?

The Specialist range is for borrowers who fall outside standard lending criteria — including those with prior credit defaults, court judgements, or discharged bankruptcy. There are four products: Specialist Full Doc, Specialist Alt Doc, Specialist Plus Full Doc, and Specialist Plus Alt Doc.

What is the difference between Specialist and Specialist Plus?

Specialist caters to borrowers with moderate credit impairment. Specialist Plus is designed for more complex credit histories where a greater degree of impairment is present. Contact your BDM to discuss which tier is appropriate before submitting.

What is the maximum LVR for Specialist loans?

Up to 85% LVR for Specialist Full Doc and Alt Doc. Up to 80% LVR for Specialist Plus products. LVR limits also vary by postcode category — use the Postcode Selector at [link] to confirm.

Is alt doc income verification available on Specialist loans?

Yes. Specialist Alt Doc and Specialist Plus Alt Doc both support alternative income documentation including BAS statements, business bank statements, and accountant’s declarations.

What types of credit impairment can be considered?

We assess each application on its individual merits. Submitting a scenario to your BDM before lodging is strongly recommended for all Specialist applications.

Are interest-only repayments available?

IO repayments are available on Specialist Full Doc and Specialist Alt Doc products. Specialist Plus IO availability varies — refer to the current Product & Rates Guide or contact your BDM.

Things you should know

Rates indicated are for illustrative purposes only, are subject to change without notice, and do not constitute an offer of credit. Actual rates are determined at the time of assessment. Eligibility criteria, fees, and charges apply. This information is prepared by Better Choice Home Loans and is intended for use by licensed mortgage brokers only. It is not to be distributed to consumers or used as the basis for consumer credit advice. Better Choice Home Loans ABN 79 095 728 868 Australian Credit Licence 378333.