The All New 7-in-1 Loans Calculator for Australia

Loans Calculator for Australia is the finest mobile app available for potential buyers and brokers that assists you in managing all your financial aspects within minutes as you can instantly get all information by filling relevant details like rate of interest, total no. of years, total mortgage amount and you will automatically see the results on your screen.

Loans Calculator for Australia is an app available free of cost on Play Store and on iTunes App Store. The app offers the complete information with weekly, monthly, quarterly and yearly loan repayments.


The app features following types of Loans Calculators: 

Stamp Duty Calculator 
The app features state wise stamp duty calculator where a user needs to enter the Price and select the location, live in property and first homebuyers. Based on the inputs, result will be displayed, including the stamp duty, transfer fee and registration fee.

Stamp duty is mandatory while transferring the property and is levied in all states in Australia with each state has the responsibility for administering the duty. There is variation that exists in each state, including the variation of how the tax is calculated.


Home Loan Calculator 
With a home loan calculator, the process of applying for a home loan becomes much easier. It eliminates the confusion on certain financial hypothetical scenarios. Loans Calculator for Australia features home loan based calculator in given format shown below:

A user need to enter the loan amount, terms (years), and Rate of Interest. It will automatically feature the graphical summary representing the interest paid, principal paid and repayment amount on a monthly basis.


Personal Loan Calculator 
Personal Loans are easily accessible for any person and are available in both secured and unsecured forms.

Car/Truck Loan Calculator 
A car/Truck loan calculator gives you the immense opportunity to plan comprehensively to decide the type of loan offers available out of so many options.





Borrowing Power
The app allows users to -

• Check borrowing limits as single or joint applicant
• Include dependents and monthly expenses
• Calculate monthly repayments
• Lump Sum & Extra Payments
• Calculate repayments if rates rise 

Amortization Calculator
This calculator allows to -

• Track interest-paid-till-date
• Track principle-paid-till-date
• Schedule of repayments for the entire loan term
• Know remaining principle balance after every repayment
• Breakdown of repayment towards interest and principle balance 

Mortgage Insurance Calculator

• To calculate total premium including state-wise stamp duty
• To find total principle & interest you pay towards the loan
• Know the total interest you pay towards the loan
• View repayment schedule of your loan

Top Tips to Pay Off your Home Loan Speedily

It is worth taking a home loan, for moving into your dream home. However, paying off home loan for good 20-25 years is daunting task and paying it off as soon as possible requires planning and detailed understanding of the complete loan process. Here are some tips that can help you.

Pay it off quickly - The basic rule with loan, be it home loan or any other loan is, and pay it off as quickly as possible. The longer you take to pay off your loan, more is the amount you are going to pay. For instance- if your loan amount is $600,000 at 5.46% percent for 25 years, then your monthly repayment will be about $3,670. If you pay the loan back in 10 years rather than 25 years then your monthly payment will increase but you will be saving a lot of amount in totality as in this case your rate of interest will be low.

Consolidate your debts - If you are paying other personal debts too like credit cards, store cards, personal loans etc.) Then you must be paying between 15-25% interests on these personal debts. Instead of paying a high interest rate, you can refinance all your debts into your home loan. This means by consolidating other debts into your home loan, you need to pay only 5-6% interest. With this strategy, you can save a whopping amount while saving yourself from higher personal interest rates and unaffordable debt.

Use your offset account to your advantage - You can use your offset account to your advantage, instead of keeping all your spare cash into an interest bearing account where you will earn a little amount of interest, and in turn will be paying tax on the amount you earn, transferring the extra cash into your offset account will work in your advantage. Making use of this additional cash to offset the interest you are paying on your home loan will be the best possible option.

Split Loan - Split loans in another great option, giving the borrower immense flexibility and advantage. In split loans, you can fix part of your home loan and set the remaining balance of the loan with the variable rate of interest. In case, interest rates go down in the coming months, then you stand to gain from it, this gives borrower enough flexibility, as you know some part of your loan is safely fixed and other is variable.

Are you planning to Invest in a Property? Loans Calculator for Australia can do the Maths for You

Are you planning to invest in a property or apply for a home loan, car loan or a personal loan and finding it challenging to understand your financial calculations? Now, no longer you have to be dependent upon a financial expert rather with the help of loan calculator for Australia you can resolve all your doubts related to debt, mortgage, investments etc., any kind of financial aspects instantly.

