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Metropolis Reality Forums Ť Going To Rent? Do You Need A Housing Bond Loan? ť

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Topic: Going To Rent? Do You Need A Housing Bond Loan? (Read 162 times)

odsacvnzi
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Going To Rent? Do You Need A Housing Bond Loan?
« on: Dec 13^th, 2016, 8:55pm »

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mexico 66 mens There's a lot to think about when you decide to spread your wings and move into a rental property. Often your main thoughts initially revolve around where to live, whether you can afford to pay the rent and how much furniture you will need...

Unfortunately many prospective tenants overlook the very important requirement of securing the property with a housing (or tenant) bond until it's requested by the property agent. In Australia the bond is generally calculated by multiplying the weekly rent by 4. So using an average rent of $500 would mean a $2000 bond PLUS usually two weeks in advance rent. If you don't have this in the bank (and let's face it - you probably would want to spend it on some furniture for the new place if you did) it only means one thing - you will have to borrow it.

Fortunately there are specialised lenders out there that have specifically designed their personal loan product for this exact purpose.

asics gel quantum 360 The benefits of using one of these specialised lenders are:

The application process is exceptionally quick - generally with an instant indicative approval.
The money is deposited into the account within 24 - 48 hours of formal approval.
The structure of the loan allows you to pay it out without any penalty or early termination fees.
By applying direct to such a specialised lender rather than using a broker, you avoid the risk that the broker may shop your application around and possibly affect your credit rating due to multiple enquiries.
These lenders can often lend you extra to assist with moving costs etc.
These lenders are often able to assist people who have had bad credit or previous bankruptcy.
To find one of these specialised housing/rental bond lenders you will need to search online. It's important when you are searching online that you choose one that is reputable and well established. Here's 3 tips to help you feel confident you are dealing with a professional lender.

1. CHECK THEIR MEMBERSHIPS

Check that they are a member of several industry bodies. When viewing their website ensure they list reputable, well-known industry bodies such as:

The National Financial Services Federation
Credit Ombudsman Service
The Mortgage and Finance Association of Australia
2. CHECK THEIR SOCIAL MEDIA PRESENCE

asics factory outlet Are they active in current social media forums such as:

Facebook
Twitter
Blogs
These mediums show current and real customer comments/testimonials that you can gain trust from.

3. CHECK THEY ARE LISTED ON ASIC

On the prospective lenders webpage note either their business name or the name listed as the financial provider. Then check these names on ASIC's official government website www.asic.gov.au. ASIC stands for Australian Securities and Investment Commission who handle all the registrations of legitimate companies and businesses within Australia.

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