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 …

The Home Deposit Dilema

Saving for a home deposit has never been simple. According to recent reports, it can easily take the best part of a decade, for those not wanting to borrow anymore than 80% and thereby avoid the mortgage insurance. However much depends on your personal financial priorities and your age as well as stage of life when you start …

Bad credit vs Repayment history indicators

It will not come as a surprise to any reader that borrowers with a history of bad credit may have a difficult time qualifying for any form of finance and may have to pay a higher rate of interest should they find a lendr who is prepared to approve their loan application. In March 2014 …

What does it take to qualify for finance

I am convinced that for many Australians finance is a complete mistery. They see some adds on television, hear satisfied borrowers on the radio, and they too start believing in the impossible. Reality is of-course very different. Finance is not a hit-and-miss game where you simply keep applying until you find the lender who will …

What goes down must come up…

You have heard the old expression of “what goes up must come down”, well the same is true in reverse. Mortgage holders all around Australia are popping champagne corks. Many borrowers have never seen it so good. It is in fact possible to borrow for the purchase of a property at under 4.5% and fix …