Whist Veda Advantage may charge you to obtain a copy of your Credit Report via their express service, everyone is entitled to a free copy of their report, all you have to do is ask and one will be sent to you in approximately 10 days.
Alternatively, you can obtain a copy of your Credit Report instantly online via registering at: WISR
It’s important for borrowers to be aware there are two types of mortgage insurance – the one
you pay to protect your lender, the other you pay to protect yourself, your family and your home.
Understanding the two types will ensure you’re not caught thinking you’re protected when you’re not.
Should you borrow money to invest? That depends on your own personal needs and circumstances.
Get advice from a licensed adviser if you are not sure. A licensed adviser is obliged under the law to look at your own personal situation. Real estate agents and salespeople just look after their clients, not you. Speaking generally, plenty of people and businesses borrow to invest every day. So long as the investment itself is sound, borrowing can be sound. Borrowing for bad investments will destroy your hopes and plans. If the investment loses value or even ends up worthless, you not only lose all your own capital but you also owe a debt as well.
Want to learn more about Borrowing Money & Gearing? Click here to download the full guide.
Ensure you have the best start to your property purchase venture with a finance pre-approval.
Why you need a pre-approval
You don’t need to find your new home before you can apply for a loan. It’s actually better to get your loan sorted beforehand.
You’ll know exactly how much you can afford to pay for a property. Once you find the right property, you’ll be able to focus on the purchase—rather than having to sort out the finance at the same time.
You’ll have a better idea of what properties to look for, because you won’t waste time looking for something outside your price range.
With a pre-approved loan, there are fewer chances of hiccups with the sale process.
Sometimes, sellers will accept an offer below list price, because they have peace of mind that the property really is sold.
The seller can take the property off the market with confidence knowing the buyer is serious.
If you decide to make an offer you’ll be in a position to move quickly if your finances are sorted – this will help you avoid being gazumped.
Read More Here.