Archives for October 2022

What is a credit file/ report? A credit report is a statement that summaries your personal credit history and provides a snapshot of your current credit accounts. Lenders use your credit report as part of their decision to approve (or decline) your application for finance.   What kind of information does my credit report contain? Your credit file shows all credit accounts held in your name over the last few years (for example - credit cards, later-payment accounts, personal loans, … [Read more...]

If you currently have a loan that’s fixed at a rate much lower than variable rates, you may be feeling quite comfortable with your position right now. As variable rates continue to rise around you, you’re happily sleeping at night knowing that for the next 6/12/24 months, your interest rate – and monthly repayment – will remain the same. However, now is not the time to be complacent. Because when your fixed rate loan term expires, you will need to be prepared – and able to pay for - quite a … [Read more...]