The simple answer is it depends on how poor your credit history is. If you are simply in arrears on a few accounts then the banks will show you as having a 'poor payment profile'. If you use a good mortgage broker then they should be able to explain your situation to the lender, and if you have a good explanation for it then it may be possible to arrange you a mortgage.
If you have any outstanding judgements or listings then the lenders will not look at your situation. The first step you need to take is to 'rehabilitate' yourself.
Your Bond Busters consultant will assist you with rehabilitation through our Debt Management service. This will include checking your credit report, budget management, correction of your credit record as well as removal of paid up defaults This will enable your consultant to take your deal back out into the market once you have 'corrected' your situation.