Silvertree Property News – Top Tips on how to IMPRESS the Bank when applying for a Bond

Posted by Carl Witten on August 2, 2011 // 0 Comments

Courtesy of Sunday Times, July 31st, 2011

Look after your credit record & consider how it looks from the Bank’s perspective
Remember that long-standing debts are the worst to miss payments on
Deposits are here to stay in the medium term so prepare your ‘nest egg’
See what you can afford first and get pre-approved before you get emotionally attached to a property
Consider the associated (on) costs of buying or selling
Be an open communicator. If you hit problems with repayments “SPEAK TO YOUR BANK”, they will help you to restructure your debt. Otherwise you could damage or destroy your credit record.
If your credit record has been damaged, talk to a debt counsellor as they can help you to ‘get back on track’