Steps to getting a better deal with your finance – Part Two

Jul 19
2010
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In Part One of ‘Steps to getting a better deal with your finance’, we covered two of the six points you should consider before taking out a consumer loan:

  1. Work out what you can afford to borrow
  2. Shop around for the best deal by using a broker

Following are some other useful pointers:

  1. Know what you’re dealing with:  Make sure you know what you are signing before you go ahead.  An experienced and reputable broker will be happy to go through these details and any other questions which may arise.  Check the terms and the conditions of the loan contract, including any fees and penalties if payments are missed and what happens if you choose to pay off the loan early.
  2. Get help if you cant pay your debts:   It is important you meet the payments you are required to make but when difficulty arises, burying your head in the sand is not the best solution.  Act quickly by contacting your credit provider or broker.  There are many places you can go for help including financial councillors.
  3. Complain if things go wrong:  Try to resolve any issues you can with your broker or credit provider first.  If you are not satisfied take your complaint to an independent dispute resolution scheme.

More information on all of these points can be accessed at our web site which is www.natloans.com.au or calling 1300 628 562.

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Steps to getting a better deal with your finance – Part One

Jul 19
2010
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Consumers should be well aware that there have been changes to consumer credit as of 1st July. Consumer car loans, personal loans, home loans, credit cards and overdrafts are now being regulated by ASIC under a single, nationally consistent  regime.  The new laws have been designed to better protect interest of borrowers and improve the standards across the board. In the past, its been very easy for borrowers to get into debt with the wrong loan products.  Following is a simple guide on what to think about before deciding to take out a consumer loan:

  1. Work out what you can afford to borrow: It’s always a good idea to establish what we can realistically afford to borrow in monthly repayments. Natloans has a budget calculator which assist you in working out where you money goes now and how much is left over.  Always remember to factor in interest rate rises and anything that may affect your income in the future.
  2. Shop around for the best deal: By going to a large reputable broker such as Natloans, you are able to obtain access to a large range of products with just one simple phone call or application.  Its important to know that the more you apply for products when you shop around, the more likely you effect your credit rating and give yourselve a ‘busy’ credit file.  Natloans has access to a large range of lenders and products.  They do the work for you to compares interest rates, features, and any hidden nasties to ensure you obtain the best deal possible.  It can make a huge difference to what you end up paying so it’s really worth while going to a reputable broker.
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Why is Natloans accredited by the FBAA?

Jun 29
2010
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There are many brokers that you can choose form in Australia when looking for finance. You should always makes sure that you use a licensed broker and one that is accredited by the Finance Broker Association of Australia – FBAA. Natloans is accredited by the FBAA and is therefore a licensed broker.

Why is Natloans accredited by the FBAA?

Natloans prides itself as a member of the FBAA by providing a high standard of proper and professional funding for its clients. We value building long term relationships with our clients to ensure the vitality, integrity and future of the finance/mortgage broking industry.
We abide by the industry recognised Code of Practice as handed down by the FBAA.
We are also a member of the Credit Ombudsman Service – CSOL

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