APPLYING FOR FINANCE: 6 TIPS TO HELP GET APPROVED
September 14, 2020
With the generous government grants available, there has never been a better time to buy a home, here are some quick tips to help prepare for applying for finance:
- Complete a credit check on yourself to make sure you have a good credit rating: these are free and you can apply here.
- Ensure good spending habits that show you can afford to service the loan. Note: Lenders will assess 3 – 6 months of discretionary spending habits by reviewing your bank statements, there will be no secrets
- Clear your credit card debt and personal loans .
- Reduce credit limits on any credit cards, buy now pay later providers and store credit cards.
- Establish a regular savings habit.
- Save at least a 5% deposit.
Remember not to buy out of your budget, focus on being able to create equity in your home.
Read Our Other Articles
DevelopmentWA to drive WA’s future
The new State Government’s powerful entity “DevelopmentWA” is set to deliver over $3.8 billion in new projects next year...
Population growth driving WA’s economy
WA’s economy is being powered by people as the state experiences positive population growth closing the gap between WA...
IS NOW THE RIGHT TIME TO BUY A NEW PROPERTY?
Have you been considering the purchase of a property, either as an owner-occupier or as an investor, but unsure...
Perth property is bouncing back
In a much needed change, Perth’s property prices have finally seen a slight upturn for the first time in...
Adelaide’s property market needs to be acknowledged
Terry Ryder the founder of hotspotting.com.au. believes Adelaide’s property market is one of the best locations to consider when...
WHY ITS TIME FOR OUR CITY TO GROW IN NOT OUT
It is no secret that Perth has taken its time to adopt apartment living as a viable alternative to...
BHP to raise Iron Ore export capacity
BHP is looking to increase its Western Australian iron ore export capacity from Port Hedland by an extra 40...
Perth’s housing market jumps into 2020 with positive growth
Perth’s housing market has kicked off positively with home values set to rise by 6% this year according to predictions...
COVID-19 and the property market
With unpredictability around the ongoing pandemic COVID-19 and the potential onset of a recession there is some uncertainty around...
Large infrastructure set to supercharge WA’s economic recovery
WA’s economic recovery from COVID-19 will be supercharged by executing a list of large construction projects that will create...
