Articles - Broker spotlight: How Brad Kirwan mastered lending to self-employed and credit-impaired borrowers

Broker spotlight: How Brad Kirwan mastered lending to self-employed and credit-impaired borrowers


A Gold Coast broker says his rewarding experiences helping credit-impaired consumers shows they are not necessarily bad borrowers – they may just have had bad things happen to them.

Brad Kirwan is the sole trader behind Ocean Home Loans and has helped people across Australia buy a home since the early 2000s.

He has served self-employed and credit-impaired borrowers since they started inquiring through his website in the early days of his business.

Most have been discharged from bankruptcy and Mr Kirwan said almost all of them have a valid reason for their situation.

This includes tradies who were injured at work and uninsured, retail operators whose passing trade disappeared after street closures, and people who have experienced marriage breakdowns.

“You find most of these people are exceedingly grateful that you spend the time to find out about their financial issue, and that there is a possibility they can own a house through a Specialist lending solution,” he said.

“I’ve had people say ‘I never thought I would own a home’.”



Mr Kirwan reports that he has received strong support from his Resimac BDM.

They have answered his queries on matters such as capping the risk fee, the credit policy position on receiving workers compensation and more, and helped him master lending to self-employed and credit-impaired borrowers.

“Eventually, you realise Specialist lending is not that hard,” Mr Kirwan said.

“It’s actually quite defined. You can say to customers ‘you are in this box and there is a lender for you’.

“Whenever I get a credit-impaired borrower, Resimac is straight in the mix.”

Resimac Specialist products allow unlimited arrears, unlimited cashout, debt consolidation and up to 90 per cent LVR (subject to certain criteria and terms and conditions).

Mr Kirwan added that there was an opportunity to plot a path for a self-employed and credit-impaired borrower.

Such a borrower may later refinance to a Prime product, which will help retain their business.

Mr Kirwan said serving self-employed and credit-impaired borrowers also created more business through the referrals they generated. These customers can be quick to vouch for a good broker. Indeed, many of Mr Kirwan’s customers live interstate, as word of his service spreads.

He encourages any broker looking to explore lending to self-employed and credit-impaired borrowers to take advantage of the products and support provided by Resimac.

“The BDMs are there to support you. Just ask questions,” he said.

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