Can I refinance after a hardship arrangement?

Generally, yes. It depends how long it's been since the arrangement ended and whether your repayments have been clean since.

How long after hardship can I refinance?

It varies by lender. Some are comfortable after three months, some want six or 12 months, and a few want up to two years.

Does a hardship arrangement show on my credit report?

It can, for a period. Either way, a new lender will generally ask about it, so it's best to be upfront.

Will a past hardship arrangement mean a higher rate?

Not necessarily. If it's well behind you and your repayments have been clean since, mainstream lenders are often still an option.

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Straight Answers · Refinancing

I had a hardship arrangement a couple of years ago. Will that stop me refinancing?

Bayley Clarke · Mortgage broker on the road · Last checked 11 November 2026 · 2 min read

The short answer

Generally not, depending on how long it's been since you came out of hardship. Some banks are stricter than others, but if it's been a couple of years and your repayments have been clean since, it generally shouldn't stop you.

Some banks will let you refinance once you've been out of hardship for three months. Some want six months, others want 12, and a few want longer again. So the further behind you it is, the more lenders are open to you.

The 60 second version, filmed from the driver's seat. The rest of this page is the detail underneath it.

What the bank is looking at

A hardship arrangement can show on your credit report for a period, and a new lender will generally ask about it either way. What they want to understand is simple: was it a rough patch that's behind you, or is it still going on?

The best evidence is your repayment history since. Clean, on-time repayments every month after the arrangement ended tell the bank you got back on track. That matters more to most lenders than the fact the arrangement happened at all.

How the waiting periods stack up

Every bank sets its own line. At the shorter end, some treat hardship in the last three months as the problem and are comfortable after that. Others want six or 12 months clear. A few won't consider hardship within the last two years, and some faster refinance options at the big banks are off the table if there's hardship in the last 12 months.

So a couple of years back puts you in a good spot with most of them. If it's more recent, it doesn't mean you can't refinance. It means we pick the lender whose rules fit your timeline.

The honest bit: every file is different

Hardship arrangements happen for all sorts of reasons, and lenders look at the whole picture: why it happened, how long it lasted, what your income looks like now. A couple of years of clean repayments goes a long way, but it isn't an automatic yes everywhere.

Be upfront about it on the application. A bank that finds out on its own asks harder questions than one you told at the start.

Want to know if you can refinance now?

A 30 minute call. We go through when the hardship ended, your repayments since, and which lenders' rules fit your timeline.

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Next question

I've never missed a repayment, so why won't the bank refinance me?

Refinancing is a full assessment from scratch, with a 3% buffer on top of the rate.