These mobile apps provide the simplest way to assist buyers understand loan related information and help brokers too in calculating financial details within minutes. This app can be downloaded free of cost and is available on Google Play as well as Apple's iTunes. This app is product of Loans Direct, an Australian group of financial experts providing every kind of financial services from mortgage to business financing, to refinancing to every kind of loans including Personal loans, Car Loans, Home Loans etc. From loans calculator for Australia, users can get complete information about loan repayment as per their requirement on weekly, monthly, quarterly and yearly basis.

Here are main features of this app:

• The app enable users to calculate loan repayments and borrowing limits.

• App also has a feature of rate comparison to find monthly repayments.

• Allow users to find out eligible grants and concessions such as first homebuyers grant, stamp duty discount etc.)

• Contains contact details of state's revenue offices

• Enable users to know stamp duty charges in Australia, specific to Melbourne, Brisbane, Perth, Canberra, Adelaide), In addition you can also do state wise comparison of stamp duty

• App also contains a button to send emails, reports and summary.

• Users can also see graphical summary of loan to pay off sooner

• It also contains a lump sum payment calculator to save from rate of interest and other charges on loan.

After successfully downloading this application, you need to fill relevant details like Amount, Terms (in years), and rate of interest and easily fetch loan related information like applying for a loan, repayments etc. Once you fill the information accurately, you will automatically get information regarding repayment amount weekly, monthly and fortnightly basis. Loans calculator for Australia works wonder when you need any loan related information however if you need some critical information regarding financial matters than consulting an expert with good knowledge and experience is a good option.

An Australian Loan Calculator App for Android and iPhone

These days, many mobile apps give their users an ability to make financial calculations easier than ever. Whatever is the need, a home loan, personal loan or a truck finance; Loans Calculator App for Australia will help you in comparing and calculating various financial aspects with much ease.

“Loans Calculator for Australia” is a mobile app that features Personal Loan Calculator, Home Loan Calculator, Car Loan Calculator, and Stamp Duty Calculator for borrowers and brokers. Moreover, a user can even calculate weekly, monthly, quarterly and yearly repayment schedule of a loan and can send an email to share the calculated results and export the amortization table by simply pressing on the email button.

The main features that make it differ from other apps under the same category are:

• To calculate loan repayments, borrowing limits and extra payments to pay off.

• Rate comparison to find monthly repayments along with that repayment frequency for weekly, monthly and fortnightly payments.

• A lump sum payment calculator to save interest and other charges

• The app also represents through a graphical summary of a loan

• It features stamp duty specific to Sydney, Canberra, Melbourne, Adelaide, Pert and Brisbane.

• A user can also make the state wise stamp duty comparison with the help of this app.

• It has contact details of state revenue offices.

• A user can even get the information about the grant and concessions.

Loans Calculator for Australia is available free of cost on Google Play Store and iTunes. This mobile app is the venture of Loans Direct, a group of financial experts and brokers serving their clients in Australia in matters related to home loans, mortgage, commercial finance and more.

Loans Calculator for Australia – It’s Easy, It’s Quick

A Loan Calculator can help you with planning your amount that may incur during the loan process and make you understand about what it really means for your tomorrow if you take out a loan today. While applying for a loan, you will need to know about the amount you generally borrow as well as an option to choose a fixed or variable loan. There are many types of different calculator available online that will help you to find the information and perform the calculation on various financial aspects. However, it is recommended to check whether the calculations are reliable or not.

Loans Calculator for Australia is a reliable app, designed and developed by Loans Direct and available free to download on Android or iOS based platform. The app features personal loan, home loan, stamp duty, and car loan calculator for potential buyers as well as property investor in Australia. The app plays an important role for the comparison of rate of interest offered by leading Australian banks and lending firms. It also provides the complete information about the repayment process on weekly, fortnightly, monthly and on yearly basis.

In addition to calculations, this app also offer you the facility to share the final result, payoff of the mortgage and even export the amortization table by simply tapping on the email icon present on the app screen. 

It even features the contact details of state revenue offices. Moreover, you can even find the information of stamp duty charges specific to Sydney, Melbourne, Adelaide, Brisbane, Perth, and Canberra. To access the features of this app you need to enter the figures in the respective boxes and get the reliable outcomes based on the inputs. The app is compatible with Android 2.2 and higher versions, whereas, in order to use it on your iPhone, iOS 6.0 or higher version is required.

