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NAB Moves Closer To Comprehensive Credit Reporting

personOtto Dargan access_timeFebruary 20, 2018

Borrowers will soon feel the power of positive credit reporting The National Australia Bank (NAB) is the first major Australian bank to begin using comprehensive credit reporting (CCR) but not just yet for home loan applications. Its system will be implemented for personal loans,...

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Challenging A Bank Valuation

personOtto Dargan access_timeSeptember 15, 2016

Are you unhappy with your property valuation? One of the leading valuation management firms has come out requesting that customers stop challenging their valuations. ValEx, VMS and other valuation companies that work with the major banks receive high numbers of dispute requests...

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Do You Have Bad Credit Due To Divorce?

personOtto Dargan access_timeDecember 7, 2015

Did you suffer credit damage due to a divorce and need a home loan? Have you been knocked backed for a mortgage even though you’re now trying to get back on your feet? Around 1 in 3 married couples get separated every year in Australia and it directly or indirectly leads to...

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Do You Have Bad Credit Due To Illness?

personOtto Dargan access_timeNovember 19, 2015

Do you have defaults on your credit file because you sustained an injury or fell ill and couldn’t keep up with your rent, bills and credit card repayments? Are you worried that the bank won’t accept your home loan application? The fact is, most banks will look at your application,...

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Don’t Let Bad Credit Stop You: Get A Great Interest Rate!

personOtto Dargan access_timeNovember 19, 2015

Normally, people with a bad credit history have to go to a specialist lender in order to get approved for a home loan. A specialist lender charges a higher interest rate, which can be anywhere between 2-4% higher than standard interest rates. While this may be the only option...

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Comprehensive Credit Reporting Is Here: Bad News For Borrowers?

personOtto Dargan access_timeJuly 30, 2015

One of the big four banks has flagged that it will start sharing much more information about customer accounts to credit reporting agencies as part of the so-called Comprehensive Credit Reporting (CCR) system from as early as August 2015. As more lenders get on board, it could...

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6 Ways To Damage Your Credit File

personOtto Dargan access_timeApril 24, 2015

Did you know that most of your transactions are recorded on your credit file by credit reporting agencies like Equifax? Around 85% of Australians have never accessed their credit file (Experian Australia) which means that you may have a black mark on your credit file and not...

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Can A Superhero Get A Home Loan In Australia?

personOtto Dargan access_timeFebruary 27, 2015

Banks like to make it tough for Australians to get a home loan on the best of days but what if you’re that little bit extra-ordinary? Despite being the quiet protectors of our pitiful human butts, a superhero would likely get painted with the same crazy brush as any other...

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11 Reasons Your Home Loan May Be Declined

personOtto Dargan access_timeFebruary 26, 2015

Has your home loan application ever been knocked back by a bank? Many lenders in Australia are quite strict when it comes to allowing people to borrow money for a home and chances are one of these 11 reasons will be the basis for why your application is knocked back. Keep in...

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3 Ways To Reduce LMI On A Home Loan

personOtto Dargan access_timeFebruary 18, 2015

Unless you’re a specific type of doctor, accountant, lawyer, engineer or other professional, you’ll have to pay Lenders Mortgage Insurance (LMI) when borrowing more the 80% of the property value. Having a Loan to Value Ratio (LVR) of more than 80% is a huge risk for the banks...

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