Frequently Asked Questions

If I have bad credit or a default, can I apply for a home loan?

Select has partnerships with a few lenders offering home loans to borrowers with a history of bad credit or defaults. Usually the lender charges a higher rate, as there is more risk in lending money. However, each person's circumstances are different as is their ability to repay a home loan, which lenders will take into account.

Our Debt Negotiators can also assist in negotiating with your creditors to reduce the amount payable or have the default updated / removed.

Don't hesitate to speak to one of our team to discuss your home loan options.

Can I apply for a home loan even though I am not an Australian resident?

In most cases, this depends on a number of requirements. This can include:

  • What kind of visa you currently hold

  • Who is applying for the loan (is it just you, or you and a partner?)

  • Your credit score

  • Your current savings and assets

  • The size of your deposit or Loan to Value Ratio (LVR)


Our Home Loan Specialists can help provide expert advice on this topic.

What is a self employed loan?

These specialised home loans are designed for self-employed applicants who may have difficulty providing all the necessary up-to-date documents required for an ordinary home loan.

For loans of up to 80% LVR, you are required to provide the following documentation:

  • Self declaration of income

  • An accountant's verification

  • At least 6 months' business activity statements

  • (Or) 6 months' business bank statements

I want to take out a home loan. What do I need to apply?


Most lenders require you to have a deposit and have had a regular income stream for at least 6 months prior to applying for a home loan. Select is committed to making the home loan process as simple and stress free as possible.

We tailor a home loan package to suit your circumstances and needs, we do not push products we know won't work for you.  Our Home Loan Specialists will explain each option fully and outline all of the supporting documents and information needed before applying.

Can I refinance my home loan if I am behind on my repayments?


Typically, you need to be up to date with your payments and not have had any errors in the past six months. This can vary between different lenders, but most do require you to be clear from defaults for a certain length of time, prior to your application.

However, Select specialise in non-conforming loans and have an extensive panel of lenders to choose from.  Feel free to contact one of Home Loan Specialists to discuss your options, we may be able to assist.  

What is Debt Consolidation?

Simply put, it brings a number of debts into one easy payment. It makes sense that it would be easier to deal with one debt instead of many.

At Select, we know everyone's situation is different and we understand that there is no “one size fits all” solution when it comes to managing debt. For this reason, we present affordable options specifically tailored to suit your situation.

Consolidating your debts through Select::


  • Consolidating debts is an easy, cost-effective way to bring debts together into one, affordable payment

  • Understanding your needs and delivering exceptional customer service is something we believe you deserve – no matter what your situation is

  • If you’re struggling to pay your debts and repayments, you need to know your options and Select can help you 

  • A debt solution is a discrete phone call away. It’s time to stop the stress and anxiety that exists when you can’t afford to pay for the essentials because debt collectors are knocking on your door, sending demand notices or calling you 24/7. You need a fast, effective solution which restores peace of mind

  • By choosing Select to assist with your debt, you avoid bankruptcy and debt agreements with nothing showing on your credit file

  • If you do have defaults or judgements on your credit file, cleaning them up is the best way to move forward to financial freedom

  • Call us today to discuss 03 5446 8524 

  • Facebook Social Icon