An App that can Ease out the Stress of Financial Calculations

A Loan Calculator is a quite nifty and helpful tool, which can be easily found on all banking sites that deal with home financing. An important resource relates to proper planning of your financial future. Now with increase in the use of Smartphones from last one decade, mobile applications developers by implementing their innovative ideas, developed many apps that ease the process of financial calculation just on your fingertips.

Loans Calculator for Australia is one such app available free of cost on Android as well as iOS based platform. It features all major calculators, viz. Home Loan, Personal Loan, Car Loan and Stamp Duty Calculator. Apart from calculations, you can even export the amortization table, payoff of your mortgages and share the result by simply pressing on the email icon present on the screen.

Some of the unique features of this app that makes it differ from other apps falling under the same category are:

• It helps to figure out your borrowing limit so that you don’t face any difficulty in the repayment process at a later stage.
• The app features the grants and concession that are meant for first home buyers.
• This app also shows the information about the stamp duty, fees and other charges. Currently the stamp duty is only specific to Perth, Melbourne, Adelaide, Brisbane, Sydney, and Canberra. 
• It has contact details of state revenue offices in Australia.
• The app also evaluates the extra payment frequency to payoff sooner. 

Therefore, to get the easy solution for all your financial calculations, you need to download this free app on your iPhone or Android based devices. The app offers better resolution in portrait mode. In order to download it on your Android based Smartphone, Android 2.2 and higher version is required and for iPhone users, the app is compatible with iOS 6 and higher version.

Loan Payment Calculator from Loans Direct

Loan Calculators can be used to compute different aspects related to financial matters like personal loans, mortgage payment and car loan payments. It is also used to figure out the monthly payments that would be due on a mortgage. These Financial Calculators are available on websites that deals with financial matters. To calculate the repayment amount and other financial calculations, a user needs to enter the relevant details like rate of interest and time period for repayment process. It automatically generates the results according to the input provided.

With the advancement in mobile applications, there are number of apps that transform the daunting task of financial calculation in to easy one, and could be completed in just a few taps on the screen of a Smartphone. However, make sure that the app you are using must comply according to current standards and must contain updated information on financial grounds.

Loans Calculator for Australia is one such app that provides complete information about the repayment amount on weekly, monthly, quarterly and yearly basis. Moreover, the app features Personal Loan, Home Loan and Stamp Duty and Car loan Calculator.

The app is available free of cost on Google Play as well as on iTunes. With the help of this app, a user can export the amortization table and payoff of the mortgages with the help of email button present on the screen. 

Some of the unique features of this app that makes it different from other apps falling under the same category are:

• A user can get the information about the stamp duty, fees and other charges through this mobile application. Currently the stamp duty is only specific to Adelaide, Brisbane, Perth, Sydney, Canberra and Melbourne. 
• You can get the contact details of all revenue offices in this app.
• It has lump sum payment calculator to save the rate of interest and other extra charges on your loan.

Therefore, to get the reliable and accurate solution for all your financial calculations download this app now.

Mobile App for Australian Borrowers ‘Loans Calculator For Australia’

Loans Direct is a group of financial experts in Australia serving its clients in financial matters since many years. They have recently developed a mobile app for potential borrowers in Australia, with features like Home Loan Calculator, Personal Loan Calculator and Car Loan Calculator and Stamp Duty Calculator. The app is intended to provide information with weekly, monthly, quarterly and yearly loan repayments. Moreover, a user can even export the amortization table and payoff of the mortgage by pressing the email button. The app is available free of cost on Google Play and iTunes.

Whether you are applying for a personal finance or a mortgage, get the resolution to all your doubts related to financial aspects through Loans Calculator for Australia.  

The main features of this app are:

• The app enables its users to get the information about the stamp duty specific to Melbourne, Adelaide, Brisbane, Sydney, Perth and Canberra.
• The app features lump sum payment calculator to save the rate of interest and other charges on your loan.
• It can be used to calculate the loan repayments and borrowing limits along with graphical summary of a loan to pay off sooner.
• The app helps its users to take an informed decision about the total loan amount they wish to apply by considering all-important factors based on the inputs provided.
• The app also helps you with rate comparison to find monthly repayments.
• It includes the information of state’s revenue offices.
• The app contains an option to send an email or share the calculation report by simply pressing on email button present on the screen.

