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
Construction Update
It is exciting times at Griffin as several of our projects move into the construction phase over the coming...
A SURGING RESOURCES SECTOR DRIVING RECORD JOB OPPORTUNITIES
By the end of 2022 the total number of people working in the State’s surging resources sector will surpass...
Property market still positive despite COVID-19
REIWA has called on the State and Federal governments to conjure up a relief package stimulus to ensure the...
Perth’s growing city skyline
Perth’s skyline is continuing to evolve with Elizabeth Quay set to be the home of Perth’s tallest twin skyscrapers....
Return of consumer confidence in Australia
“The return of consumer confidence, high household savings, and a decline in the number of people on JobSeeker are...
PERTH’S PROPERTY MARKET THE PANIC BUYERS NEW TARGET
Panic buyers are at it again except forget the toilet roles, Perth’s panic buyers have sent the property market...
AUSTRALIA HITS GOLD PRODUCTION MILESTONE
Australia’s gold production hit a record high milestone producing 328 tonnes in the first six months of this year...
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...
A strong finish for housing values in 2019
Recent data from CoreLogic’s national home value index shows housing values continue to rise in Perth with a 1.1%...
New home sales figures on the rise
A second consecutive month of increased new homes sales has given a big confidence boost to Australia’s property sector with...
