In need of Finance in 2019?
Comprehensive Credit Reporting and the new Open Banking world will have an effect on your mortgage approval.
Will it be easier or will it be Harder? Let's find out...
The way Australian lenders assess borrowers continually evolves.
In 2018, the major banks began Comprehensive Credit Reporting, including providing “positive” information to credit reporting agencies about borrowers, such as how often they pay bills on time, as well as more detailed information on credit accounts such as dates opened and closed, credit limits and the type of credit provided.
In 2019 this is stepped up further with the major banks beginning to provide access to data regarding your credit and debit cards, deposit and transaction accounts, and later in 2020 on mortgage accounts.
Why does this matter?
How to make your comprehensive credit report shine
Whether you are looking for your first home, next home, an investment or to refinance, contact us today to review your situation.
We can, with your permission, assist you to check your credit file and provide you with guidance to help make the loan process as smooth as possible.
With access to over 35 lenders, we can provide you with choice, and options to secure your finance... the game is no longer just about interest rates... it is about matching your circumstances to bank policies so that you obtain the loan approval you are looking for.