How it works?

After successfully downloading this free app, you can know more about applying for a loan and your repayments by filling details like Amount, Terms (in years), and Rate of Interest. After filling all these relevant details, you will automatically get the information about the repayment amount on monthly, fortnightly and weekly basis.

Home Loan Calculator App for Australia

Generally, people find the math of loans or mortgages complicated and avoid calculating the facts prior to applying for a home loan. However, buying a house is a big expense and making a payment is an important thing that you have to commit for many years to come. Therefore, calculation of your current income, expenditure, and find the details about monthly repayments matter a lot before applying for a loan.

The calculation process has become easier with the introduction of free mobile apps based on Home Loan Calculator that can be downloaded on Android as well as iOS based Smartphones. A home loan calculator is an important tool that helps the users to determine the monthly repayment of loan by simply entering the total loan amount, repayment period on monthly, quarterly or yearly basis and the rate of interest. One such app is “Loans Calculator for Australia” that is available free cost on Google Play Store and iTunes, with features like Personal Loan Calculator, Car Loan Calculator, Home Loan Calculator and Stamp Duty Calculator.

Things you can do with this app -

• For calculation of home loan, a user needs to enter Loan Amount, Term (Years), and Interest rate.
• It will automatically calculate the repayment amount on fortnightly, weekly, monthly and yearly basis.
• Moreover, the information about the rate of interest paid and Principal paid also displayed on the screen of the app.
• This app provides the complete information about the repayment amount on weekly, monthly, quarterly and yearly basis.
• Apart from calculations, the app features stamp duty, fees and charges specific to Sydney, Canberra, Melbourne, Brisbane, and Perth.
• It offers state wise comparison of stamp duty along with the contact details of state revenue offices.
• The app also has an option to send an email to share the calculation report.

The app is developed by Loans Direct, a group of financial experts in Australia serving from last 8 years in the matters related to loans and mortgages.

Financial Calculations Made Easy with 'Loans Calculator for Australia'

When you want to apply for a loan from a bank or lending institution based in Australia, it is imperative that you must be aware financial aspects like the rate of interest you need to pay during the repayment process. It will help you to make an informed decision on the amount of loan that you want to apply.

A loan calculator is an effective tool that will automatically calculate the amount of interest you will be charged during the repayment process by considering the period and other important factors. Loans Calculators can be used to compute the government or private loans, Personal Loans, mortgage payment and car loan payments.

Now you can even get the complete information about the repayment process on weekly, monthly, quarterly and yearly basis with the help of “Loans Calculator for Australia” which is a Smartphone app available on Play Store as well as on iTunes. You can download it free on any Android or iOS based Smartphone.

The main features of this app are:

• A user can calculate loan repayments and borrowing limits.
• The app represents the Graphical summary of a loan to pay off.
• With the help of this app, a user can calculate the extra payment frequency to payoff sooner.
• The app also consists of lump sum calculator to save the rate of interest and other extra charges that may incur on your loan.
• On this app, the state wise comparison of stamp duty is given.
• It also features grants and concessions.
• The app has an option to send or share the calculation report via email by pressing the email button.

Therefore, we can conclude that this single app contains the Personal Loan Calculator, Home Loan Calculator, Car Loan Calculator and Stamp Duty Calculator and all these are vital to do financial calculations prior to apply for a loan.

Limit Your Monthly Expenses Prior To Applying For a Home Loan in Australia

Buying a home is a biggest financial commitment of your life. So it has become more important for you to prepare yourself mentally as well as financially before you buy. It helps you to increase your borrowing power and increase the chances of quick approval of home loans. Here are some important points that you should implement in your life that reduces the mental and financial pressures while buying your first home.

Curbing your spending habits

It is obvious that if you have less financial commitments, then you tend to be more spontaneous with your spending. You buy everything that you like without even give it a second thought. However, if you have decided to buy a home, then the money you spend will need to go towards saving a home deposit.

Calculate home loan interest rates in Australia

The official website of homebuilders, financial brokers, and real estate websites come equipped with free home loan calculator in Australia. This allows the borrower to check how much they can potentially borrow prior to apply for a home loan from one of the banks.

