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
WA economy back on track
Premier, Mark McGowan believes WA is “on the cusp of great economic activity”. The state has entered into a...
Quick recovery could reduce Government bailout spend
The JobKeeper and JobSeeker schemes, originally budgeted to cost $130 billion with the expectation that 6 million people would...
Perth’s rental rise and why this benefits Investors.
Perth’s rental market is showing positive improvement with the latest data from the Real Estate Institute of Western Australia...
Australia and WA | strong population growth
WA is projecting strong long-term population growth which is an important indicator positively supporting Perth’s property market, both in...
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...
WA | back on track
The first WA State Budget surplus in 5 years of $553 million and a $4.1 million reduction in State...
Potential USA trade deal to create 6,000 jobs
A potential trade agreement with the US for Australia’s natural resources would create significant economic benefits for our economy....
Your Guide To Buying Off-The-Plan
Buying off-the-plan can be a daunting process and there’s a chance the uncertainty of not being able to see...
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...
