Vidhu Bajaj

Is there a minimum credit score for a car loan in Australia?

In promising news for prospective buyers with a shaky credit history, there’s no fixed minimum credit score for a car loan in Australia. However, as lenders refer to your credit score to determine the risk of providing a loan to you, a lower score might make them wary of lending to you.

Zip Pay vs. Afterpay: What you need to know before joining

Curious about two of the more popular BNPL platforms, Afterpay and Zip Pay? Let's explore their benefits, as well as how they differ from each other.

What is the difference between joint tenants and tenants in common?

Increasing property prices have made it even more challenging to buy a house. To get around this hurdle, some friends or relatives are choosing to buy a house together by pooling their resources and taking out a joint mortgage.

What’s the difference between genuine savings and non-genuine savings?

It’s likely that you already know you need to provide a deposit to qualify for a home loan. That’s not all your lender will require however. Many lenders also want to see how you saved that deposit, especially if you wish to borrow more than 80 per cent of the property’s price. While it may seem unnecessary, your ability to save money can tell a lender a lot about your credibility as a borrower. 

What homeowners need to know about mortgage lenders going bankrupt

Ever paused and wondered what would happen if your mortgage company went bankrupt? Generally speaking, your home loan will most likely be transferred to a new bank that chooses to absorb the bankrupt mortgage lender.

Do I need multiple mortgage pre-approvals?

Getting pre-approved for a mortgage can help narrow down your property search considerably, as you’ll have a firm budget in mind while you go house hunting. Additionally, being pre-approved for a mortgage puts you in a better position to negotiate a price at an auction.