This Month - Is this the right time to fix my interest rate?
At today's board meeting the Reserve Bank decided to leave the cash rate unchanged at the current low of 2.00%.
Interest rates and the Australian home loan market continue to be hot topics in 2015. With the RBA cash rate and interest rates still so low it will be interesting to see where they go in the future.
Many people may be wondering if it is a good time to fix their interest rate.
There is no easy answer to that question! However in this month's article we discuss the advantages and disadvantages of the available home loan options.
As always, please call us for a chat if you would like to discuss the options for your particular circumstances.
We look forward to hearing from you.
August - Know your credit file?
Something as harmless as making a late payment for a gas or phone bill can place a black mark on your credit report – hindering your ability to obtain a home loan.
Here are some of the top reasons, which get listed on customers Credit file, which you may be unaware of:
1. Adverse Listings - e.g. overdue accounts, Default judgments
2. Timeframe for adverse listings – Listings stay on your credit file for 5 – 7 years.
3. Enquiries – Too many credit applications leads to a ‘busy’ credit file and is detrimental to your ability to borrow.
4. Age of Credit Report – A new Credit file depending on your age can spark a red light towards a ‘New Report’
5. Address and Dates – Having too many addresses in a short period of time may be viewed as unstable and will hinder your application for finance.
If you are searching for finance, please contact us to guide you safely through the maze!