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Good habits the key to being home loan ready


Before you add real estate apps to your device, before you sign up with an agent, and even before you start driving through your dream suburb choosing your forever home, there are a few hoops to jump through.

First things first.  

Heath Williams from Loan Market on Darby Street shares how to be best prepared. 

Lenders are in love with borrowers who show good financial habits, particularly now in a shakier-than-usual economy,” he says. 

“Good habits are gold. And it’s never too late to start, even if business is down, your hours have been cut back, or you’re receiving government assistance.” 

So how do you get lenders to love you?  

“Broadly speaking, home loans are most likely to be lent to borrowers who can demonstrate they have the ability to make regular repayments,”

Heath Williams

“There are a few things borrowers can do to get home-loan ready.” 


Borrowers need to show that they know how to budget. Lenders typically want to see three months bank statements showing your spending habits. The ability to manage your spending and limit your expenses will make you a great candidate for a home loan. 


When you’re asking a lender for money it’s important not to have any massive monthly expenses chewing up your income. Learn to streamline your lifestyle. Have few debts including credit cards, buy-now-pay-later facilities and other loans. You’ll need to provide details of other loans, credit cards and debts when completing application forms. 


Have a deposit ready to go. The bigger the better. Let’s make your bank statements sparkle. 


It’s important to have a good credit score. This is where I come in. If you don’t know your score Loan Market can get it for you. 


It helps if you are working and are likely to work for years to come. A stable and predictable income speaks volumes to lenders. This doesn’t mean to say you can’t get a loan easily through me as your broker, it just means we need to jump through a few additional hoops together and look for the right lender. Bear in mind when we’re filling out loan application paperwork you will need pay slips from work if you’re a staff member, or tax returns if you’re a small business owner. 

“When you feel you can tick all of these boxes let’s get you on the road to a loan, even if this road’s a little windier.” 

Heath Williams

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