Your credit profile

  • History of Bad Debts?
  • Want to check your credit history?
  • Find out how much you can borrow
  • Need to consolidate your debts?

Anyone who has borrowed money (for a credit card, mortgage, other loan, car etc) has a credit file. When you apply for a loan, the information on your credit file is taken into account.

Amongst other things, banks, retailers and other credit providers rely on your credit file when deciding whether to lend you money or not. Every credit provider attaches varying degrees of importance to the information provided in the credit file. Together with the information they obtain from you and depending on the amount of risk they are prepared to take, credit may be approved.

What is on a Credit File?

A credit file records information about people who have been seeking or obtaining credit during the past five years, and contains history including:

  • Personal details such as: name, residential addresses, date of birth, drivers license number and current or previous employer
  • Credit applications and inquiries you have made during the past five years
  • Records of some current credit accounts
  • Overdue accounts (defaults) which may have been listed against your name, including an indicator on whether the default amount has been paid or not
  • Bankruptcy information
  • Default judgments
  • Public record information

Public Record Information includes:

  • Judgment and writ/summons information obtained from the various courts around Australia
  • Bankruptcy/Part X/Part IX information obtained from the Insolvency and Trustee Service Australia (ITSA) in each state.
  • Directorship information obtained from the Australian Securities and Investment Commission (ASIC)
  • Proprietorships

Contact us and tell us about your situation. We'll suggest ways you can restructure your finance to achieve the above benefits.

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FAQs
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Depends on the size of your deposit, the value of the property, and your servicing capacity (based on your income and how much you are able to repay).

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Most mortgage lenders will require a deposit of 20% or more of the property price. Less may be required however will require mortgage guarantee insurance in most cases

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Depends on the type of loan, intrerestr rate, payment term, and whether you pay monthly or fortnighly. Use us mortgage calculators to guide you.

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Every state is different and may depend on the value, whether you are building or buying an established home. Read more in our FHOG article

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It is a rate that includes both the interest rate and the fees and charges relating to a loan, combined into a single percentage figure that lets you compare loans from differengt lenders on a fair comparison.

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This 'in principle approval' is usually valid for 3 months. Gives you the confidence on how much you can borrow before your purchase a property.

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The cost of Stamp Duty varies between States and Territories. Subject to your personal loan circumstances, the cost of stamp duty can be included in the loan amount you borrow.

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