A great question. Your payments are calculated on three variables being:-
- Amount borrowed
- Interest rate
- Principle and interest or interest only and
- How long the loan has been taken over.
No matter how much you think you can afford, ultimately will depend on what the Lenders will allow you to borrow. The best way to determine this is to call us on 1300 889554 to get assess by 30 plus Lenders in 3 minutes.
WHAT IS A CREDIT FILE
Files are kept for people and businesses which have been credit-active during the past seven years.
Details include:
- the date credit was applied for
- if it was a personal or joint application or you acted as a guarantor
- from what body or institution
- the amount sought and
- the type and purpose of the credit sought.
It also includes information necessary to identify you as well as information of relevance for credit assessment purposes, such as:
- Personal details such as: name, residential addresses, date of birth, drivers licence number and current or previous employer
- Records of some current credit accounts
- Overdue Accounts (Defaults) which may have been listed against your name
- Bankruptcy Act Information
- Court Judgements and Writs & Summons>
- Public record information such as Directorships and Proprietor-ships.
- No credit provider is allowed to access a consumer credit file without the permission of the applicable individual.
Veda Advantage records information on credit files under the strict regulations of the Federal Privacy Act 1988.
HOW TO CHECK YOUR CREDIT FILE
A credit file is updated every time a person or commercial entity applies for new credit. The information contained in the file is easy to read. Importantly, the information is one of the factors that impacts on your credit-worthiness.
Banks, retailers and credit providers use the data, along with the information you provide to them, to determine whether to lend you money or not.
This makes it crucial for borrowers to keep a watching brief on their file. If there are any inaccuracies on a credit file, it may delay your application for credit while those inaccuracies are investigated and corrected. We therefore recommend that anyone applying for credit checks their credit file at least 30 days prior to making a credit application.
A simple way to obtain a copy of your personal file is by applying on-line. The cost is $27.00 (including GST).
A copy will be sent by email, post or fax within one working day of a request being received.
Free service
If you have a little more time to spare then choose our free service and a copy of your credit file will be dispatched to you within ten working days free of charge.
Please note that you may only request a copy of your own credit history. For security purposes, prior to receiving a credit file you will be asked to verify your identity. You can obtain more detailed information regarding the access and use of personal information on our privacy page.
Requests can be made by:
Mail:
Veda Advantage Public Access
PO Box 964
North Sydney NSW 2059
Fax: (02) 9951 7880
To obtain your file you will need to provide us with following:
- Your full name
- Your date of birth
- Your driver's licence number
- Your current residential address
- Your previous addresses
- Your current employer or a previous employer
- Name of the organisation to which you last applied for credit
- A daytime telephone number
- Your signature
- How you would like your file sent to you, via: Post, Fax or Email
- Note, please clearly state whether you are requesting a copy of My Credit File or My Insurance File.
This free service is for personal records only. You can also contact Veda Advantage by phone on 133124
YES. We have several clients whom we have been able to obtain approvals for with one or more defaults. The following is a guide on what will be accepted however you should contact us to discuss further.
Home Loans: - We have many Lenders and products that will suite you even if there are one or more defaults on your Credit file. Apply Now
Personal Loans:- If you have default listed by a Telecommunications company (e.g. Telstra, Optus), we still may be able to consider provided the Default is under $500 and has been paid. If you have one or more 'Lender' defaults (e.g. Cba, ANZ, GE Money), unfortunately you will have to wait until this drop off your credit file which is 5 years from the date of your default being listed on your credit report. Apply Now
Car Loans: - We have several Lenders that may be able to help if you have some minor defaults. Apply Now
With any default, it should be noted that there has to be a good explanation for why it occurred. The default should also be paid as quickly as possible after it has been listed as this will show 'good intent' to do the right thing. Some defaults are genuinely an error are or being disputed.
To obtain a copy of your Credit file, contact Veda Advantage or phone 133124
This will depend on what you will qualify for. Generally the stronger the application, the more you can borrow.
