The bank of mum and dads

We hear a lot about the bank of mum and dad being the answer to buying your first home when lenders refuse to talk to you without a sizable deposit. Indeed parents can often help their children take their fist steps on to the property ladder giving then significant advantage over other first home buyers. …

Do not get “snowed under” this Christmas

Its hard to believe but we are only weeks away from Christmas. The “Silly Season” that all too often finds unprepared revelers deep in debt at the commencement of the new year. If you are one of these people who leaves Christmas shopping to the last minute and buys presents “emotionally” rather than “financially” – this article is …

The positive side of credit reporting

If you are over 18 and have ever applied for any form of credit then you have a credit record. This can occur seamlessly and without you realizing it. Your credit record may be of little interest to you until you decide to apply for some form of finance. Worse still, you may be in the …

A loan guarantor will not solve all borrowing problems

It is true that often borrowers are able to breach the gap between their borrowing needs and the loan qualification criteria of lenders, by using a loan guarantor. However guarantors can only be helpful in some borrowing situations, while in others they can either add nothing to a transaction, or perhaps not even be allowed to …

Understanding the basics of borrowing

Like it or not DEBT is a four letter word. We all borrow but some of us do it better than others. Before deciding to apply for any form of credit you really should stop and ask yourself the following questions. The answers to these will help you distinguish between essential debt and debt which is …

Best mortgage reduction strategies

In the current economic environment just about the best financial strategy for anyone would be to try and pay down their mortgage as soon as possible. Once rates start going up this will be far harder to achieve than today. However not everyone is in a good financial position. It may be that you are …

Paying too much for your credit cards?

If you think that the credit card companies are charging outrageous interest rates on your outstanding credit card debt, you are not alone. A recent  Senate inquiry into credit cards  has confirmed what most of us already knew – that providers are exploiting consumer disinterest  to keep interest rates significantly higher than they need to be. This damning …