Setup a high interest savings account

You should open a high interest saving account that will allow you to earn interest on the money you save. It will enable you to earn more in a shorter span of time. However, make sure that you will read all terms and conditions thoroughly and aware about how interest is paid to you.

Credit Cards

Credit Cards reduce your borrowing power and affect the credit rating score that create hindrance in the loan approval process at a later stage. To maintain good credit rating, you should reduce your credit limits so that you will get an alert if you ever cross it. It will curb your spending habit that you may have. 

Online Personal Loans in Australia – A Convenient Way to Meet Your Financial Needs

Everyone who is capable of earning enough monthly income can easily afford all luxury facilities and live life in full swing. However, there are instances in everyone’s life that may require additional funds or immediate money to serve the purpose. To their relief, there are financial institutes and banks that provide competitive personal loans rates in Australia with convenient terms and easier repayment schedule.

Even a person with bad credit rating is also eligible for personal loan in Australia in affordable interest rates (*conditions apply*). You can also apply for personal loans by visiting on their websites and fill all the relevant details like loan amount, purpose of the loan, home address, credit history (if you have bad credit rating, they have a special provision for it) in the online form. There are tools like to compare personal loans Australia plans offered by the lender for your use.

 
Online personal loans come with secured and unsecured options which offer repaying convenience to the borrowers. Secured loans are better options to avail, then unsecured one. Secured personal loan offered against the borrower’s property like condos and in turn, the lender offers loans at lower interest rate with flexible long term repayment option. This will clearly reduce the monthly installments of the loans that are meant for repayment. Unsecured loans are opposite to the secured one that simply means there is no need of any security documents related to property that you have to submit to avail these types of loans. But still they affects heavy on your pockets with high interest rates and less flexible repayment options available.

Before applying for a personal loan in Australia, always ensure that you have extensively compared lenders in order to find out who is offering the lowest rate of interest. This task might prove a little difficult for you as there are many banks or financial institutions in Australia. In order to shortlist the best financing company who has a crystal clear track record with no hidden clauses or information , we recommend you to contact with the financial service provider who thoroughly research and compare all the relevant details of different banks and financial institution and suggest you the best out of the rest!

Taxation Revenue from Property, Continues to Rise

According to the recent data revealed by the Australian Bureau of Statistics (ABS), 46.4% of state and local government taxation revenue in the financial year 2012-2013 generated from property related taxes. Over the whole year, state and local government collected a sum of $35.931 billion as a property tax. This collection creates a new record in Australian property market. It clearly shows that property taxes are the largest source of revenue for local and state government.

The overall value of property related taxes is increased by 7.2% during the recent financial year. With home values beginning to rise nationwide from June 2012, it was already clear that state and local government would make the most of it. With higher home values, taxes such as taxes on land, municipal rates and stamp duty also increases. Here is the list of property related tax revenue that is collected under different categories during 2012-2013:

Category	Amount Collected	Percentage
Stamp duties on conveyances	$12,841 m	36% of the total revenue
Land Taxes	$6,192 m	17% of the total revenue
Municipal Rates	$14,192 m	40% of the total revenue
Government borrowing guarantee Levies	$1,063 m	3% of the total revenue
Other	$1,360 m	4% of the total revenue

(Source: RP Data, ABS)

Property related taxes are collected from those who own a property in order construct a home or for investment purpose. These taxes are typically payable by the owner of the property. It is obvious that every property is owned by someone, whether the person is an owner-occupier or an investor. However, those who choose to rent a property rather to own a property do not need to pay tax on the property. State and local government have experienced a significant boost due to continuous improvement in the residential housing market over the year, which is expected to continue with the same pace in the coming months.

Key Points to Consider While Hiring a Real Estate Lawyer

A real estate lawyer handles purchases and sales of condominium, apartments, commercial and real estate transactions, assignments of subleases and leases, co-operative apartments and homes. They also specialize in cases involving, real estate disputes and property claims. However, how would you know that you are dealing with a good lawyer that can easily handle all the real estate property related matters in an easy manner?

Here are some of the vital tips that you must consider before hiring a real estate lawyer:

• Check out their overall experience: Before assigning the task of all property matters to a real estate lawyer, make sure that he or she must have vast experience in this field. This is vital because zoning law and other real estate restrictions differ from state to state.

