In our time as personal loan and mortgage brokers in Rockingham, we have processed paperwork for a lot of individual financial situations. Basically, it works like this: the better your finances, the lower interest and better terms we can find for you. Credit reporting has become a bit more comprehensive since last March, giving lenders a bigger “picture” of your financial situation.

Consequently, if you want to be someone who gets great loan offers when you talk to a loan broker, you need to have a great financial situation. Even if you don’t need a loan, straightening up your finances will provide a host of benefits. Here are some resolutions you should make right now.

I Will Lower My Debt, Especially Credit Cards

Credit card and retail account debt can be expensive. If you have multiple debts, we recommend paying them off one account at a time. To decide which accounts to pay first, there are two schools of thought. The first is to pay off the account with the highest interest rate. The second is to start with the smallest one and move through to the largest one.

People have gotten great results using both techniques. The important thing is to pay off expensive debt and leave yourself one credit card that you pay off monthly if possible.

I Will Save Money

Lenders like to see that you can save money. Whether you will be looking for a car, a home or just a vacation, saving money will benefit you down the road. Your credit looks good and you have money for emergencies. As the saying goes, “Pay yourself first.”

I Will Organise my Finances

There is an easy way to do this. Track your income and your “outgo.” Then, create a budget and stick to it.

When You are Ready for a Loan

If you are looking for a home loan or a personal loan, call Smartline Rockingham: (08) 9527 1800.