What’s changing with the new credit reporting system?

Australia’s credit scoring system is changing from 1 July 2018.  It will be known as the CCR (Comprehensive Credit Reporting), and you better pay all your loans and credit cards on time or your credit report is at risk. The current credit reporting system is known as a negative credit reporting system – one that […]

Genuine Savings for Home Loans explained (and how to avoid it)…

If you’re considering purchasing a home soon, you’ll need to understand how genuine savings for home loans works. What is genuine savings? Genuine savings has quite a simple definition with every lender (despite each lender being able to have their own definition): Money you’ve actually saved, and can prove you saved it. Equity in a […]

Lenders Mortgage Insurance explained…

If you’ve ever had to pay Lenders Mortgage Insurance, it probably felt quite similar to being punched in the face. If you don’t know what that feels like… It hurts.  No-deal! However, unlike being punched in the face, Lenders Mortgage Insurance (LMI) is sometimes necessary. And if you understand how LMI works, and how it differs from […]

An Insiders Guide To Self Employed Income Proof

Self employed income proof for home loans can be complex.  Even if you’re applying for a low doc loan, determining the best next step to take isn’t simple. It’s not rocket science, but there is a particular type of science involved… This article explores what factors lenders consider when determining your income if you’re self-employed, and also offers a […]

Learn Exactly How to Calculate Borrowing Power

If you’re applying for a home loan, you probably want to know how to calculate borrowing power. In fact, it’s the number one question people want to know. So` we’ll show you exactly how your lender will determine your borrowing power. Be prepared… It’s sometimes a bit dry because we’ll be digging into the details, […]

The 2 Essential Home Loan Approval Criteria You Must Pass

There’s only 2 home loan approval criteria that you’ll need to pass when you’re applying for a loan. If you fail either one, your application will not pass go and you will not collect $200. Watch the video for a simple explanation Watch the above video for a detailed, although brief, behind-the-scenes peak at what happens […]

How Your Company Car Increases Borrowing Power

If you’re wondering how your company car increases borrowing power, then you’ve come to the right place. Your company car must be available for personal use. And if so, some lenders will increase your assessable income. This increase to your assessable income will make your income appear higher than it actually is (which has the same net effect of reducing your living […]