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
Househunters flocking to the city of Adelaide
The city of Adelaide is the state’s most sought-after location in South Australia with 943 property sales recently recorded...
WA leading the way out of pandemic restrictions.
WA may be one of the first states in Australia to lead the nation smoothly out of the COVID-19...
Perth Property Market | Demand exceeds Supply
Perth’s property market, despite COVID-19, is experiencing higher demand than supply with REIWA President commenting on a reducing number...
First weekend The Residence on-site sales suite is open
THIS WEEKEND is your opportunity to visit our on-site sales suite to select your new boutique off-the-plan apartment at...
PERTH RENTAL MARKET UPDATE
Perth’s rental market remains incredibly competitive as we enter the second quarter of 2022.
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...
Scarborough Beach To Get Australia’s First Ever Trackless Tram
Sensational news for Perth as Australia’s first ever trackless trams are set to hit Scarborough Beach. This proposed $97...
Bold 10 year vision for Perth
An exciting new vision has been unveiled this week by The City of Perth Council who endorsed the release...
INTEREST RATES SLASHED TO RECORD LOW
The Reserve Bank of Australia have cut interest rates to a record low of 0.10% – a dramatic shift...
Restrictions lifted and a flattened curve makes WA the best place to be right now.
WA Premier Mark McGowan is eager to get West Australians back to work after releasing the states highly anticipated...