• Beware of Vague Answers: Ask your attorney about the detailed information about how they are going to represent you, including their strategic plan that they will implement to get the transaction off the ground. If they need some time, to develop an action plan, which is not a bad thing if they answer your all queries and make you understand about their approach.
• Get help and references: You should ask for real estate lawyers by consulting it with your neighbors or relatives who might have had dealing with attorneys.
• Keep an eye on your money: Be sure to ask about the fee of the attorney before you hire one of them. Most of the real estate lawyers charge their fees on an hourly basis, but their rates are negotiable depending on the case.
• Hire a real estate lawyer smartly and make sure which person is going to represent you actually: Confused? Allow me to explain you the whole concept. Well, it is not always necessary that the person you interview is going to attend your case all the time. They may hire a junior associate to handle the day-to-day work. Therefore, whenever you hire an attorney, you must be sure that he or she should handle your case itself.

Factors That Add Value to Your Investment Property

A property meant for investment should be about increasing your wealth. However, how effectively you will be able to maintain your property help you to determine to reach your financial goals. For those who want to achieve their financial goals with this - buy, hold and sell strategy, here are some of the vital tips that will definitely add value to a real estate property or an investment property:

• Renovate Wisely

First and foremost thing you have to do is renovating the house timely, as it is a simple thing that can often make a huge difference. Some of the valuable improvement includes fitting of new lights, wooden flooring, and fresh blinds, paint the house. If you can spend a little more then you should consider updating the bathroom, kitchen, adding more storage, providing off street parking, creating a garden area or outdoor living space. You can also opt for home renovation loans if required.

• Always use quality material

Whether you want to build a house for yourself or for rental purpose, always make sure that you must not compromise with substandard material. It would cost you even more. Therefore, avoid the installation of cheap appliances and invest in quality items that will last for long. Use durable material that will withstand with wear and tear.

• Don’t over capitalize

It is recommended that not to overspend on unnecessary items that will extend your budget. Make sure that you can easily recoup all your money while selling your property. Therefore, do not invest more than 5-10% of the property value on its renovation.

• Stick to basic

When renovating an investment property or a commercial building, it is recommended to spend on modest furnishings with universal appeal and stick to neutral colours and fittings. Renovation will not add any values if future buyers have to make an extra effort to suit their own requirements.

Therefore, following these four vital tactics will help you to add value to your property investment according to your needs.

Benefits of Asset Financing

Asset financing is a sort of financial arrangement for business through which one can purchase any business related equipment such as bulk order of IT related equipment or software in an IT firm or a new car or commercial machineries required in construction or building projects. Most of the businesses take the convenient route of asset finance, in order to expand their business infrastructure. It is an affordable financial solution for all the business needs.

Here are some of the major benefits with this Asset Finance:

• It helps in managing the overall budgets

Asset finance allows one to make payment at a fixed rate for a particular period, so that inflation does not affect the repayment amount. As a result, it becomes easier for a business firm to maintain or plan its future budget.

• It helps in maintaining the existing credits

Asset finance also helps you to maintain the credits so that you would not face any major problem with existing credit lines that you arranged with a financial institution or leading banks in Australia.

• No need of any bank deposits

There is no hard rule for a deposit that comes under asset finance. The borrower just has to make regular repayment as per the schedule in order to repay the amount according to the agreement.

• Maximum tax benefits

Asset finance offers major tax benefits. These payments are offset against taxable profit. Although we recommend you to consult this with financial experts as it may vary from state to state. Therefore, we can conclude that asset finance helps in reducing the overall cost.

• Asset finance offers customized options according to the requirement

In asset finance, many customized options are available according to the different business requirements. These finance solutions are tailor made in order to ensure that all future targets of the business can easily attain as per the plan.

• Flexible repayment options, according to the lenders convenience

It offers flexible repayment options that mean lenders has the flexibility to choose the repayment period, such as monthly quarterly or yearly basis. Therefore, it becomes easy for the lenders to repay the desired amount according to the financial conditions.

Therefore, we can conclude that asset financing is an excellent solution for whenever your business needs a huge amount in short span. However, before applying for asset finance, it is advisable to understand it well by consulting with financial experts who have vast experience and thorough knowledge of its pros and cons.

