Learn about all the wonderful loan packages we have on offer

Getting a loan in today’s age really couldn’t get any trickier, your typical lender will look at your credit history, possibly your criminal history (if you have one) and comb through your social profiles (they’re lying if they say they don’t Google you).

We live in public and it’s hard to get anything past a loan company that doesn’t in some way relate to your finances now and in the past.

What do lenders look at (when viewing your credit report)?

Do you pay your bills on time (things such as credit cards, hire purchases, previous loans, insurance payments etc.).
Income (how much money you make every week, fortnight or monthly)
Have you ever been bankrupt? Declaring bankruptcy is possibly the worst thing you can do to negative effect your credit score and pretty much ruin any chance of getting a loan.
Has your house ever been in a mortgagee sale? Just after declaring bankruptcy is having your home (specifically a home under your name) go into mortgagee sale will certainly scare off any mortgage broker and potentially all small personal loan lenders.
Do you have multiple credit cards? This screams poor financial health (especially when you ask everyone in town for a credit card in a small amount of time).
Co-sign a loan for someone else. There may be a legitimate reason why you’d want to co-sign a loan (possibly to fund a car for your son or daughter). However, do understand in the banks eye that debt is yours and if the co-signee misses payments you take the heavy weight punch on your credit score.
Only paying the absolute minimum week/fortnightly/monthly payments – this is a huge signal that you’ll never actually pay off the balance of your loan and you have poor financial health.
Length of credit – the longer the lifespan you’ve had credit (credit card, loan) and have regularly paid back the balance consistently has a huge positive effect on your credit score and will go leaps and bounds to helping you get the loan you need.
Proof of Income – this is speaking specifically to those who are self employed