Risks with a House and Land

When making a significant purchase such as a house and land it is important to obtain a pre-approval for finance. That does not mean a high level chat with a lender, it means lodging a full application with a lender of your choice and obtaining formal finance approval. If you fail to do that before …

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 …

To fix or not to fix – that is the question !

Home buyers are very confused, and who could blame them? While the RBA seems to stick with a strategy to keep interest rates low in order to  help the Australian economy find its feet, the banks have commenced rate increases of their own. These increases are no longer aimed at discouraging excessive speculation in the Australian …

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 …

Getting your financial house in order

While smart financial management is something most of us aspire to, in our experience few people actually get there. First of all, analyzing ones financial situation and charting out a wise financial course is not terribly exciting as well as time consuming. Therefore as with other non-essential decisions to our day-to-day existence, they are often …