If you have been contemplating investing in either property or business, you may be in need to borrow.
The problem is, the banks are so busy with their business of lending, it's not that quick & easy to get a loan approved. Therefore, you need to be thinking ahead of time by preparing your finances to be ready for any financial application. This means getting copies of returns from past years and being able to demonstrate that you have the capability of making repayments. So your best option is to get a pre-approval of what you can borrow before you commit to the purchase or sign any contract. That way you can't be disappointed if they say no to your dream.
But getting ready to borrow for any reason can be more complex. Did you know the banks will want to look through all your transactions to see what you spend your money on? Including things like, streaming, eating out, and pet costs. So if you are in the market for finance, it’s better to know what you might need to supply before you’ve spilled your life.
And please, whatever you do, do not go from bank to bank making enquiries. This will go against you in your credit rating.
We’re happy to discus with you about your finance needs before you leap lead first. Or, if you believe it’s time to re-finance, also feel feel free to contact us for a chat. We’re here to help!