Lying on Credit Applications on the Rise

The number of borrowers who misrepresent their personal financial information when applying for credit is on the increase, according to Veda Advantage. Recent research conducted by Galaxy Research for Veda Advantage estimates that 1.8 million - or 10% of Australians - have misrepresented their financial information when applying for credit, an increase of 200,000 on the estimates that were compiled only six months ago. The most common form of misrepresentation was an understatment of total...
More

Could one Small Mistake Cost you a Home Loan

Did you know that just one forgotten electricity bill or unpaid mobile phone invoice could make or break your home loan application? Did you also know that an unpaid bill of just $100 or more can smear your credit file for up to seven years?   The fact is, it doesn't take much for your credit file to end up with a black mark against it.   Kristy Sheppard confirms that Mortgage Choice's home loan advisors meet with would-be borrowers on a daily basis, who are shocked to learn that their credi...
More