Vital Tips to Avoid Bad Credit Score

Having a bad credit score on your credit record creates adverse impact while applying for a loan or any other financial product. In other words, we could say that bad credit is like a passport to higher interest rates and somewhat discrimination in loan application processing with lenders and financial institutions. An individual with good credit has better chances to be approved for a car loan, personal loan, mortgage or home loan without hassles as compared to a person with poor rating. Moreover, it is obvious that no one wants to incur a poor credit score but how can one avoid it.

Well, bad credit could be easily avoided by considering the vital tips mentioned below:

• Create a Budget: Never apply for a credit or loan if it is difficult for you to repay. Refrain from using too many credit cards or applying for home equity facilities or personal loans in a rush, if you do not have an actual need of them.
  
  
  
  
• Avoid over spending: Stop purchasing useless stuff from your credit cards. Experts always recommended using 30% of overall credit limit. Never get into the trap of offers available on the use of credit cards, which is a part of their marketing strategy. It will just take you close to your credit limit.
• Pay your bills on time: You should pay all your bills on time, a little delay in payments could easily be categorized by the moneylenders as a sign of financial distress that creates a big impact on approval of your loan application.
• Fully pay your all debts and bill: Partial payments of credit card bills will impose late payment charges and create bad impact on credit rating. On the other hand, paying bills in partial could be costlier as longer the debt stays, higher the rate of interest or other charges add up in final amount and increase your debt further that becomes difficult to pay.

Therefore, following this strategic approach will definitely help to maintain your credit rating and reduce the chances of bad credit score on the report.

Vital Tips That Eases The Process Of Repayments When The Rates Are Higher

In January 2014, according to the RP Data-Rismark Home Value Index, home values across the combined capital cities increased by 1.2%, however, the rate of value growth over the month was slower as compared to the 1.4% increase in December 2013. Moreover, the combined capital city home values increased by 9.8% over the period of 12 months until January 2014. Thus, it will be interesting to see if the trend is replicated in 2014 on houses and units across the combined capital cities.

Such factors definitely influence the scope of financial services of banks and other lending institutions. As a result, they offer financial products with amended terms and guidelines to those interested to own a house or property in cities like Sydney, Perth, Adelaide, Melbourne, Hobart, Darwin, etc. However, before applying for a loan, it is always recommended to compare all the best possible option and choose the best among the rest, which fits according to your needs and requirement. 

 

1. The first factor that everyone should consider while choosing home loans in Australia is understands the rate of interest on the loan amount.
2. The second vital thing to consider is looking for the repayment options. Here are the three points, which definitely help to lower your repayments and make easier for you to become financially stable during the repayment period:
   • One of the immediate things you can do is to contact a financial advisor who will definitely help you with all available refinancing options in order to reduce the burden of repayments.
   • As interest rates are changing so often with the passage of time, once the rate of interest is reduced, then it should be advantageous for you to refinance at much lower interest rates.
3. What if the rising interest rates start affecting your home loan repayments? To counter such instances and impacts on your repayments, here are some steps to follow that can help to reduce the acts of rising interest rates:
   
   • Consolidate all your debts: Consolidating all your debt into your home loans, such as personal loans and credit card bills will save you for paying much higher interest rates.
   • Increase your loan term for repayment up to 25 to 30 years: It will greatly reduce the amount of monthly repayment as you get the extended time limit to pay off all your debts. It is recommended to seek the assistance of financial advisors to know about the best possible options.
   • Select the Fixed-rate home loans: Always consider for the fixed rate home loan if you exactly want to know about the amount you have to pay on a monthly basis.

Thus, by keeping in mind these simple tips, you can possibly ease the process of repayment of your home loan in Australia.

Who Falls In The Purview Of Australian Privacy Policies?

Protecting people’s privacy has always been a mandate in a great business. Various researches prove that public is more likely to trust an organization that maintains high standards of trust and values privacy of its clients.

Following are the areas that regulates under the Australian Privacy Principles -

1. Public Sector: The National Privacy Act covers any federal and Australian Capital Territory (ACT) government agencies that have been under the government contracts, majorly the commonwealth government contract.
   
   

   

2. Private sector: It includes all private businesses and non-government organizations having a turnover, which exceeds 3 million dollars.