The information below provides you with an overall guide but this is certainly not limited to the following:-
Home Loans: - Minimum $10,000 to Maximum $2,500,000 plus
Personal Loans: - Minimum $3000 to Maximum $50,000 plus
Car Loans:- Minimum $3000 to Maximum $150,000 plus
Because of our industry experience, we find that we consistently are able to obtain more approvals and more money for you, for customer from all types of back grounds and circumstances. Apply Now
Very good question. You are safe in the knowledge that we are part of Australia’s largest and most experienced Broker organisation. Australian Finance Group (AFG) who writes in excess of 17 Billion in mortgages per year. We also hold the highest membership accreditation as a Full Member with the Mortgage Finance Association of Australia (MFAA) ensuring our standards of conduct and professionalism is second to none and also a member of the Credit Ombudsman Service Ltd (COSL) who can manage and resolve any disputes that may arise. As you can see, there is only one way to do it, and that’s doing it right, Guaranteed! Apply Now
We guarantee to respond within 4 working hours upon receipt of your application. From here we'll either require more information, provide you with a pre-approval or provide you with a likely scenario of how the lenders will view your application. Once you give us the 'Green Light', we’ll arrange to formally obtain an approval in the fastest possible time.
We are able to provide loans and of all descriptions to all states and territories with the exception of Western Australia. Our Call Centre can send documents directly to you and in some cases, you can go directly to the lender that is closest to you for fast service and settlements. Apply Now
There are three ways you can apply. The first way which in most cases is also the quickest, is to apply on line. Just input some basic details and lodge your application on line 24 hours a day. The whole process should only take around 5 minutes to complete and from this, we generally have enough information to base a decision, and come back to you ll you within 8 working hours.
Secondly, you can email us an enquiry on-line and we can contact you at a designated time to obtain your information or;
Thirdly you can call us direct on 1300 889 554 between the 9.00 am to 5.00 pm Monday to Friday E.S.T.
Which ever method you choose, you can be sure we have the experience and knowledge to handle any situation. There isn't anything we haven't seen before so apply now and let us do the rest.
Lender Mortgage Insurance is applicable to Borrowers who loan more than 80% of the value of security for fully verified loans and from 60% for Low Doc Loan. First you must calculate the Loan to Value Ratio Ratio (LVR) to determine what whether or not LMI is applicable.
For example a fully verified applicant seeking a loan of $85,000 secured by a property valued at $100,000, would be 85% LVR and therefore LMI is applicable. If a self employed applicant who is self certifying their income (Low/No Doc Loan), and seeking a loan or $65,000 secured by a property valued at $100,000, the LVR would be 65% and therefore LMI is applicable. In most cases, the applicant is required to pay the LMI which is usually funded within the loan.
We can usually provide a Conditional Approval within 4 working hours and in some cases much quicker than that. We are committed to lead the industry with fast turn around times so put us to the test. Apply now and obtain your answer fast.
You'll be pleased to know that YES you can. We are leading the industry in providing Pre Approval's within 4 hours and in some cases, as quick as 30 minutes.
We go far beyond what any bank will provide you. As we are the Brokers that will be processing your loan, we know what the bank will need to approve the loan so while we may ask you an extra 10 or 15 questions at the time of application, you can have the confidence of knowing what the lenders are looking for and how you 'fit' within their guidelines.
We have many instances where customer's have had a 'pre-approval' from their bank, only to have their hart broken and be declined later once the formal application has been made. In most cases we have been able to overcome the Customer's obstacles with approvals and their new home. Apply Now
YES. Most institutions ‘Credit Score’ applications to determine the risk profile of an applicant and one of the factors to determine a Credit Score is by the number of recent credit enquiries made to any Credit Providers. Unfortunately a credit score does not take into account any circumstances of applicants resulting often in a decline by some lenders.
The activity on your Veda credit file should be kept to an absolute minimum. No credit enquires made in the last three to six months is preferred so if you are considering applying with several lender/brokers, re-think! Applying with us is like applying with 30 different lenders without the credit enquiries. In fact we do not even check your credit file without first consulting you. Apply Now