• The businesses that sell or purchase information without the legal consent of the individual and also the one’s where there is no legal authorization of disclosure of personal information.
• All the private schools that have an annual turnover exceeding 3 million dollars
• Private organizations offering health services
• Credit reporting agencies handling the credit, providing information of an individual also fall in this act regardless of what their annual turnover to be
• All the private universities in Australia follow the guidelines marked under the privacy act.
• Any person handling your tax file, including your personal property registers

3. Small businesses: If you own a small business with annual earnings of 3 million or less, the National Privacy Policy is also applicable to you. The office of Australian Information Commissioner (OAIC) follows a privacy checklist for all the small business enterprises dealing in:

• Personal information of people in Australia
• A contractor that is entitled to provide services under the commonwealth government contract
• A business dealing with Anti-terrorism or Anti-Money Laundering.
• People operating in residential tenancy

We live in an advanced digital age that has led to a number of changes especially the way we need to think about our privacy, with the electronic media being extremely vulnerable and fluid, a lot of information get copied, aggregated, interlinked, transmitted, etc. Thus, to safeguard the interests and personal information of the citizens in Australia, these laws are in force and adhered in first place.

Personal Loan – Use It Wisely For Your Personal Needs

We all have so many things lined up that we want to invest in, however, due to financial constraints, we often have to let go. When it comes to fulfill such needs through some money on credit, it is very important to understand the right use of a personal loan to fulfill the requirements, as they are often miscalculated.

Is a personal loan personal? Yes, it is. If you are looking for some added funds for a vacation, to plan a wedding or to renovate the house, this handy credit seems to fit all such personal needs when required.

Let us see what one needs to do after the purpose of the purchase has been understood -

• Prepare to make your purchase: Calculate the amount you can borrow, keeping in mind the budget and daily lifestyle. Understand the repayments schedule. Suppose you are planning to invest in a wedding, you must know the estimated expenditure and depending upon the repayment capacity borrow the amount.

• Choose your personal loan: Sit down with a finance broker, as he will assist you until the approval stage and make you invest in the best choice. Choose your personal loan amongst the following:

1. Unsecured variable rate personal loan: It is flexible and gives you the benefit of making extra repayments any time, without any fee.
2. Unsecured fixed rate personal loan: A fixed repayment schedule, protecting you from any sudden escalation in interest rate.
3. A secured loan: Lower rate of interest with affordable repayments, in exchange of a seize-able mortgage in case of non-payments.

• Customize the loan: After planning the loan type being fixed or variable, customize it in accordance to your affordability. It is important to understand every aspects related to your loan that must also help you to make an informed choice.

• Apply under the guidance: For many, a finance specialist or a broker is a reliable source to know and understand all the pre-conditions of a personal loan. Moreover, a qualified and reputed broker will also assist in the application process until the final approval.

Personal loans are quite helpful in funding the aspirations of borrowers; the key is to make the right choice!

Let Us Find Out The Benefits Of Comprehensive Credit Reporting

For those of you who are unaware, Australia operates on negative credit reporting system, which means that only credit infringements and inquiries are recorded. The information on your report may include details of your payment defaults, bankruptcy, etc. However, the new credit reporting system has a purpose of providing the credit agencies with a great level of balanced credit assessment of people.

So, what are those benefits pertaining to the new credit reporting system? Take a look - 

• Promotes good credit behavior: The new reporting system ensures good credit, as it will now have detailed record of the timely repayments of every individual. The comprehensive statement of the payments will keep people well informed of all the payments; therefore, there are minimal chances of errors.
• Quick rectification of a stained report: One can easily improvise his own credit profile soon after a financial constraint with a good credit behavior, by countering the impacts of a financial default for a period up to five years.
• Creation of an advanced and balanced system: The transparency in this form of credit reporting enables consumers having good or previously bad credit rating, to manage greater financial opportunities with access to quality credit. This was a rare privilege initially.
• Faster establishment of credit report: Initially, it was not very easy for overseas and a young borrower to build a good credit worthiness. However, with comprehensive credit reporting system, one can easily build the value to get the advantages of good credit score in future.
• Better lenders and offers: An individual with good credit report will eventually find credit at best rates and offers.
• Improved risk assessment: This system will definitely help to improvise the accuracy of credit risk assessment. The benefits include a lower rates of over-indebtedness and default, which results in much greater competition in the credit market and less expensive credit

A comprehensive credit reporting system ensures better financial opportunities for lenders as well as the borrowers!